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whitie

Finishing Finance Early

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Me and me other half are no more ( :hehe: ) So I'am now trying to get rid of her car which is under my name.

I only got it for her about last Feb (03). I can afford to keep it, but its just taking up space and modding money!!

Can I end the finance early. if so:

1. Will it effect my credit rating?

2. Will it cost me (about 10k is owed)?

3. would I be better off selling it, and paying back the money?

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Paying it off early wont affect your rating althuogh you will probably still have to pay the interest you would have paid if you carried on with the installments :angry::angry: :tsktsk: finance companies (the total amount payable on your contract) the fact that your not having the loan for the full amount of time probably wont make a difference -- best thing is to call them i suppose :winky:

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Whitie

1/ Paying it off early will not effect your credit rating

2/ You will probably have to pay 2 months interest but will be cheaper to pay it off early - just call them and ask for a settlement figure

3/ Hard to sell with finance owing becuase of HPI checks.

Hope this helps,

Regards,

Mark

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GETTING A SETTLEMENT FIGURE YOU SHOULD GET A DISCOUNT. Check with them for one before you pay it off.

It is against the law to sell it on finance without consulting the HP company. Monies would have to be made payable to them and you can not release the car until funds have cleared with the finance company.

It will definitely NOT effect your credit rating.

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