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HP settlement on a car and credit score


Ant

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Looking at trading in my car, I've only had it a year but want a better one.

 

Long story cut short I can get a good price from we buy any car. I know I need to get a settlement letter but does the fact I'm repaying it off early have any affect on my credit history?

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in the IT dept btw but you had to know the criteria for different status and early settlements would not negatively impact your credit.

 

Are you sure!?!?

 

do they sell cars as well it may be that they are overcharging so much on the car they are selling that they give a good price on the car being traded in?

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Are you sure!?!?

 

It says on their website that they will settle any outstanding finance, but I've not had it valued by them so no I'm not sure!

 

If they can settle the finance I'll probably go ahead with it. I'm not looking at getting anything back for myself for the car. The car has been good to me in the sense I've not been driving a tin around for the past year or so that was almost impossible to insure.

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Ant. Get their offer. Go on to Parkers and get the book price, I'll be amazed if that's not higher than we buy any car. If it is, sell it through Autotrader.

 

Paying the loan off early will have no impact on your credit score, in fact when the new finance has been serviced for a bit it will probably help.

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Ant. Get their offer. Go on to Parkers and get the book price, I'll be amazed if that's not higher than we buy any car. If it is, sell it through Autotrader.

Presumably he hasn't got the money to pay it off before selling it.

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Ant. Get their offer. Go on to Parkers and get the book price, I'll be amazed if that's not higher than we buy any car. If it is, sell it through Autotrader.

 

Paying the loan off early will have no impact on your credit score, in fact when the new finance has been serviced for a bit it will probably help.

 

Nice one for that

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Presumably he hasn't got the money to pay it off before selling it.

 

 

There's a process to get around that, it's messy but it works, you have to find a fairly bright buyer and liaise with the finance company. It's around the DVLA bill of sale and finance settlement.

 

It is a pain in the arsse though, agreed.

 

murph will lend it him. murph's minted. 'money murph' they call him down berkshire way.

 

Bucks. how many more f*cking times, Ladyboy? :)

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There's a process to get around that, it's messy but it works, you have to find a fairly bright buyer and liaise with the finance company. It's around the DVLA bill of sale and finance settlement.

 

It is a pain in the arsse though, agreed.

 

I went into my local Ford dealer and they said there was nothing they could do.

 

(Looking at getting a focus)

 

If it's just too much hassle I'll do a VT on it after 2 and a half years and I'll be okay with that.

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I went into my local Ford dealer and they said there was nothing they could do.

 

(Looking at getting a focus)

 

If it's just too much hassle I'll do a VT on it after 2 and a half years and I'll be okay with that.

 

 

I suspect you're in negative equity then, a dealer can pay the finance off direct, they do it all the time. I think a Focus is a brilliant shout Ant, they're outstanding, in fact Fords generally are great these days.

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I suspect you're in negative equity then, a dealer can pay the finance off direct, they do it all the time. I think a Focus is a brilliant shout Ant, they're outstanding, in fact Fords generally are great these days.

 

Yep I am

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The Focus is a great car, but my GOD will it depreciate quickly..

You'll lose about £9k on a new Focus over 12 months, so make sure you get a good GMV if you're looking at getting one on PCP or whatever from Ford.

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The Focus is a great car, but my GOD will it depreciate quickly..

You'll lose about £9k on a new Focus over 12 months, so make sure you get a good GMV if you're looking at getting one on PCP or whatever from Ford.

 

Not looking at a brand new focus, looking at one at least 18 months old or even a Mondeo or Insignia. My car is sound, nothing wrong with it at all it's just I think I could probably do better and I rushed into it to be honest. The finance on it as well is fine, I've got a good rate.

 

I don't particularly want to go down the route of buying a car from one person whilst trying to sell my one with 2-3 different parties. It just sounds like a ball ache to manage.

 

I'll probably have a look around, thanks for the advice.

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Not looking at a brand new focus, looking at one at least 18 months old or even a Mondeo or Insignia. My car is sound, nothing wrong with it at all it's just I think I could probably do better and I rushed into it to be honest. The finance on it as well is fine, I've got a good rate.

 

I don't particularly want to go down the route of buying a car from one person whilst trying to sell my one with 2-3 different parties. It just sounds like a ball ache to manage.

 

I'll probably have a look around, thanks for the advice.

 

Mondeo's are bloody big cars. Not really much point getting something that big unless you have a family. Would have thought the Focus would do you well.

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Mondeo's are bloody big cars. Not really much point getting something that big unless you have a family. Would have thought the Focus would do you well.

 

You had me at big

Edited by Aunty-N.W.A
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Not looking at a brand new focus, looking at one at least 18 months old or even a Mondeo or Insignia. My car is sound, nothing wrong with it at all it's just I think I could probably do better and I rushed into it to be honest. The finance on it as well is fine, I've got a good rate.

 

I don't particularly want to go down the route of buying a car from one person whilst trying to sell my one with 2-3 different parties. It just sounds like a ball ache to manage.

 

I'll probably have a look around, thanks for the advice.

 

If you'e got a good rate you shouldn't be in negative equity after making payments for 12 months unless you got a new car last year

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What they offer you online and what you get offered once their man checks the car over will differ greatly. The web offer is to get you in, then they spot all the dents and scratches you didn't know your car had.

 

They're buying to sell, so they want a decent profit at the end of the day.

 

You could try normal dealers. I think most places will help you settle finance if you're taking out another deal on the car they're trying to flog you

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What they offer you online and what you get offered once their man checks the car over will differ greatly. The web offer is to get you in, then they spot all the dents and scratches you didn't know your car had.

 

They're buying to sell, so they want a decent profit at the end of the day.

 

You could try normal dealers. I think most places will help you settle finance if you're taking out another deal on the car they're trying to flog you

 

See that's what I thought.

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Don't quote me - been a while since I bought a car that way. But when I did, pretty sure they paid off my old loan

 

 

I've already said that you idle scruffbag, read the f*cking thread before you come wading in with your gob wide open!

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