Help with my finance

[Tap450]

I need some advise iv got a Astra 1.7 Cdti.
I got it about 18months ago in finance with motonova iv got a 4 year contract with them is there any way I can give the car back or sell it with out paying what I owe on it? Thanks in advance

[JmeSwaz]

You can either sell privately and settle the remaining finance with the money. You can get a settlement figure which will reduce the interest owed. Or as you are half way through you can voluntary terminate, hand the car back, you'll owe them nothing but won't get anything back either.

[Tap450]

JmeSwaz said:

You can either sell privately and settle the remaining finance with the money. You can get a settlement figure which will reduce the interest owed. Or as you are half way through you can voluntary terminate, hand the car back, you'll owe them nothing but won't get anything back either.

That's what I was hoping but iv been told I'll have to pay the diffrence of what's left and what the cars worth.

[DuraAce]

18 months isn't half of four years though.

You need to read your finance documentation. Who is your finance with?

[Tap450]

I know iv got a few months left. Motonova finance

[Sheepshanks]

DuraAce said:

18 months isn't half of four years though.

You need to read your finance documentation. Who is your finance with?

It's half of the total amount owed, not half in terms of time - the amount will be detailed in the finance agreement.

If it's HP then it will fall at around the 2yr mark. If it's a PCP then it'll be nearer the end of the agreement.

[JmeSwaz]

DuraAce said:

18 months isn't half of four years though.

You need to read your finance documentation. Who is your finance with?

Whoops. I read it as 18 months left.
If another car is the motivation to sell up, a dealer maybe able to part exchange and take the negative equity and put it in a new finance deal.

[xeric]

I think the actual answer is no, you can't, sorry.

You need to speak to the finance company and get your settlement figure and hope you can get that amount for your car, if not then you will have to pay the difference.