anyone handed a car back before? - SV650.org

13-09-09, 07:00 PM

Im sure this has been asked before but cant find it.

Anyone know what the car finance company will ask for when i exercise my rights by handing my car back to them?

i have a 04 Mini Cooper that sits outside my house doing nothing all week & cant get enough for trade in to exchange.

my plan is to hand it back & pick up an old 4x4 for towing my horses & genral use that i cant use my bike for.

the car is in very good nick.

cheers

13-09-09, 07:16 PM

it will specific to the finance company..

expect to be screwed

13-09-09, 07:22 PM

im with Northridge if that helps

13-09-09, 07:24 PM

My Mom done the handing back thing years ago on a astra and got shafted (no jokes please as she is no longer with us) and the finance company would only settle the amount owing if there was money on top of what the car could be sold at auction.
I think there was something like £2600 owed, they said car was worth £2300 so a shortfall of £300.
At the time they were selling for £3000 easy, she done it without looking at the options or asking me about it.
Still makes me angry now 18 years later.

the_lone_wolf · 13-09-09, 07:26 PM

Quote:

Originally Posted by specialone

My Mom done the handing back thing years ago on a astra and got shafted (no jokes please as she is no longer with us)...

I don't know any Astra jokes...

13-09-09, 07:39 PM

Quote:

Originally Posted by the_lone_wolf

I don't know any Astra jokes...

Probably just as well then

13-09-09, 08:05 PM

Someone I knew handed back a ZX7R that was immaculate, the finance complany are still trying to screw him for about 2 grand. The bike was on 5 years finance and he pulled out 2 years in. They claim they sold the bike for a fraction of its Glasses Guide value, and he's liable for the shortfall. He's claiming they undersold it and won't pay up.

2 years down the line he's still fighting them.

13-09-09, 08:12 PM

How much is owing on the finance and how much is the car worth?
Im sure a mate could buy it for a good deal to clear the outstanding amount if its an 04 it cant be a huge sum...

13-09-09, 08:16 PM

What model spec value- I am sure most garages would give you a better deal than the finance co against a big 4x4 which are difficult to shift especially with recent rises in cost of fuel.

13-09-09, 08:24 PM

2004 04 cooper glass roof, multi func steering wheel, cruise control, 65000mls,

think i still owe about 6k worth about 4.5k.

ill maybe see a few dealer up here again & see if i can get a better deal. ever 5th car you see up here is a mini.

13-09-09, 07:00 PM	#1
Stewart.C Guest Posts: n/a	anyone handed a car back before? Im sure this has been asked before but cant find it. Anyone know what the car finance company will ask for when i exercise my rights by handing my car back to them? i have a 04 Mini Cooper that sits outside my house doing nothing all week & cant get enough for trade in to exchange. my plan is to hand it back & pick up an old 4x4 for towing my horses & genral use that i cant use my bike for. the car is in very good nick. cheers

13-09-09, 07:16 PM	#2
454697819 Guest Posts: n/a	Re: anyone handed a car back before? it will specific to the finance company.. expect to be screwed

13-09-09, 07:22 PM	#3
Stewart.C Guest Posts: n/a	Re: anyone handed a car back before? im with Northridge if that helps

13-09-09, 07:24 PM	#4
Specialone Guest Posts: n/a	Re: anyone handed a car back before? My Mom done the handing back thing years ago on a astra and got shafted (no jokes please as she is no longer with us) and the finance company would only settle the amount owing if there was money on top of what the car could be sold at auction. I think there was something like £2600 owed, they said car was worth £2300 so a shortfall of £300. At the time they were selling for £3000 easy, she done it without looking at the options or asking me about it. Still makes me angry now 18 years later.

13-09-09, 08:05 PM	#7
Lozzo Guest Posts: n/a	Re: anyone handed a car back before? Someone I knew handed back a ZX7R that was immaculate, the finance complany are still trying to screw him for about 2 grand. The bike was on 5 years finance and he pulled out 2 years in. They claim they sold the bike for a fraction of its Glasses Guide value, and he's liable for the shortfall. He's claiming they undersold it and won't pay up. 2 years down the line he's still fighting them.

13-09-09, 08:12 PM	#8
SV-net Guest Posts: n/a	Re: anyone handed a car back before? How much is owing on the finance and how much is the car worth? Im sure a mate could buy it for a good deal to clear the outstanding amount if its an 04 it cant be a huge sum...

13-09-09, 08:16 PM	#9
natcar Guest Posts: n/a	Re: anyone handed a car back before? What model spec value- I am sure most garages would give you a better deal than the finance co against a big 4x4 which are difficult to shift especially with recent rises in cost of fuel.

13-09-09, 08:24 PM	#10
Stewart.C Guest Posts: n/a	Re: anyone handed a car back before? 2004 04 cooper glass roof, multi func steering wheel, cruise control, 65000mls, think i still owe about 6k worth about 4.5k. ill maybe see a few dealer up here again & see if i can get a better deal. ever 5th car you see up here is a mini.

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