Stuart Mcsporran Posted March 4, 2016 Share Posted March 4, 2016 Hi all was wondering if someone can answer or point me in right direction, we are moving back to the UK and bought our Hyundai here last October, we are not taking the car back with us but what do we do about the finance that's left on it do I phone the company and explain we are heading home due to family matters. What will they say Will I need to try sell the ix35 and have to pay the remaining balance, any help would be great. Thanks Link to comment Share on other sites More sharing options...
Suzukiscottie Posted March 4, 2016 Share Posted March 4, 2016 You have a contract in place to pay for the car. What does the contract say? I expect that the finance company will be pretty well protected in the terms of the contract, so they should not expect to suffer any detriment through your decision to terminate early. They will not be interested in the reasons why you need to leave the country, only that the terms of the contract are somehow met. It's always a risk when you take out expensive items on finance without a clear definitive future plan. Maybe work out how much you have left to pay, and work out how much the car is worth. That will at least tell you what kind of gap you are looking at, because I bet you will owe more than the car's current value. If in the very worst situation, you tell the finance company that you can't pay, and that the car will be left at the airport with the keys in the sun visor, then it will be up to the finance company to somehow seek redress. They may have plans to chase debt overseas, maybe not. It may be more difficult than its worth to chase the debt. A tricky situation indeed. Good luck. Link to comment Share on other sites More sharing options...
Stuart Mcsporran Posted March 4, 2016 Author Share Posted March 4, 2016 Thanks for taking the time to reply much appreciated Link to comment Share on other sites More sharing options...
movingback Posted March 4, 2016 Share Posted March 4, 2016 I've seen people advertise on gumtree in this situation. They are looking for someone to take over the lease on the car to complete the contract. May be an option for you? Link to comment Share on other sites More sharing options...
Parley Posted March 4, 2016 Share Posted March 4, 2016 Is it a personal loan or actually a car loan where the car is security for the loan ? Link to comment Share on other sites More sharing options...
Stuart Mcsporran Posted March 4, 2016 Author Share Posted March 4, 2016 Took out on finance through st George Link to comment Share on other sites More sharing options...
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