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Paying off your car loan


Mavislove

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My 18 year old son has chosen to return to England after 10 years here in Qld. 

Despite our sadness we want him to be happy and he will have great support back at home. We are thinking if it as a gap year to cope!

I am unsure if he will be eligible for financial assistance. He has aspergers, is high functioning but has not been employed in QLD since leaving school last year. He would love a job so no unhelpful comments please.

Any advice  from parents who have experienced similar situations?

Cheers

Lou

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I am considering returning to UK. Sadly it will be without myhusband.

I currently have a car loan... only 2 years in.  Or shows how life changes so quickly. 

Can you pay of excess from uk? If I sell the car I will still owe them more money..I think. 

I don't want to leave debt and I'm too honest to run.  Wouldn't have a clue how to do it!

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The problem is that you can't sell your car.  You have to pay off the loan BEFORE you sell it.   

If you don't tell the finance company, leave the car with a friend in Australia and just keep paying the loan, the finance company won't care where you are.

The other option is to ring the finance company, tell them you're leaving the country and can't afford to pay out the loan, and see if they will accept the car back as settlement. 

 https://www.positivelendingsolutions.com.au/resources/information-centre/selling-under-car-finance/

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