Can I get out of this car finance?

[BreadAndButter]

Right, I bought a lemon.. on finance.

 

Its becoming an absolute money pit, the amount of miles I drive I need a reliable car.

 

Ive broken down eveyr month so far, aways something blowing and costing £500

The 50% mark on the finance has passed, ages ago, ive got about a year left

but a) the car wont be worth anything by then and

b) its asking for yet again more money.

 

The problem I have with the “just give it back” argument is ive been told it needs to be in A1 condition.

 

Well, as it’s a lemon the ecu is corrupt ,

the dash flashes like a Christmas tree,

the radio doesn’t work anymore (arial ripped off!) and there are dents and dings around the car.

 

So, in theory, its not a1 and could potentially get a mechanic to make it A1 and charge me most of the £1700 left on the finance.

 

Ive also just got my credit file back on track, I don’t want another default or CCJ.

 

My first thought was to pay off the finance early from a credit card and sell it, then use the same company to get a new car.

 

What are my options?

[sequenci]

if you return under the volutary termination clause (e.g. the 50% rule) the car needs not be in A1 condition - it simply needs to be in reasonable condition for it's year. From what you've mentioned it may fall short of that, as such you could be chased for further costs once you've returned the vehicle.

 

How long have you had the car for?

[BreadAndButter]

Well it was an 04 plate when I got it 20 months ago.

 

Its not in bad shape, just these 'issues'.

 

If i got the ecu sorted i gues si could be onto something?

 

I guess that company wouldnt offer me finance again though.... The best they offered so far was to take whats owed and slap it on a new cars finance :/

[sequenci]

Did you not go back to the retailer when all of these issues started occuring? You may have statutory rights under the Sale of Goods Act.

[BreadAndButter]

I would have loved to, however I bought the car 200 miles from my house.. they KNEW I wouldnt make use of their 3 month guarantee

 

When i broke down two weeks later, the car wasnt drivable, AA tow to garage, £500 later ...

. back on the road until the next failure.. .£500..

 

. then the next.. £500..

 

. now i can hear the suspension creaking, wheel wobble, radiators leaking, ecu has corrupted, radio ariel flew off.

.. and ive hit the RAC's callout fair usage policy!

 

Really confused what to do.

 

The car is worth 900-1200 or so when in good condition (working)

The clutch needs doing, upper wishbones and a new MAF and cambelt's due in 7k.

 

1700 left on the finance.

 

I could potentially, pay it off using a credit card, get it sorted and sell it off to clear most of the credit card debt then take out a new loan with them.

 

My missus says keep paying it off and run it into the ground, but i dont think i can do another year of monthly breakdowns!

 

Or i get it sorted, hand the car back and then risk not being able to get another car loan from anywhere

[zumbanikki]

just give it back you don't get a black mark on your credit file as we did this about 3 years ago when my husband lost his job.

 

maybe as well you need to look at a cheaper car next time as all cars can need repairs he bought a 400 pound car with 12 months mot and 3 years later he still has it and its only cost about 200pounds for the mots.

[dx100uk]

ideally you should have gotten this done under SOGA or the selling of good act.

 

theres no way you should have had to have paid +£1500 for faults on a car purchased 20mts ago.

 

nothing whatsoever to do with any warranty, that's in ADDITION to your rights under SOGA etc.

 

http://www.adviceguide.org.uk/england/consumer_e/consumer1_cars_and_other_vehicles_e/cars_buying_a_used_car_e.htm

 

dx

[dx100uk]

and the finance company are EQUALLY responsible.

 

pers if this were me i'd be after all the money back paid for 'repairs'

 

and the car be fixed or the agreement cancelled.

 

dx