Hi guys,
This is my situation and I would appreciate any one with a bit of advise for me. Its to relay information to a family member.
My younger sister bought and new '07 car lat year, well a small jeep. She has since secured a house with the shared ownership scheme so she has tried off loading the car and surprise, surprise this is not possible as no one even the garages are interested. So now she has a substantial car loan to repay and a mortgage soon and these combined will cripple her with bills etc.
She moved the car loan from finance to personal loan in anticipation of selling it, why she done this I do not know.
So now she needs options on how to get rid of this loan. I have suggested that she surrender the car the bank? Is this now possible since she moved the loan from finance or is it even possible at all?
Anyone out there share any advice apart from the obvious!
Thanks,
This is my situation and I would appreciate any one with a bit of advise for me. Its to relay information to a family member.
My younger sister bought and new '07 car lat year, well a small jeep. She has since secured a house with the shared ownership scheme so she has tried off loading the car and surprise, surprise this is not possible as no one even the garages are interested. So now she has a substantial car loan to repay and a mortgage soon and these combined will cripple her with bills etc.
She moved the car loan from finance to personal loan in anticipation of selling it, why she done this I do not know.
So now she needs options on how to get rid of this loan. I have suggested that she surrender the car the bank? Is this now possible since she moved the loan from finance or is it even possible at all?
Anyone out there share any advice apart from the obvious!
Thanks,