Making an offer to finance company

R

redbhoy

Registered User
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394
Hello,

I took finance out for a car about 2.5 years ago.
Paid 9.5K for car
Repayments are 250 per month for 4 years. 7K paid to date. 5K left to pay.
A friend recently said she made an offer to Bank Of Scotland on a car loan and it was accepted (Owed 6, offered 4 or thereabouts)

Im thinking of making an offer. Any ideas if this will work, whats the best way to go about it and what should I offer? My lender was Friends First who have stopped trading afaik.

Any advice appreciated
Thanks
RB
 
Make them the offer without prejudice and say it is conditional on it been in full and final settlement.
 
Can this really be done?
I've a loan with about 6 grand remaining on it. Does this mean i can offer them a lesser amount in order to clear their books?
How does one go about doing this?
 
I think you would have to be defaulting on making payments first demonstrating that you are in financial stress before the bank would consider accepting a reduction in the outstanding amount.
 
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