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Surrendering Vehicle to Bank - Higher Purchase Vehicle Assessments

  • 15-04-2010 6:55pm
    #1
    soapbloggs
    Registered Users, Registered Users 2 Posts: 95 ✭✭


    Hi,

    I'm surrendering my car to the bank and they are promising me a visit by an assessor to check over the vehicle. Apparently wear and tear is acceptable, but there are a few faults that I'm not sure whether will full under this. Does anyone know an honest reliable garage with expertise of HP Car assessments so I can check if repairs are necessary?

    Any assistance will be greatly appreciated.


Comments

  • #2
    sgthighway
    Registered Users, Registered Users 2 Posts: 1,547 ✭✭✭sgthighway


    Sorry I can't help but your location might help get a better answer.

    On another note do you mind telling us how much is owed on the car and what year/type is it. Would the bank not say "give us x amount of euros and we will call it quits". I'm looking into buying a car an would love to know is there anyway of buying a reposessed car without going through an auction.


  • #3
    chris85
    Registered Users, Registered Users 2 Posts: 4,502 ✭✭✭chris85


    soapbloggs wrote: »
    Hi,

    I'm surrendering my car to the bank and they are promising me a visit by an assessor to check over the vehicle. Apparently wear and tear is acceptable, but there are a few faults that I'm not sure whether will full under this. Does anyone know an honest reliable garage with expertise of HP Car assessments so I can check if repairs are necessary?

    Any assistance will be greatly appreciated.

    They will generally advise if there is a balance due to cover wear and tear and you will be doing a voluntary termination. just dont sign the vluntary surrender form no matter what they say.

    Unsure where would do an independant evaluation on it.


  • #4
    MunsterCycling
    Registered Users, Registered Users 2 Posts: 4,864 ✭✭✭MunsterCycling


    Don't forget if you are after paying over half the finance amount then you can avail of the "half-rule", search here, there was a thread about it recently.

    MC


  • #5
    vectra
    Registered Users, Registered Users 2 Posts: 15,626 ✭✭✭✭vectra


    sgthighway wrote: »
    . I'm looking into buying a car an would love to know is there anyway of buying a reposessed car without going through an auction.
    I would love to benefit from others misfortune

    Fixed that there for you :(


  • #6
    soapbloggs
    Registered Users, Registered Users 2 Posts: 95 ✭✭soapbloggs


    Hi,

    My apologies, I was in a rush earlier. My location is Galway city. I'm exploiting the 'half paid' loan rule. The remaining balance on the loan is 10k, if I terminate the contract and hand back the car, they'll write this off. But of course that's subject to the assessors report and I feel if I'm not careful they'll find a way of taking advantage of this to counter their loss.


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  • #7
    mickdw
    Registered Users, Registered Users 2 Posts: 23,688 ✭✭✭✭mickdw


    vectra wrote: »
    Fixed that there for you :(

    I dont see anything wrong with buying repossessed direct. It is of no help to the person who losses the car to allow a car dealer buy it & take some profit out being selling it on again. Also in this case, the OP is getting out by choice & screwing the bank legally so its all good.


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