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need advice

  • 17-08-2011 9:49pm
    #1
    jason_carolan
    Registered Users, Registered Users 2 Posts: 72 ✭✭


    bought 2010 saloon in april of this year - paid 14000

    want to sell - clear finance of 5000 on the car and with any balance left over buy a small car say 2005-2006 for 5000


    any tips - sell private or what?? i've read this before where people downsize in the recession - would a garage take the car off me....i'm at my whits end - i really wanna get rid of it quick!!!!!!


Comments

  • #2
    Tigger
    Closed Accounts Posts: 16,705 ✭✭✭✭Tigger


    if the interest on the finance is front loaded you'll have to pay it anyway


  • #3
    jason_carolan
    Registered Users, Registered Users 2 Posts: 72 ✭✭jason_carolan


    staff loan -settlement figure 5k - no penalty - saving me money to clear quicker - should i try one of those place that buy cars for cash?>


  • #4
    bazz26
    Registered Users, Registered Users 2 Posts: 51,481 ✭✭✭✭bazz26


    Try and sell the car privately but be up front with a potential buyer about the outstanding finance, it will probably show up on a car check report anyway.

    Those cash for car places will give you well below it's market value because they know you are desperate to free up some cash and they have to make a profit from selling it on at the current market value too. Also in the current climate a regular garage is very unlikely to give you a swap for cash + a lesser valued car.


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