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RE: Car Finance

  • 10-07-2013 10:57am
    #1
    friday02
    Registered Users, Registered Users 2 Posts: 11 ✭


    Hi.....Just looking for some advice please. I got my car 2 years ago from a car dealer. It was a 3 year old car. Got it with Ford Finance. The loan was originally for three years but I reduced my payments last year so I reckon I have about half of the car paid for. I have, I think, about 2 years left of finance (payments) to make. I'm considering changing the car now. Hope to trade it in against a newer car and continue with car finance. Maybe 1 or 2 years old. I'm just wondering about the finance I have on my car. Can I carry this 'finance loan' with the new car or how does it work? Any helpful advice would be appreciated. Thank you :-)


Comments

  • #2
    maximoose
    Registered Users, Registered Users 2 Posts: 9,209 ✭✭✭maximoose


    If you are trading in your car usually the dealer will settle the previous loan and incorporate it into a new loan against the new vehicle.

    Eg say your car is worth 5k, and the settlement figure on your existing loan is 2k. They will settle the 2k loan, and the remaining 3k value of your old car will go as the deposit against the new loan.


  • #3
    Gary Lkenny
    Registered Users, Registered Users 2 Posts: 3 ✭Gary Lkenny


    Hi
    I went to sell my motorcycle and found out the finance has been but on it. When I checked it was on Finance as a Volkswagen golf.

    I have tried in vain to get an answer from Volkswagen finance, any encounter this before.


  • #4
    colm_mcm
    Registered Users, Registered Users 2 Posts: 73,528 ✭✭✭✭colm_mcm


    I'd be putting similar regs to yours into cartell.ie, most likely a misprint somewhere.


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