type-r unwanted purchase, can i return?

[jimboozer]

I have been a stupid boy and bought a car I can't really afford. Two months ago I bought a new honda civic type-r on credit (£14k) with 3 year credit and final purchase option. The final price will be 17k. I have since realised I don't really need this car as its too dear to commute with. Does anyone know if I can take it to a dealer and say go for a cheaper car and the dealer will pay off all the remaining credit on the honda and give me a new credit deal for the cheaper car? I would probably be going for a £4-5k golf.

Is this possible?


Thanks.

[salvadorescobar]

I just part ex'd a car last week with outstanding finance on it. I part ex'd it for a more expensive car so there is a difference in what I did. However; I had to get a settlement figure from the finance company and then offset this when I got new finance on the new car.

I guess in your case you could sell the Honda to a garage and arrange for them to settle with the finance company for you. The only problem is forsee is that the Honda will have depreciated in value significantly since you bought it and you might find that you end up in negative equity as a result. (i.e. the garage will give you less than you owe on the Honda).

There will be a penalty figure on settling early; but this will not be the full interest over the three years. It is more likely to be one months interest.

[CJCROCKO]

if i was you i would try to sell the car independantly, because a) they will only give you trade price OR a must depreciated figure for your car. b) you will get more in a private sale, just remember to state that outstanding funds to be cleared or something. could sell on ebay here are a couple is one i have seen ME 1 ME 2
if not a car like that would fetch a fair whack in boy racer mags try max power, redline, then the specialist honda ones even forums,

[urbsy]

You can't sell a car that has chucky on it m8 without clearing it first.

I've seen peeps sell the car after getting a settlement figure from the chucky company and then get a loan of some sort to cover the difference.

You may find a dealer that will cover the chucky and then add the shortfall of the Honda's value to the cost of the new car but this is a grey area.

A chat with the dealer might be in order m8, there advise will be free and knowledgeable.

If it was me and I had gap insurance, I'd break a window in my house and say someone stole the car with the keys, then I'd break it for spares.

P.S the above comment is purely fictional and is not to be used in the real world.

urbsy

[salvadorescobar]

Ah gap insurance - genius! Maybe one of the lads on here can help you lose it?

[DJAd]

haha i'll have all the running gear ;-)

[urbsy]

I'll have the rest

urbsy :whistle

[jackroo]

I have been a stupid boy and bought a car I can't really afford. Two months ago I bought a new honda civic type-r on credit (£14k) with 3 year credit and final purchase option. The final price will be 17k. I have since realised I don't really need this car as its too dear to commute with. Does anyone know if I can take it to a dealer and say go for a cheaper car and the dealer will pay off all the remaining credit on the honda and give me a new credit deal for the cheaper car? I would probably be going for a £4-5k golf.

Is this possible?


Thanks.

If you want to sell it independent let me know I might have it off you, I have a golf GTi Black 1.8 125bhp really nice 18" 65k on clock will p/x it. Let me know if you want more info pictures etc?

Many thanks