SiDHEaD

Assuming the car isn't worth the current balance (due to mileage and the interest on the agreement), if the car gets written off, i understand the insurance co. pay the value to the finance company, but what about the difference.

Will the finance co want this in one go, or continue making the payments until it is cleared??

Andy

WRX_Rich

iTrader: (5)

please don't say what i think you are saying

SiDHEaD

Looks touch and go. Bob is looking at it today.

darlodge

Do you have GAP on the finance?

If so the finance company pay off the entire balance or the car and close the account, sorted.

Does sound like a bit of an odd question

Darren

SiDHEaD

No gap insurance as car was second hand.

I know for certain there will be an "outstanding balance", just wondering if anyone knew whether they'd want it in a lump or just carry on making payments (bear in mind there would then be no car to secure the debt..).

Blue Streak

If car is a write off and still under finance you will have to make up the difference. Also you have to pay them up straight away.. because under there terms they can no longer secure the finance on a car that is no longer functional.. I know as went through the same hassle when my Vectra GSI was wrote off afte me only owning it for 3 months..

SiDHEaD

thanks,

Luckily i think its ok - 4k damage so *should* be ok.