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Jenny
Jenny, Solicitor
Category: Law
Satisfied Customers: 7731
Experience:  Qualified Solicitor specialising in Employment Law and general legal matters. Please start your question For Jenny Only
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Can you help with car finance? Plymouth, I have bought a car

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Can you help with car finance?
JA: Where are you? It matters because laws vary by location.
Customer: Plymouth
JA: What steps have you taken so far?
Customer: I have bought a car on finance
JA: Anything else you want the Lawyer to know before I connect you?
Customer: I would like to get out of the deal and get a car of my own

Hello my name is***** am a solicitor and I am happy to help you today.

Please can you explain the situation in more detail?

Customer: replied 8 days ago.
A year ago I bought a car on finance, and I would like to back out of the deal, trying to part exchange my car for an older one.

Ok does the contract allow you to do that?

Customer: replied 8 days ago.
I am able to part exchange my car yes. As long as the finance company gets the settlement figure.
I have the settlement figure, but I was wondering if my idea would work?Contact a dealership to swap cars (mine for theirs), for them to pay for my settlement figure, and they get the money from selling my car, which after they sell they will get a profit from.

Apologies for the short delay.

Yes it is quite possible (and common) to do this.

There is some useful information about this on the Money Advice website (attached). https://www.moneyexpert.com/car-finance/trade-in-car-with-outstanding-finance/

Do you have any further questions please?

Customer: replied 8 days ago.
No questions, thank you

no problem, I would be very grateful if you would take the time to rate my answer before leaving the site today, thank you and all the best.

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