car finance

[eeyore84]

i have a car on finance but am finding the payments take me to my limit each month, do i have any rights to trade the car for a cheaper one with lower payments? thanks

[Doc_Spock]

yes

[Abdulmajid]

Errrrr no.

The finance house own the car technically as you will see on your finance plan with the final option to buy payment. This may simply be the same amount as your monthly payments.

That is what HPi checks are all about.

The way round it will be to get a car from the same garage using the same finance house (or in car credit firm) if its a major dealer.

But in short no. Anybody with half a brain who buys your car should do an HPi check and see you do not own it.