Cars with outstanding finance

[Dallas7]

Hi

We are looking to sell our very juicy 4x4 for a smaller, more economical alternitive. Problem is, there is finance outstanding on the vehicle and in the current economic climate i doubt very much that a garage will pay even remotely close to what is outstanding - which means we will have to pay the balance. We have very limited funds at the moment and i was just wondering if anyone had ever heard of garages/car salesmen accepting another vehicle for the shortfall??

We have a very small fiat that is currently off the road due to a blown head gasket - worth about �800 when up and running - do you think we would be able to offer the toyota and the fiat in exchange for another much cheaper vehicle, while still clearing the outstanding finance on the toyota???

Any comments will be helpful!!

[Ethel]

That Fiat may be worth about �800 to you, it will be worth much less to the garage. No harm in asking though - and you should get a few quotes for offers on your car, too.

Some garages won't buy 4x4s at the moment because they are too hard to sell at any price

[chas2008]

as Ethel says, many garages wont p/ex 4 x 4s at the moment ( apart from doing a deal with another 4 x 4) they refuse to touch them and with outstanding finance it becomes even more of an issue..

[eastern]

Unless you MUST sell this vehicle I would recommend hanging onto it. I havn't heard of a cheap to run 4X4 so whatever you buy is going to cost you, especially with you being in a deficite position. You can buy a heck of a lot of fuel for what you might spend trading down. If you must sell try it privately first, garages will squeeze the pips out of you. As for your FIAT I don't think they will entertain you at all. Sorry if its not what you want to hear and I might be wrong, but good luck