car repayments

[rangersjoe]

i am paying my car off over 5 years at �181.00 per month. i am now on the sick and cant make ends meet to make the repayments, i didnt take any cover out with the car. can i get help with the repayments or freeze the repayments???

[CheekyChops]

You can't get any help with the repayments, no. To find out if you can freeze them, you should contact the finance company concerned and explain your situation to them.

[morg_monster]

Yep, best bet is to get in touch with the finance company. You never know, they may be sympathetic, especially if you suggest a lower payment amount - showing that you are still willing to give them money. It will be a hassle for them to repossess the car and so they may be happy to accept lower payments rather than do this.

[spaced]

trust me, repossesing a car is no hassle. Its a long process before its gets to repossession, but its very easy/ Be warned that lease and finance companies state your vehicle as "stolen" just before they repossess, to stop you from driving it. Police are informed. so if you drive it the registration will come up as stolen vehicle. in effect you are using something that is not yours as you have not paid it. I work in fleet management, but my last job was working for a lease company doing their contracts. This thing happended daily.

Most finance companies will not let you pay less of freeze, some may show a bit of grace but dont hold your breath. All they are interested in is getting their money back from the product you are using. They know that by repossessing the vehicle they can lease/finance to someone else who will pay the monthly installments.