Cars & Vehicles

Can you part exchange a car already on finance?

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2008-08-23 12:58:06
2008-08-23 12:58:06

Hi I part exchanged a car which was a market value of £4995 when I bought it on finance after just 9 months. The value of the car I wanted was higher and the way it worked was the new car manu paid me the settlement figure as a part exchange amount and that was paid off. We then started a new finance agreement for the new car. I don't know if it works when you want to buy a cheaper car than the car you are part exchanging.

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Part-ex is short for part exchange. A customer buying a new car at a showroom may often have their old car taken in part-exchange, so slightly reducing the cost of the new car.


You should contact the finance company. Perhaps, you can make smaller payments and stretch out the loan or perhaps you can turn the car in and avoid them the trouble of repossessing the car in exchange for not having your credit ruined.


its very difficult to finance car with no credit if you have some bad credit then you have chance to get car finance.


It means that the dealer might accept your car as a part of payment but of course the dealer and you have to agree on a price for your car.


You still owe the finance company the balance owed.


Yes, they can. They can't finance you car if your car is a stolen car. When you put your car from a finance company, make sure that your car isn't stolen and bought it in a big car company.


My car was crashed and I lost my job. How do I return the finance car to the lender?


find out another dealer who can finance your car.


my interuptation of part exchange to clear would be ....not up to the standard that the dealer would normally sell on his forecourt.



It should not take very long to finance a car, depending on the car's model, condition, etc and also the finance company you are financing the car from.



There are many businesses that offer car finance to customers. Some of these businesses are 'Stratton Finance', 'Cars Direct', 'Credit Plus', 'Wells Fargo' and 'Car Craft'.


I will love to finance a new car!


YES, they are called FINANCE COMPANIES and charge HIGH interest rates. If the car is already repoed, your chances are NOT good.


If you mean can the dealership take your car, if you don't make your payments. Yes. Usually the finance company will take your car, because the dealership has already passed your account to the finance company. If you have made a deal for a car that the dealership later discovers you don't meet the financial criteria, they will take your car back and offer you a lesser model for deal that suits your budget better.


Home equity loan perhaps. No bank is going to finance a totaled car.


Sometimes you can still finance a car from a dealer with poor credit but with a higher interest rate. There are also independent car lots that will finance a car for you. The only drawbacks from an independent car lot is they usually charge more interest and down payment.


Definitely you can finance a used car with no or bad credit. Actually it is very easy these days. The reason is most of the used car dealers and used car finance offer it because your used car is a collateral until you pay off the loan.


Most car dealerships have their own financing departments where one can finance the purchase of a car. In addition, most banks and credit unions offer loans to finance a car, including a BMW.


The amount you owe on your old car is added to the loan on the new car,and that finance company is suppose to pay off your old loan.


Technically you are not the owner of the vehicle until you have paid every repayment it is the property of the finance company. Just because the vehicle is in your possession does not mean that it is yours as the contract that you signed has not been forfilled (the paying in full part)


No, a person can not finance a car with just a drivers permit. A person will need to show that they have a drivers license.


One can obtain a personal car finance from various websites like DMV and RBCRoyalBank. One could also visit a local bank and ask if they can have a personal car finance.



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