You borrowed money against a Toyota Cavalier! incredible those things have no value only scrap price
kazbanz,
Nov 5, 9:14pm
OHH REALLY!-so without knowing who "they" are,How the loan was structured and how much is owing you can make that styatement!
tazcsv,
Nov 5, 9:21pm
I dont know any finance company that would release the security when there is still money oweing, thats the whole point of having security.
smac,
Nov 5, 9:21pm
What Kaz is getting at is the security the lender took for the loan is now worthless, so they may just release it. They may of course also demand something else as security or demand settlement.
The point of all this is, talk to the lender. Somebody who knows what they are talking about and what the possibilities are, not the first person to answer the phone.
hawat,
Nov 7, 2:51am
You are still wrong. Doesn't have to be a hire purchase agreement, can be any sort of chattels mortgage or instrument by way of security. And a judge (actually court registrar) only has to be involved if the security doc is an ibws. If the financier thinks you might do something which will diminish the value of their security they will (and can) repossess it even if your payments are up to date. Just stop paying insurance payments on the car and see. BUT the point I was trying to make is that these things CAN happen not that they WOULD. There seems such a small amount left to pay that it would be a pity. I'm just saying
shorebee,
Nov 7, 2:57am
your insurance should include a no excess glass cover,even third party etc. i think a cavaliar isa chrysler neon almost, regardless you sound fed up so i hope you find some resolve, put thereg on hold and get the balance down while you sourceacheap windscreen and do not sell for less than the loan balance unless you can clear it another way, good luck and all the best
kazbanz,
Nov 7, 11:52am
Not in the finance industry are ya!
heavydee,
Nov 7, 1:19pm
The simplest way out of the situation would be to find that money to settle the bill with the finance company.How!Well you could go for a credit card balance transfer, or some other such unsecured personal lending at the best interest rate you can find.The finance company will currently have an interest registered on the Government's PPSR register, which you need to have discharged before you can sell the car with a clear title.I recommend you do not try to get rid of the car before you've settled the balance of the loan - it will work out badly for you in the end.
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