New user to the forum so please go easy on me
i was wondering if any of you out there had an experience of the situation im currently in?
i have a car on finance which i took out over 60 months...im currently about 16 months into this agreement. Due to me now looking to buy a house i need out so i can borrow more/ be able to manage myself with a lot more ease each month...
This is my current situation..
I owe Â£9100
Finance company deductions Â£1100
My Settlement is Â£8000
A very kind family member has offered to give me Â£3000 towards paying my car off however im not sure if im best paying Â£3000 into my settlement figure and put the rest on my 0% credit card....OR contact my finance company and make an over payment of Â£3000 then request a new settlement figure? im thinking if i make an over payment instead of putting it into my settlement figure i might save a bit on interest? (request another settlement figure in a months time) and hopefully my new figure would be lower than Â£5000 due to the outstanding balance being less than the Â£9100 (basing it on Â£6100).
If anyone could help me hat would be brilliant...i hope ive not tied you all in knots!
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