Get expert opinion. This is the place for new questions to be posted.
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Pbryan
- Posts: 5
- Joined: Mon Jan 22, 2007 1:59 pm
- Location:
I need to either extend my balloon payment on car HP due march 09 or refinance . We ended our Iva in APril this year. Any advice as to who offer this sort of finance??
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kabby3
- Posts: 304
- Joined: Sun Aug 17, 2008 4:19 pm
- Location: United Kingdom
Hi I managed to refinance my balloon payment on my car with the exisiting lender Renault...first go they declined me second go gave them all my info and were happy to help. APR was a little higer than my orignial payments but I am happy and can afford this.
Karen [:X]
On the slow safe road to success. Personal thanks to Melanie Giles Kallis Skippy Elv5 and all the other wonderful forum friends.
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melanie.n
- Posts: 79
- Joined: Thu Dec 06, 2007 11:03 pm
- Location: United Kingdom
Hi there
this is something that comes up quite often with HP. My advice would be in the first instance to contact the current HP company, ( but from experience they will only discuss this at the point that the balloon payment becomes due, or a month before. It is not something they will discuss or agree to earlier in the agreement.) If you explain the situation to them they will initially refuse to extend the HP agreement (from what previous clients have told me) but if you clearly state that unless they give you the opportunity to continue the monthly payments and thus clear the balloon payment with the monthly payments they will have to have the vehicle back, they usually agree, it may take 2 or 3 calls but it is something that is usually sorted out, the car is worthless to them, they want the money repaid, so it is in their best interests to agree to the continued monthly payments. Hope this helps
