bluming heck that company sounds like first class con artists. Fancy saying don't tell anyone about us. If you genuinly entered details believing you were looking at a ligit company, they must have gone to a lot of trouble to set this site up. Can imagine some poor people being taken in.
I have just spoken to Honda again Liz and asked that and they said no again unfortunately - However the very lovely kady gave me an extension on paying the balloon payment until 29th Feb so phew a bit of breathing space LOL - my eyes are bleeding I have looked at that many loan websites LOL!!
Hopefully you will find somone legitimate in the meantime that will help you out. Can't believe that company asked you not to mention them. What a fraudster. Keeping my finegrs crossed for you x
Liz, yep citroen where really good, the model of how to help, i have a reference letter from them when i finished paying for the car saying they would help with any future purchase after completion of my IVA. Like most people after an IVA im sure a newer car is on the list and my little C2 will be 7 years old and ready for replacing so nice to know ive got somewhere to turn.
I have a C2 too!! They are so much fun to drive! Mine is just coming up to 4 years old and with 3 years left on IVA I reckon it will be time to change by then! Out of all the finance companies i have had to deal with they come highly recommended by me and also I think their interest and APR rates are quite cheap! I think I must be one of the lucky ones as I have had no issues so far (touch wood) even when I was made redundant 2 times in a year during my first year! Fingers crossed it stays this way! What car do you fancy next? I have scrap book of things I want to buy once I am solvent. I rip it out and put them in there. it spurs me on!
Ive got the Vtr model one of original proper ones with the 1.6ltr engine and sensordrive, its like a pocket rocket. Next car will def be a Citroen again, i like the DS3 or if there are little ones about maybe the C4, hopefully next year the new C4 model will be about in the used car bit at my dealer.
Back to the OP, have you tried calling Honda's finance dept, don't call the dealer but go straight to the finance ask for the accounts manager and explain you would like to refinance the balloon payment over 24 months. It might not work, but then it might, explain how much you need the car and how it makes more sense to let them help you, im sure there is a better way to word it than my way.
Did you have a look at your Agreement is it a fixed loan agreement or a Hire purchase agreement, does it say anything like after 50% has been paid they cannot ask for it back if that’s the case then may be your IP could include the balloon in the IVA and you keep the car!?
I am no expert so please have a look at the Credit Agree and talk to your IP.
A friend of mine who has a motability car has been singing praises of C4. But then someone else said it was awful. Just goes to show how we all have different opinions of cars. LOL
It's down to personal preference - I wouldn't have another Mazda3 but I know some people who really rate them.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi Squidy - with a pcp/ balloon deal you know at the start that the final payment is mahoosive and it is part of the contract to either pay up or give the car back. So repossession would be possible on these deals. But when you give the car back they do actually buy it off you at the book rate. So it's an option to buy a cheap second hand car if you cannot pay the balloon or trade in for the new version. I'm up on this at the mo because him indoors is getting a pcp deal on an girly fiat for me to lease from him (pay the loan). I'm going to put this on my credit record to build it up a bit in anticipation of July 2015! Good god...I'll have lost my 20s and most of my 30s to debt. Bit depressed now.
oh Broke, hugs hun, its a bit of a rude awakening thinking of it in those terms. I think i was about 19 when I got my first shop card (thanks mum!!!!) and am 43 now so like you I've lost two decades to debt. Thats terrible to think in those terms.
I didn't realise it was PCP. I had a similar deal with
Chrysler which I paid a deposit financed 50% of the balance with a final payment which they would take the car in PX or I could hand it back or keeping paying my monthly payment for 36 months then the car was mine.
There are some "Conditional Sale Agreements" which you have different rights of ownership after so many payments are made!
Would they allow you to sell the car privately you might get a bit more than the dealer would offer?
I'm 57 and always thought I would be doing ok at this age - how wrong can you be!
Looking forward to retirement now.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Who would ever know there are so many ways to finance a car! It was a whole new world to me having had the same old fiesta since leaving uni! I suppose you could sell the car and pay the balloon from the proceeds - I don't think they care too much what you do as long as yu meet the terms. I'd have to check that they don't get first refusal though.
