You are right, it is a GFV, and when the car is changed that just gets written off. The car you give back always has equity, therefore you always have a deposit for the new one. I struck a great deal whereby I would only be paying exactly what I am paying now. When I got declined, they suggested my ...

Thank you for replying. I couldn't get £3000 from anyone, and if so, could only pay them pack the same amount I am paying car finance at the moment, which would make it a couple of years before they get the full amount. However, someone has offered to take the finance over in their name, and this is...

I took out Finance on a new car 3 years ago, paid a deposit, and was told there would be a lump sum at the end. I could pay this lump sum off, or trade the car in for a new one and the amount left would be written off, or give it back and owe nothing. My aim was to continually trade it in, thereby g...