Nissan Almera (2000 - 2006) - HPI (Part-Exchange)

Honest John Back Room » Motoring discussion
View Threaded
Mon 14 Jan 2008 14:03
HPI (Part-Exchange) - bhoy wonder
Colleague at work has a Nissan Almera. He is looking to part-exchange. But still has outstanding finance on the car. Can he part-exchange this car? If so how does he make sure the outstanding finance is paid?
Reply | Report as offensive | Link
Mon 14 Jan 2008 14:14
HPI (Part-Exchange) - v0n
Being Almera, it almost certainly will have negative equity, meaning the total of finance left vs part exchange value will leave additional sum of money to be added to the new finance. Not all dealers will do it. Depending on how long was the original finance for and how long he has kept the car there might be easier way out of it than part exchange - the 50% voluntary termination clause in hire purchase contract. A lot of people don't read through their HP documents, but basically it's obligatory clause which means that if he already paid half way through the finance or is close to 50% mark (close enough to send them remaining sum to the total of 50% of finance) he can return the car to finance company, in accordance with contractual obligations, without any negative impact on his credit and finance company can do zilch to stop him.

Edited by v0n on 14/01/2008 at 14:15

Reply | Report as offensive | Link

Our honest used car pricing is a little bit different to all the others. You can get to our values through make or model - you don’t have to follow a prescribed route. Plus, it’s live, which means we can react to changes in the market quicker than any printed price guide.

Honest Used Car Prices

From which small car to buy at which price point to the best UK-built cars, our Top 10s have the lot. Click now for your shortlist.

Unsure of what to buy? Our Top 10s are here to help you....