Does anyone know much about finance on a car the situation is this.

The car is a year old (Fabia VRS) the condition is ok apart from the seats are bit dirty and there are scratches on the car were I had the lock drilled and also needs new lock.

I need to get rid of the car for personal reasons, can after 1 year can the car be taken back and sold to Skoda or am I better off selling it private just want to get rid of the finance on the car could anyone tell their opinion on the best way? As anyone done this before?

Thankyou in advance

Was it traditional finance or PCP?

Was it traditional finance or PCP?

Just traditional I think not sure what PCP is

Do you have a ballon payment, or at the end of the agreed term is the car yours?

Basically you are able to come out of finance agreements early, but you might be charged. I think if you have cleared more than half of the finance you do not get charged. You need to go to you finance provider and ask for a settlement figure. When you have that then you can work out how much the car 'owes you'.

Taking it directly to skoda means you are likely to get a very bad price because they are going to want to sell it on at a profit. The problem with selling it privatly is that someone with any sence is not going to want to spend a lot of money on a car that is not HPI clear, and looks like it has been broken into.

I am sure it will work out for you. I hope circumstances improve.

Do you have a ballon payment, or at the end of the agreed term is the car yours?

yes once the car is paid for it is mine 5 years i think

See what your local dealer will offer you and then maybe try and sell it private? Though depending on your deposit I'm guess your going to owe more than the car is worth.......depending on mileage condition etc.

Iirc you need to have paid over 50% of your finance before you are able to give the vehicle back to the finance company.

If you take it to a dealers they will not give you as much money as you would get if you were to sell it privately. If you did end up in a negative equity situation, it may be possible to either roll that 'balance' into another vehicle (if you were to part-ex your car at a garage and they then settled the finance on your behalf) or even take out a small loan to clear the negative balance.

If you need any help with approximate trade valuations, please feel free to pm me