Emigrating, but how to get rid of a car I still owe on

[Saltex]

So i'm possibly emigrating at the end of the year, if not sooner if I can get things sorted out sooner, but my main problem is, how do I get rid of my car, I still owe quite a bit on the car and the settlement value is still quite high, that I doubt that any car dealers would be willing to settle the amount. I am financed with wesbank, do they maybe have some sort of option?

 

[Dan C]

Check with Wesbank. They may allow another person to just take over the payments if you think you won't get settlement.

 

[zippy]

Sold my car and bike some years back. Had the car for 9 months. Sold them for the settlement value. The chap who bought the bike was happy. It was cheaper than a dealer for the same model. Car as well. Maybe I was lucky. I probably could have got more for both, but had to settle as I had limited time to keep the visa valid.

 

[Maverick Jester]

Have you contacted any dealers to find out how much they would offer you for the vehicle?

 

[Sinbad]

Check with Wesbank. They may allow another person to just take over the payments if you think you won't get settlement.

no they won't.

 

[noswal]

Assuming you are emigrating to a job with better pay then sending money back here to cover the remaining payments shouldn't be hard.

 

[chrisc]

Just do a duck

 

[bwana]

Assuming you are emigrating to a job with better pay then sending money back here to cover the remaining payments shouldn't be hard.

Yeah, the OP can just continue making payments overseas. Since the bank is probably the title holder you'll want to contact them first and find out what they're willing to do.

Defaulting is not advisable.

 

[Saltex]

Ya was also thinking of just paying it back once im overseas, the settlement on my car is 96k, and it sounds like dealers will only give me between 70-80k

 

[MKFrost]

Just do a duck

and take the car with...

 

[Sinbad]

Ya was also thinking of just paying it back once im overseas, the settlement on my car is 96k, and it sounds like dealers will only give me between 70-80k

Borrow the balance from friends or family and pay it back once you're settled overseas.

 

[rodga]

what car is it?

 

[Saltex]

what car is it?

Opel Astra GTC 1.9 CDTI 2006 120k km

 

[Pyro]

How long have you had it? And what are the financing terms?

 

[Rocket-Boy]

I only saw one on autotrader with 90k on the clock going for R139k
Maybe you could sell privately to get your settlement?

 

[ToxicBunny]

If the dealers are going to offer you R80k, and your settlement is R96k... you can easily sell privately for the settlement value (you will have buyers lining up)

If the dealer will pay you R80k, they will put it on their floor for R120k (or close to it)

 

[Sensorei]

You will definitely get your settlement value through a private sale. R96k is a BARGAIN.

 

[ToxicBunny]

Yup you will...

Advertise it for R110k and you should get offers from R100k if you ask me.

 

[Other Pineapple Smurf]

Opel Astra GTC 1.9 CDTI 2006 120k km

That car has quiet a good resale value for something that is 7 years old.