Can I return my car to the finance company with a knocking noise from the car?

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11 Responses to “Can I return my car to the finance company with a knocking noise from the car?”

1. kayleigh w on: 15 November 2009 at 4:37 pm

   It is your responsibility to keep the car in excellent working order, and have carried out any repairs to it necessary – this will undoubtedly be contained in your HP (Hire Buy) agreement, along with keeping the car insured, taxed and regularly serviced. If the car is less than 3 years ancient then it can be returned to the manufacturer under warranty for repairs but only if the cause of the knocking noise is "not honest wear and tear" but a manufacturing defect.

   In reference to your finance agreement, and handing the car back then this is something that is POTENTIALLY possible. Most finance agreements will have in place a clause which states that once you have paid for more than 1/2 of the financed amount. i.e. if you have a 60 month finance agreement and you have paid more than 30 payments then you can hand the car back, providing it is in reasonable condition for its age, and free from defect – therefore you will have to get the repairs done 1st.

   My advice is to check your finance agreement carefully, but either way you will have to get the repairs done, as the finance company will not take the car back if it needs repair, and you are not keeping to the finance agreement if the car is not kept roadworthy.
2. sparkey on: 15 November 2009 at 4:37 pm

   just send it back
3. Bomber1961 on: 15 November 2009 at 4:37 pm

   send it back if your at fault they will soon let you know.
4. Natalie Cd on: 15 November 2009 at 4:37 pm

   If you send it back now, they will get a few close traders together who will bid against each other and you will be loadsa loadsa a cash out of pocket they dont want your car just cash………………..
5. Elizabeth S on: 15 November 2009 at 4:37 pm

   No you can take It back to them and If you are still paying on it they have to fix It
6. smile on: 15 November 2009 at 4:37 pm

   u agreed to the finace so u will have to keep paying they will say the knocking is down to wear n tear n u will have to pay to fix it
7. R.Womack on: 15 November 2009 at 4:37 pm

   If you take it back before the lease is up or you are not finished paying for it you will regret it. It is considered a voluntary repo on her credit. The car is then taken to an auction and sold and whatever is left over after the sell of the vehicle you will be responsible for paying. That repo will stay on your credit for 7 years and will probably come after you by getting a judgment.
8. oklatom on: 15 November 2009 at 4:37 pm

   The finance company doesn’t want it back, they want to be paid, monthly, as you agreed until the loan is paid off. If you don’t need the car any more, don’t drive it and you will save the cost of fuel. Once you have paid it off and get the clear title on it, you can then sell it if you like.

   If you give it back to the finance company and stop making payments, it will go on your credit record as a repossession.
9. Scott H on: 15 November 2009 at 4:37 pm

   Know that you don’t "just return it". You agreed to pay for it, and unless it’s paid off, you still owe the money, whether you need the car or not. They will sell the vehicle at auction at a discounted price and then subtract that from the remaining amount owed and come after you for the balance.
10. lee b on: 15 November 2009 at 4:37 pm

    firstly you do not say how much of the aggreement you have paid on your aggreement you will have a figure usually over halfway through the agreement ie 2.5 years into a 5 year agreement which you are legally allowed to hand the vehicle back to the finance company on condition that the vehicle is in excellent condition in respect of its age and the finance company can’t make you pay the rest of the loan off and can not report you or officially record this action in respect to your credit…..when i was in car sales i advised a few customers to do this….but finance houses do share information and although it wont show on credit serches you have returned the vehicle this info does get passed on and may have a bearing on futer credit attempts…my sugestion would be to read your credit aggreement very carefully
11. Me M on: 15 November 2009 at 4:37 pm

    Ummm…you didn’t buy a DVD with a scratch so you can’t just "Return it". You bought a car! If you the furnace goes out in your vacation home do you reckon you can "return it" just because it’s broken and you don’t need it anymore??
    Reckon, McFly…reckon!