Author Topic: Debt warning over car finance payment holidays  (Read 1659 times)

ExitViaTheCashRamp

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Debt warning over car finance payment holidays
« on: May 01, 2020, 04:08:03 AM »
https://www.bbc.co.uk/news/health-52462333

 I leave the following without additional comment:

David Needham, 63, a salesman from West Sussex, had just signed a finance deal for a new Audi A6 on 2 March that costs 635 per month. But just 11 days later, the grandfather-of-two was furloughed. He has also been trying to secure a payment holiday with Volkswagen Financial Services since 19 March, with no success.

"When you factor in the insurance around one third of my furlough income is now going on my car and I've still got bills to pay," Mr Needham told the BBC.

ColoAndy

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Re: Debt warning over car finance payment holidays
« Reply #1 on: May 02, 2020, 01:17:08 PM »
Good grief.  Do people think before they act? 

Wrenchturner

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Re: Debt warning over car finance payment holidays
« Reply #2 on: May 02, 2020, 02:31:35 PM »
There's a guy on Twitter that catalogs real estate carnage in Vancouver but he's recently posted some crazy lease takeover offers:

https://twitter.com/mortimer_1/status/1256619314473349123

Would you accept $30k for taking over a lease on a luxury SUV?  Must be brutal terms on that lease.

penguintroopers

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Re: Debt warning over car finance payment holidays
« Reply #3 on: May 02, 2020, 04:12:16 PM »
There's a guy on Twitter that catalogs real estate carnage in Vancouver but he's recently posted some crazy lease takeover offers:

https://twitter.com/mortimer_1/status/1256619314473349123

Would you accept $30k for taking over a lease on a luxury SUV?  Must be brutal terms on that lease.

I did the math (not including taxes). $1800/mo (WHAT) x 38 mo = $68.4k!
« Last Edit: May 02, 2020, 04:14:25 PM by penguintroopers »

The_Big_H

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Re: Debt warning over car finance payment holidays
« Reply #4 on: May 03, 2020, 10:27:05 PM »
Stupid hurts!

ducky19

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Re: Debt warning over car finance payment holidays
« Reply #5 on: May 04, 2020, 10:57:07 AM »
There's a guy on Twitter that catalogs real estate carnage in Vancouver but he's recently posted some crazy lease takeover offers:

https://twitter.com/mortimer_1/status/1256619314473349123

Would you accept $30k for taking over a lease on a luxury SUV?  Must be brutal terms on that lease.

I did the math (not including taxes). $1800/mo (WHAT) x 38 mo = $68.4k!

Including taxes it's $77,966.12 CAD, which is still over $55,000 USD.