My son has a car loan through a finance company that he has fallen behind in repaying and due to sporadic employment doesn't look like he will be able to repay. What are his options?
8 years ago
Responses
Colin Rice
Current Rating: 5 / 5
Finance Broker
Wanneroo, WA
8 years ago
First port of call would be the lender as most will have a provision for hardship. Ask what the "payout figure" is as it may be worthwhile considering what the car is worth v what he owes in order to consider a sale and downsize.