Archive for the ‘my’ tag
You may be better off than you think
Understanding your assets, as well as your liabilities, is essential to an effective debt management strategy. Make a list and include:
- Property investments
- Stocks & Shares
- Antiquities & collectables
- Savings accounts
- Premium Bonds
- Leisure equipments – cameras, bikes, snowboards etc.
- Cars, motorbikes, boats
Car owners can unknowingly have large amounts of equity locked up in their vehicle, even if was bought with finance or hire purchase. The valuation, less anything outstanding on the loan is the asset avlue. The shorter time that you have had the loan the more will be owing to the finance company. Leased car are subject to a hire agreement and these guidelines do not apply in that case. Before you do anything else you can get a final balance from your loan provider. Any payment arrears will be settled by the buyer if agreement is made to buy your car and this is preferable to repossession.
Selling a car for cash, particularly if it needs to be done quickly, often means taking less than the car is really worth. New car salesmen will take your used car but only if they can get it really cheap in exchange for new one. Cars for sale ads in the local press have been superceded by the Internet which most people now use to look for cars.
Websites such as Sellmycar4cash buy used cars to use as stock for main dealers and offer to value and buy your car quickly without any fees or risk. All vehicles must have milage no higher than 100,000 and must be registered after 2002. The website contains a form into which you can add some basic information before receiving a phone call with the car valuation. Reject or accept any valuation as you see fit, or think about it for a while. On accepting the offer you will need to agree a day to view and receive your cash payment.