One of first steps of managing personal debts is to examine any assets which could be liquidated to raise cash with which to clear creditors. 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 ir vehicle, even if was bought with finance or hire purchase. Basically, difference between what is owed to bank/finance company and cash value of car is asset value. There may only be a small balance to pay to loan company if agreement is nearing its term. If your car is leased non of this is likely to apply to you. The settlement figure for your loan can be obtained by contacting lender. Repossession is last resort of lenders who would prefer you sold your car to a dealer who will settle balance including any missing payments.

Selling a car for cash, particularly if it needs to be done quickly, often means taking less than car is really worth. Local garages will make you a low offer for you old car, even if you a buying brand new one. The readership of local newspapers is now so small than few people have any hope of finding a private cash buyer for ir car.

There are now a number of online services which will buy your quality used car for cash offeroing a quick decsion over phone. Only cars less than seven years of age and with under 100k miles on clock will be considered. Complete form on website and provide all information required and you will quickly receive a valuation by phone. The valuation is not agreement to sell and you can think it over before deciding. If agreement is reached on value of car you are selling next step is to arrange meeting to view and pay.

 

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