Tag - car repayments

When a car becomes a debt trap

If you can no longer afford your car, it’s time to take action. Here are your options. Lucky wrote to me to find out whether or not he should sell his BMW for a loss as the cost of the car is having serious consequences on his other financial commitments. Lucky’s story is similar to that of many readers who have written in to me recently...

What to do when you fall behind on repayments

Lindi wrote to me looking for advice regarding her car repayments. She had fallen behind on her repayments to BMW Finance as her business was in financial difficulty. She wanted to find out if she could hand back the car to the financial institution and what the implications would be on her credit profile. By the time I received the query, BMW...