Cash in asssets to reduce debt burden
Valuing your disposable assets is a useful first step in managing personal debts because these could be sold to reduce he burden. 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. What you will finally receive v. If the car was bought on finance a long time ago you may well have paid off most of the loan. If you acquired your car on a lease agreement the rules are entirely different. Find our how much you owe on your car by contacting the company for a balance. Repossession is the last resort of lenders who would prefer you sold your car to a dealer who will settle the balance including any missing payments.
Selling a car for cash, particularly if it needs to be done quickly, often means taking less than the car is really worth. Your local dealer will only want your old car if you buy a brand new one at full list price. So few people now read local newspapers than private classified advertising of used cars is often a waste of time.
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. Values can only be ontained on cars newer than 7 years and under 100 k mileage. Record all the deatils of your second hand car on the webpage form and a representative will call you back with a cash offer. Agreement of valuation would result in a call to make an appointment to meet, pay for and collect the car. If agreement is reached on the value of the car you are selling the next step is to arrange the meeting to view and pay.
