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Red28
New Member

5 Posts

Posted - 15 May 2018 :  12:11:13  Show Profile  Reply with Quote
I have been in my trust deed for nearly 3 years, I have a car which is giving me a lot of problems, I want to sell it and get another one can I do this?
Thanks

TDA (Debt Adviser)
Trust Deed Expert



12536 Posts

Posted - 15 May 2018 :  12:58:39  Show Profile  Reply with Quote
Welcome to the forum Red28.

There's usually a way for this to work.

How much do you expect your car to sell for?

How will you fund the acquisition of another?

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Kevin Mapstone
Trust Deed Expert



3579 Posts

Posted - 15 May 2018 :  13:02:33  Show Profile  Reply with Quote
You'll need to speak to your Trustee about this, Red28. However, if you can make the case that the car's unreliability may affect your ability to get to work and that it is uneconomic to keep making repairs then I'm sure your trustee would be sympathetic.

What is your plan for financing the purchase of another car? Do you think the sale of the car you have will raise sufficient funds to get another that will do the job?

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Red28
New Member

5 Posts

Posted - 15 May 2018 :  13:20:37  Show Profile  Reply with Quote
I think my car would sell for 1700 and was hoping to use some of this money to get another one and give the rest of the money to my trustee, but not sure if this would be allowed
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TDA (Debt Adviser)
Trust Deed Expert



12536 Posts

Posted - 15 May 2018 :  14:02:01  Show Profile  Reply with Quote
Hi Red28.

I suspect your trustee would be happy for you to spend the full amount on a replacement vehicle.

Best to ask them directly of course.

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