I got a loan of money to clear a car loan from my father this year, so we could get a mortgage.
Now I want to change my car early next year and pay my father back, but how would i go about it?
so far this is all I can think of...
Start paying my dad back so much per month myself for the 8k he loaned me, when it comes to changing the car, trade it in against the cost of a newer car (id probably get 7k if i was lucky) and secure loan on the balance left after trade in?
is there any other route I could take?
im seriously confused here as to what to do, i mean i can afford repayments but im not sure as to how to go about it.
thanks
Now I want to change my car early next year and pay my father back, but how would i go about it?
so far this is all I can think of...
Start paying my dad back so much per month myself for the 8k he loaned me, when it comes to changing the car, trade it in against the cost of a newer car (id probably get 7k if i was lucky) and secure loan on the balance left after trade in?
is there any other route I could take?
im seriously confused here as to what to do, i mean i can afford repayments but im not sure as to how to go about it.
thanks