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Moving abroad and paying back a loan

  • 24-05-2018 6:08pm
    #1
    Discodrisco
    Registered Users Posts: 13 ✭


    I'm starting work in July, and intend on taking out a loan for a car which I want to pay back over he next 3 years. Need the car to get to work.

    If I move abroad in a year, could I pay back the remaining loan over the next 2 years after? How does it work? I'm assuming It depends where I move to.

    Thank you


Comments

  • #2
    Four Phucs Ache
    Registered Users, Registered Users 2 Posts: 1,017 ✭✭✭Four Phucs Ache


    Sell the car and pay off loan if you move,

    Or,

    Keep the car and just transfer money back to your account to pay the loan.


  • #3
    Heres Johnny
    Closed Accounts Posts: 2,738 ✭✭✭Heres Johnny


    Don't keep a car not in use. Its just depreciating. Sell it and clear loan as already said. Or just pay back as normal and spend the cash. But I always recommend living debt free if possible. When you come back in 2 years buy the same car for thousands less.
    If this is your plan to sell in a year pick a car that will sell easily.


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