barclays finance help on macbook pro

Discussion in 'MacBook Pro' started by Baz178, Jan 20, 2013.

  1. Baz178 macrumors member

    Joined:
    Jul 9, 2012
    #1
    Hi i have been bought a iMac for my birthday and i also have a macbook pro on barclays finance and i was wondering, Can i sell my macbook pro or is it illegal. Just don't use it now i have a iMac thanks dan
     
  2. Macman45 macrumors demi-god

    Macman45

    Joined:
    Jul 29, 2011
    Location:
    Somewhere Back In The Long Ago
    #2
    Contact Barclays...technically the goods still belong to them until the loan is paid off, but if you plan to pay it off after the sale, I can't see why they'd give you a hard time...best to check first though.
     
  3. OllyW Moderator

    OllyW

    Staff Member

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    #3
    I thought this only applied to Hire Purchase and Lease to Purchase agreements?
     
  4. Swiss-G macrumors 6502a

    Swiss-G

    Joined:
    Jun 3, 2010
    Location:
    United Kingdom
    #4
    Is the loan secured against the asset, the MPB, or did you take out an unsecured personal loan to buy the MBP?

    If the former contact Barclays as stated above, if the later you are free to sell but you still have an obligation to pay off the loan or continue with the repayments.
     
  5. Macman45 macrumors demi-god

    Macman45

    Joined:
    Jul 29, 2011
    Location:
    Somewhere Back In The Long Ago
    #5
    I'm not really sure...Haven't had a loan for anything in years, just thought that giving them a bell might be the sensible way to go....I'm not sure if they still "Own" the Mac or it's just the loan obligation. Probably the latter having thought about it....As long as the payments are kept up, Barclays probably don't care if the OP still owns the Mac or not.
     
  6. KPOM macrumors G5

    Joined:
    Oct 23, 2010
    #6
    If it's the BarclayCard, it is an unsecured loan like any other credit card. That's why the interest rate is so high (if you don't pay it off before the deferred interest period). If your plan is to sell the MacBook Pro and then pay off the credit card just before the interest deferral ends, then that's fine.
     
  7. Rich74 macrumors regular

    Joined:
    Oct 31, 2012
    #7
    It's not a credit card it's a loan with Barclays finance. Same company, two different products.
     
  8. NewishMacGuy macrumors 6502a

    NewishMacGuy

    Joined:
    Aug 2, 2007
    #8
    It's very likely that it's an unsecured personal loan. There isn't really an active market for banks to sell on or securitize loans which are secured by personal use equipment precisely because its difficult to track and repo the asset if need be.

    Sell that computer and pay off the loan immediately. Financing assets which depreciate is generally a very bad idea unless they generate more in after-tax profits than the interest cost. You'll have to eat the difference between the retail price that you paid and the secondary market price, but really you've already lost that anyway.


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