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Thread: Selling a car with finance on it

  1. #1
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    Default Selling a car with finance on it

    Hi all,

    I about to sell my vectra sri and have finance outstanding on it.

    I don't have the money to clear the finance before the sale (or i wouldn't have financed it in the first place)

    Is it easy to sell a car with finance on as long as you're open with the buyer i.e. providing settlement statement and allowing them to make draft payable to finance co to clear finance with remainder to you??

    Any thoughts on this or tips on best way to do it gratefully received.

    Nick

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    Regular Member mhvcbv's Avatar
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    hi
    i think you will have to contact the finance company first before you sell
    and get them to ok it.

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    Full Member Big Sig's Avatar
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    As long as you or the buyer settles the finance at point of sale or befrore I think thats ok
    Now I need a turbo to keep up!

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    Yeah best to be open with any buyer, however some will walk away as soon as you mention it due to the risk they would be taking.

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    Regular Member ccsnet's Avatar
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    I rang up my lot and they said I could have 10 days ( I got it in B&W ) then made it part of the deal when I sold private that they guy paid off directly to the finance company & the rest to me.

    He then got documentation & proof as well so every one is happy....

    Terran

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    I bought my car with finance on it !! Paid off finance and gave seller the difference.All partys happy. Ah by the way paid by card over the phone.HTH

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    heers for your responses - especially yours super t - hopefully this will help to show it's not that bad a thing to sort.

    She's now for sale in the cars for sale section

    Cheers again
    Nick

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    Regular Member ccsnet's Avatar
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    Quote Originally Posted by Nickzx6r View Post
    heers for your responses - especially yours super t - hopefully this will help to show it's not that bad a thing to sort.

    She's now for sale in the cars for sale section

    Cheers again
    Nick
    Your Welcome... good luck.

    Terran

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    some finance company`s dont record it on hpi as some cases its classed as
    a fixed rate car loan which is a personal loan and not against the actual
    car so wot ya best doing to make sure is get it hpi`d and then it tell you if it
    is deffo registrered as finance or not.

    if its its of any help then pm me ya reg number/car details then i`ll get a hpi
    check done for you and let you know if it is or not.


    cheers

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    terran - my apols - yours is an excellent example of this working - cheers mate - hopefully i won't just have to drop it at the dealer and get my leg lifted :-)

    Andy - you sure you don't mind hpi'ing for me?? If not i'll send you the reg now.

    Cheers all
    Nick

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