Selling car with finance

Can you sell a car with outstanding finance? How do you sell a financed car privately? However, selling a car with outstanding finance without telling the buyer is illegal.

Until the finance is settled (i.e. until you reach the end of the finance term), the car is still owned by the finance company, so it’s not yours to sell. There are ways to settle your finance and sell the car, though.

Your chances of selling or trading a car on finance ultimately depend on what kind of car finance deal you have and how flexible it is. Can I sell a car with outstanding hire purchase finance (HP)?

The lender maintains ownership of the car during a hire purchase contract until you have paid off all of the agreement. Changed your mind on a car finance deal or you find yourself struggling financially?

No you can’t, as the lender is the legal owner of the car until the finance is settled. In order to sell the car, you’ll have to end the hire purchase agreement early.

When looking to sell a vehicle with outstanding finance, it’s important to remember that until the car ’s finance is paid the vehicle doesn’t actually belong to you.

It’s against the law to knowingly sell a vehicle with outstanding finance attached to it and as all companies register finance on HPI and Experian databases to protect buyers, it’s easy to find out if a vehicle has. With HP or PCP finance agreements, you are unable to sell the car privately whilst you have outstanding finance as the lender is the owner of the car until you have repaid the finance agreement or paid the settlement figure in full.

Although you’ll be offered a trade to below-trade price for your car a car buying service is a simple way to sell a financed car. All car buyer’s services will know if a car has money outstanding. You need to obtain your settle figure and letter and take it with you when selling your car.

Whether you can sell a car with outstanding finance will depend upon your situation and the type of finance agreement that has been taken out, we have taken. That way, you’ll have a clear title that you can simply sign over to the buyer. This is most attractive to buyers, so you’ll have an easier time selling the car. If you want to sell a financed car without paying it off, getting the title will be a hassle, so some buyers may be hesitant to buy.

The price you’ll get will be based on the car ’s trade value and condition, so it won’t be the best price possible. With hire purchase, it is the finance provider, rather than the dealer, who is legally responsible if there are problems with the car. Car finance mis- selling scandal.

Mis- selling a car finance deal means that you have either received poor advice, you weren’t given all the information about a deal or the risks weren’t made clear to you. It usually leads to you ending up with a deal and a car that doesn’t suit your needs or financial means.

Why sell your car the Motorway?

From Ford to Ferrari, you can compare prices for any used car. Every car buyer can clear your car finance to make the transaction simple. Sell any make or model. Transparent pricing.

Our TruePrice technology predicts what you’re likely to receive. We do this so that no matter who is selling the car, you have the option to look at a monthly finance option. Drivers who have bought cars using a type of finance deal from a dealer are being warned they might have fallen victim to a new type of mis- selling scandal.

This is according to the National Association of Commercial Finance Brokers (NACFB), which says that many buyers could have had the wool pulled over their eyes by car dealers. If you plan on selling the car as soon as it’s paid off or you only have a small amount left to pay off, then a small personal loan might be more suitable than refinancing your loan.

Consolidate you debt. If you’re selling a car with a loan, you can consolidate all of your debt to get rid of your loan and sell the car. Our Car Finance section is home to everything from PCP finance and tips for buying a second hand car to cheap personal car loans. Jeep 0% APR car finance deals.

Kia 0% APR car finance deals. Kia is currently running two different types of 0% APR deals. The problem with selling a financed car lies in how secured car loans are organised.

The loan is applied to the car, not the buyer.