How to sell a car on finance

How do you sell a financed car? Can I sell a car with outstanding PCP finance? How long does it take to sell a car with a finance company? To sell a car with outstanding HP finance, you’ll have to end your hire purchase agreement early.

To do this, you’ll need to contact your finance company and ask them for a settlement figure.

Once you receive your settlement figure, you’ll have a set period of time to pay it off. Once you’ve paid it all off, the cars will be yours to sell. Before you sell a car with outstanding finance you will need to settle any remaining money owed with your finance company.

If you are keen to sell your car before your finance agreement ends, you can opt for a ‘voluntary termination ’. This will allow you to give the car back to the finance company and not make any additional payments. If, however, you want to sell up and get a different vehicle, then you have two options.

First, you can settle up by contacting your finance provider and requesting a settlement valuation. If you have the money available, then once you’ve paid the settlement value, the car is yours to do with what you will, and sell however you want.

I suggest that you ring the fin. HPI to see if the car is on finance. It is possible through some finance companies. You would have to check with them to make sure yours allows it.

The buyer generally needs to have good credit (similiar to yours when purchased) to take over and put it in their name. Also, you can settle up early and sell the car.

You’ll first need to write to the finance company to provide a settlement figure. You can then pay the outstanding amount and the car is yours to sell. After that, you’ll have a set period to pay it off.

The law stipulates that it is illegal to knowingly sell a vehicle before the car’s finance has been paid off. Hire Purchase (HP ) If you have a car on hire purchase (HP) finance, the lender remains the owner until the finance is settled or all payments have been made.

Once you have obtained the settlement figure and paid it off, within a set period of time, the car will be yours to sell. Selling a car to a dealership with outstanding finance Virtually all dealers have the facility to buy your car from you with outstanding finance. The dealer will run a car check before buying the car from you and obtain the details of the finance company whom the money is owed to. We Buy Cars with Outstanding Finance 1. Contact your lender.

You will need to contact your lender and advise them you are considering the sale of your.

Book an Appointment. If you are selling a car with finance still outstanding there are two things you must do before you can legally sell it: Inform the finance company and ask them for the “settlement figure” they’ll need from you to pay off your loan in full. Discover The MG ZS EV, Powered By A 44.

Available To Test Drive Today. Then you can find a buyer and use the lender to pass the title to them. Sell a Car with Outstanding Finance. When it’s time to sell your car, you want the process to be smooth and stress-free.

Especially if there is a certain amount outstanding in terms of finance, since the car actually still belongs to the finance company. Selling a PCP car at the right time.

This is true, especially, when you sell privately. Whether selling your PCP car makes sense or not will depend on how much you still owe on your finance agreement (including the optional final payment), and the current value of your car. Unless you put down a large deposit, this is likely to mean that you owe far more than the car is worth in the early stages of the finance agreement. Get a free online valuation in under seconds.

If you own your car, you can sell your car to webuyanycar. If you have outstanding finance and have already obtained a settlement quote, you can still sell your car but the payment will need to be made to the finance company as they’re the legal. Then your car needs valuing which is super simple with our Sell Your Car tool. Next, time for a tiny bit of maths, subtract the settlement.

Before selling a hire purchase vehicle, you must first advise the finance company and request the settlement figure required to repay the loan in full. You must then pay this settlement figure, plus any additional fees, for example early repayment fees and administration fees. Until this is done it does not belong to you.

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. As soon as you’ve been paid for the car, you need to complete the following essential paperwork: Write a receipt and make two copies – one for you and one for your buyer. It should include the date, price, registration number, make and model, plus you and your buyer’s names and addresses.

Complete and sends the V5C to the DVLA. On some adverts on Auto Trader, the finance information is provided by the dealer selling the car or lease provider.

Where a dealer doesn’t advertise finance on Auto Trader, we use information and a finance example from our partner, Zuto. We do this so that no matter who is selling the car, you have the option to look at a monthly finance option.