Can U Sell A Car With Outstanding Finance

Regardless of the reason you need to sell your car we will buy it at a fair price. Selling a car with outstanding finance to we want any car is simple.

How To Sell A Car That You Owe Money On

You cannot sell a car with outstanding hire purchase hp finance as the lender is the legal owner of the car until the finance is settled.

Can u sell a car with outstanding finance. Ask your lender for a payoff amount which will tell you exactly how much they need to release the lien on your vehicle. No you cant as the lender is the legal owner of the car until the finance is settled. Its illegal to sell a car that still has oustanding finance on it.

A few steps that can be taken to accomplish this type of transaction include having lien released selling the vehicle and paying the loan out of the sales proceeds or transferring the loan balance to a third party. A car that has been bought via a hire purchase cannot be sold with outstanding finance. But there are ways around this.

Can i sell a car with outstanding hire purchase hp finance. There is a database that will tell a dealer if your car has leftover finance on it so it is unlikely that they wouldnt check this first. It is your responsibility as a seller to repay the finance and to act in accordance with the law and ignorance is no excuse in these circumstances.

Hundreds of our customers come to us with questions about selling their car on finance and actually its an easier process than you may think. If youve paid off less than half of the agreements total cost you can return the car. In order to sell the car youll have to end the hire purchase agreement early.

If a car is bought on credit before it can be sold the finance company must be contacted and theyll provide a settlement figure which is the cost to pay everything off. Can i part exchange my car with outstanding finance. Until the car has been fully paid for the lender is still the legal owner therefore you dont have any rights to sell the car.

Remember it is illegal to sell someone a car with outstanding finance on it without telling them about it first. To sell a car with outstanding hp finance youll have to end your hire purchase agreement early. It is possible for the vehicle to be sold with an outstanding loan.

You must contact the finance company for the settlement figure and pay this along with any fees and administration charges before part exchanging. Technically you probably wont sell your car with the loan outstanding. Instead youll most likely unwind the loan at the same time as or ideally before you sell the car.

Lien release a seller with an outstanding loan balance can look to have the lien and any associated debt obligation released. The same principles apply as when youre selling a car with outstanding finance. If you sell an automobile with outstanding finance on it without informing the buyer of the situation it is likely that the finance company will track them down to repossess it.

This must be paid in full along with any early repayment fees before the car can be sold.

Can I Sell A Car With Outstanding Finance Confused Com