Can anyone offer advice on how I sell a car privately if it has finance outstanding? Does this put off buyers?

 

17 views not one reply? Someone please offer some advice

 

You can ask the buyer to pay the finance balance to the finance company directly, then pay you the rest to the amount you want for the car. Obviously the finance remaining on the car has to be less than the amout the car is now worth.



[Edited by DreXeL - 10/30/2003 12:17:46 PM]

 

If its finance then they usually require it to be settled before you sell, although a Dealer can do this for you if you trade up, or sell him the car (though its still your responsibility to see its completed).
If its a bank loan then the loan is to you personally and its not hire purchase, so you can go ahead without telling any one.
Ways round it if you want to sell privately, only one I'm aware of that get a Bank loan for the outstanding amount and pay it off.
Hope this helps, or does any one else know any more?
Whatever call the Finance Co and talk to them for clarification.
STEVE....................

 

Or convert your finance to a personal loan and carry on paying that