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+--- Thread: Selling a car on finance? (/showthread.php?tid=5337)
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Selling a car on finance? - Carpediem - 01-07-2018
How do you work this???................
Naturally I ahve to make back the settlement figure which is £9.9k
not sure my car is worth exactly that, but taking a punt on it
If someone does buy it, do i just get them to ring lexus finance and make the payment, then hand over the V5 as in any other car sale, forwarding a copy of the finance completion letter on after ive received it?
Selling a car on finance? - parthiban - 01-07-2018
I think it would work quite similar to that, only problem might be getting someone interested in a car that has outstanding finance on it. Have you asked how much it would cost you if you gave the car back now? Or could you get a loan to settle the finance and then sell privately with no finance outstanding?
Selling a car on finance? - deckie77 - 01-07-2018
parthiban Or could you get a loan to settle the finance and then sell privately with no finance outstanding?
That's the way to go if you can get a Variable loan from the bank or similar, pay off lexus finance Then pay back loan, you will incurr a fee of course but normally minimal, and if you get it sold within a month, you wont have lost much in the way of interest.
Can put buyers off selling with outstanding finance.
Selling a car on finance? - Carpediem - 01-07-2018
Have stated on the advert it is financed but all settlement paperwork would be provided and the payment would be direct to lexus via phone, thus settling the agreement there and then.
cant be bothered with another loan lol
yeah cost to give back now is £9,848
Selling a car on finance? - parthiban - 01-07-2018
Carpediem yeah cost to give back now is £9,848
I'm guessing that's the price to buy the car outright and settle the finance isn't it? I meant how much would you have to pay on top if you simply returned the car to them?
Selling a car on finance? - Carpediem - 01-07-2018
erm, £3k???
Selling a car on finance? - parthiban - 01-07-2018
Carpediem erm, £3k???
That's bigger than I thought it would be, so as far as they're concerned the car is only worth £7k?
Hope you get it sold without too much hassle
Selling a car on finance? - Carpediem - 01-07-2018
erm they have valued the car at around £6k,................lol
Selling a car on finance? - TimmyK - 01-07-2018
I was told by Honda Finance that you can sell a car with outstanding finance however the finance must be settled no later than after 7 days of new owner taking ownership.
Selling a car on finance? - Carpediem - 01-07-2018
that seems cool lol