Is it possible to sell a car that has finance left to pay on. Would I be best going to the dealer I bought it from?

I have a teeny renault twingo and mrsoath is now pregnant. Makes more sense to replace my car as hers is full paid off, and with impending maternity leave I don’t want to have to pay off two cars. Aargh. So would be greatful of any advice from the hive.

I don’t think you can, many years ago I still owed about 3k on a car, took a bank loan for the 3k, paid the car off, sold it for 4 something, paid off the loan and pocketed the difference.

edit: assuming its financed through the dealership and not just a general bank loan.

yes you can… just done this on a 2 year old fiesta.

Need to clear the finance if you sell privately. If you go back to the dealer they’ll just transfer the debt to the next car, careful you don’t end up with a whoppa balloon payment at the end of the term though

We buy any car buy cars with finance owed on them. Probably not an incredible price but they sort out the outstanding finance and everything.

Yeah financed through dealer.

@starsh78 – did the dealer sort out the details or was it a PITA?

Depending on what the car is worth nd how much you owe, you can just hand the car back o the finance company and walk away.

For example if you think the car is Roth £3k but you still have £3500 to. Pay then walk away. You can usually do this at pre determined periods in the finance.

If you sell it/px at a dealers they will settle the finance and give you the difference. You can’t sell it privately as the finance company still have a claim on it.

Depending on what the car is worth nd how much you owe, you can just hand the car back o the finance company and walk away.

Yes done this before, finance company got a bit arsey about it. Until I pointed out it was in their T&C’s.

They sent round a man to inspect car, the form said that it had to be inspected from 1.5 metre distance away. When the man had finished leaning over the the car to inspect it jotting down all the stone chips and minor scuffs. He advised that there would be a £200 fee to cover the faults found. I told him that the inspection was null and void as they hadn’t followed their T&C’s regarding the inspection. I had photo’s to prove him leaning over and rubbing at marks on the car. 😀

After a call to the finance company they waived the £200 fee. 😉

If you’ve paid 2/3 and its on HP you can just give it back, get no cash though.

Best way is to sell it privately, but the outstanding will show on a HPI check.

If its a car loan you can hand it back half way through the hp period.

Alternatively, be upfront when selling and request that the purchaser clear the hp and pay you the balance.

I sold ours privately, I actually got the new owner to pay off the finance, for peace of mind and she gave us the difference in cash. it was though ford motor finance < or whatever its called but it was simple.