Car on ebay outstanding Finance

scriblesvurt

Hellow,

I have listed my Pug 206 on ebay. I got it on a passport finance deal and can hand it back in a few months and owe nothing. I do belive that it is worth a lot more than what is outstanding on it. If I sell it on ebay, how would I deal with the payment from the new buyer? Would then pay the outstanding debt and the balance to me? Not sure how it would work.

Any help MUCH apreciated

standupguy

The best way is to get a settlement figure from the Finance company.

At point of sale show the buyer the settlement quote and get them to settle direct with the Finance company and pay you the balance.

you will need to check that both sets of funds have cleared before you release the car.

This way the car buyer knows the finance has been settled as he was the one to settle it.

scriblesvurt

Yes, I thought this would be the case. I can then call the finance company and get confirmation that it has been settled.
Thanks very much.

lauren_1

I would be wary though, what you think it's worth and what it's actually worth may very greatly.

System

you can not sell a car you dont actually own as there is an outstanding balance.

Conor_3

IT IS NOT YOUR CAR TO SELL. Any HPI check a prospective buyer does, and more are now it can be done for £3, will list it as on finance. But hey, there's always a mug out there stupid enough to bid on it.