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Selling a Car currently on finance..
In March 2008 I took out a PCP contract with GMAC to purchase a brand new 2008 Vauxhall Corsa Breeze.
As I am over 2/3rds of the way through the contract I have been advised that to end the contract early, I can just handover the car and walk away. However I have also been looking into paying off the finance outstanding and selling the car privately as I could stand to make a decent profit.
The warranty is due to expire in March 2011, so when I look to sell there should be about a year left. Am I correct in thinking that the warranty follows the car, rather than the finance? Obviously this will be attractive to any potential buyers! Could anyone explain how this would work?
As I am over 2/3rds of the way through the contract I have been advised that to end the contract early, I can just handover the car and walk away. However I have also been looking into paying off the finance outstanding and selling the car privately as I could stand to make a decent profit.
The warranty is due to expire in March 2011, so when I look to sell there should be about a year left. Am I correct in thinking that the warranty follows the car, rather than the finance? Obviously this will be attractive to any potential buyers! Could anyone explain how this would work?
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Comments
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Am I correct in thinking that the warranty follows the car, rather than the finance? Obviously this will be attractive to any potential buyers! Could anyone explain how this would work?
Yes, as long as the car has been serviced in line with the makers guidelines.
The new owner will probably need to register their ownership with Vauxhall.0
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