Selling a Car advice please....

daisy1981

Hi,

Some advice please on selling my car I still have 5300 to pay on the finance as Ive never sold a car before when people come round to look and say they want to take the car there and then what do I tell them as I will pay the finance company straight away the 5300 how do I go about doing this...

Im hoping to get 6500 for my car if not more as thats what I have seen a few going for

JQ.

I'm no expert on this, but you need to settle the finance before you can sell it. If I came to buy your car, I would HPi check it and it would show as outstanding finance and there's no way I would give you any of my cash until you had paid off that finance. So to sell it privately I think you'll need to take out a short term loan and then pay it off with the proceeds of the sale.

or you could part-ex the car at a garage and they will settle the finance but you will get alot less money for the car than selling it privately.

jaydeeuk1

Get an egg money credit card usually have high credit limits, and is 0% till june next year. Xfer max limit to your debit account and payoff. Simplest, easiest and cheapest way to do it.

no_more_cards_for_me

Nobody should buy a car unless its HPI clear. You could ask the buyer to make payment to the finance company and they confirm that they no longer have an interest in the car but that's asking a lot from the potential buyer.

rev_henry

You can't just sell your car without speaking to your finance house. Call them and ask them what to do. I've heard another way of doing it is to go to the bank with a buyer and put the remaining finance settlement in the finance house's account there and then. With you both present, all parties know its been done and is good to go.

Hintza

daisy1981 wrote: »

Im hoping to get 6500 for my car if not more as thats what I have seen a few going for

Where? Is that the advertised price or the price they have sold for?

daisy1981

I thought there would be another way as I cant get another credit card one of the reasons Im selling is to free up some of my money i was hoping if i explained to whoever buys they could pay whats outstanding and the rest to me and then i can phone to make sure its been done I know its allot to ask but aslong as ive told whoever buys the car they might be ok with it well thats what im hoping.....ive seen some cars go on ebay ive been watching but i definatly am not going to accept anything less then 6000 for my car

vaio

rev_henry wrote: »

You can't just sell your car without speaking to your finance house. Call them and ask them what to do. I've heard another way of doing it is to go to the bank with a buyer and put the remaining finance settlement in the finance house's account there and then. With you both present, all parties know its been done and is good to go.

That's what I'd do

forgotmyname

Wonder how many people have been scammed by this?

Yes xxx is owed to the finanace company & they give you the number which is fake & they pass on an account number which is also fake.

I would expect people to haggle you down a lot knowing finance is still owed on it.

I think i spend too long online reading about all the different scams around.