Selling a car i still owe finance on?

forgotmyname

I thought i looked at everything from the dark side.

Seems like selling a car this car is a potential loser on both sides.

Seller could get the buyer to pay the finance then drive off and sell the car again..
Buyer could send a cheque or recall the payment after paying for the car.

Anyway. Lots of buyers wont want to mess with a car on finance, Cheap text checks may not show the correct data. NEVER trust them. DFo a proper HPI with a guarantee.

Will part exchanging it really lose that much money compare to the hassle of a private sale?
The figures may not look too bad in the end. Depends how the dealer values it i guess, And what your buying.

arcon5

Notmyrealname wrote: »

No it isn't. Its a phone call and either posting off a cheque or shuffling money about in accounts so there's enough to pay it by card over the phone and then waiting until they get written confirmation from the finance company that the loan has been cleared.

What it is not is going to view the car, handing over the money and driving away.

So buyer puts money in main account with debit card, pays finance company over the phone. Done. Not sure why there would be much more 'money shuffling' for finance deals than otherwise.

Clearly you overlooked pretty much all the advice in this thread!!

Looksguywalker wrote: »

So buyer clears finance by phone. What's to stop the seller then not handing the car over?

If finance wasn't involved, what's stopping a seller taking the cash and not handing over the car? What stopping the buyer taking the car and not handing over the cash?

This has nothing to do with a car having Finance.