Car HP. Getting out after a year?

ashley79

NeverEnough wrote: »

Two years ago, I did just this - part exchanged my car, which still had outstanding HP, via a main dealer who offered me £11K for the car, which had £9K outstanding on it - I accepted and had the dealership add the £2K to my deposit on the new car I bought. So it is absolutely possible to sell / part ex a car on which finance is outstanding and you are not necessarily ripped off by the dealer buying the car, if you are part exing via a dealer. Main dealerships are less likely to vmess about with settling the finance, but it would be possible to do it privately if the HP company consent or via a small dealer as well.

I have traded in several vehicles with outstanding HP over the years and either done a settlement deal with the new dealer or ended up with a few thousand pounds owing to me, which I have put against the new car purchase, reducing it quite substantially.

Maybe on the weekend I will go in to a garage and explain all tell them how much it is worth (according to autotrader) and see what they say. I dont have to let it go. Im a salesman myself so am no pushover. Im in no rush either just need to know it is possible if I need to do so.

I could ofset any extra money say 2k they give me to put on a bigger family car.

Thanks everyone. interesting to know there are a few options.