Advice needed, can I sell my car with finance on?

mountainofdebt

Just another thought (and I don't work for Peugeot honestly!) but would their just add fuel offer be another thing to consider?

mountainofdebt

motorguy wrote: »

Are you seriously recommending that this guy gets into even more debt??

No what I'm saying is that if he needed a car then dealers do know of finance companies that may consider people with less than squeaky credit ratings so its not all doom and gloom.

Obviously the OP has to consider all options and choose the one that is suitable for him and that he is comfortable with.

jax183

Thanks for everyone's replies. I have been thinking about this again and I think I am going to try and sell the car, pay the finance off and cut my losses. At the moment I am thinking I dont want another car on finance, as I feel I would be going straight back to square one again, and I don't want to be in the position where I have no flexibility because I have entered into another 3 year agreement.

I am paying around £280 each month for the car so by getting rid of it I can put this towards saving some money and paying more off my DMP.

Chopper_Read

Are you going to tell us the model of car and whether it will actually give you and equity back?

keith1950

Hi, the normal way to sell a car with finance on is to find a dealer who is prepared to buy the car , he will then pay off the finance direct to the finance company and give you the balance that's left.

However if your not buying from him at the same time expect him to give you around £2000 less than the market value of the car.

Otherwise find such a dealer who will pay off the finance direct to the finance company and will also provide you with a cheap runabout car instead of giving you the outstanding balance.

You will encounter problems if you just try to sell the car yourself as it will be showing with outstanding finance when HPI type checks are carried out.