We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Wanting to sell my Car whilst it's still on Finance
Options
Comments
-
christof94 wrote: »
The Car cost £8000 I paid £2000 upfront and then traded in my older car for £900 to bring the cost to £5100.
I chose to finance this over for £150 a month over 3 years costing £5400 overall.
that is only 3.8% APR - is there a balloon payment due at the end as well?0 -
Personally I wouldn't buy a car that had outstanding finance secured on it - of course, if the finance was via a personal loan and not secured on the car that that is a different matter.
I'd definitely be cautious, and wouuld want a bit of a discount to make it worth the effort. There's no need to risk someone else having a claim on the car if there's a similar one advertised down teh road, at a simiar price, finance free.0 -
I'd definitely be cautious, and wouuld want a bit of a discount to make it worth the effort. There's no need to risk someone else having a claim on the car if there's a similar one advertised down teh road, at a simiar price, finance free.
I would be more worried about buying a car HPI clear but with a logbook loan secured on it that you only find out about when you receive letters from the lender.
The only additional effort is a phone call to the finance company and receiving confirmation email that the finance is clear. You wouldn't have to take much cash with you to buy it as the majority of the money would be paid over the phone."Dream World" by The B Sharps....describes a lot of the posts in the Loans and Mortgage sections !!!0 -
-
19lottie82 wrote: »utter nonsense, sorry.
sorry disagree as I tried to sell a car with 9k milleage , showroom condition and people didnt have the cashDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0 -
Surely it depends what the car is, as to whether people will buy it. There is a huge market of cash buyers for second hand cars - cash could mean personal loan for instance or cash transfer on a credit card at low rate. Cash sale does not mean no finance - it just means the seller is unaware of the finance.
Small cars cheap to repair such as fiestas appeal to families wanting a second car runabout, they appeal to people who gave just passed their rest as low group insurance. It will sell at the right price.0 -
sorry disagree as I tried to sell a car with 9k milleage , showroom condition and people didnt have the cash
Perhaps it was not everyone's choice - I wouldn't buy a skoda, or a fiat panda, or a Volvo, or a Mazda 2, or a Kia etc regardless of whether it was well priced and showroom condition - the cash is unrelated - just not my choice of car!
What was it by the way?0 -
308cc sportDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
-
-
cleverinvestor wrote: »Well thats your problem. Thats why nobody wanted it.
Someone will want it, not just at the price that the poster considers the car to be worth.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards