Car Finance - Black Horse - Can I sell - Are there any options?

somethingcorporate

burlington6 wrote: »

What a moron

+1.

Just totally wretched and incorrect advice.

Edi81

even if you have a personal loan it may still come up on a HPI check. When i worked at Blackhorse many years ago the loans were still logged.

If you go down the private sale route the HPI check will cause issues for a future buyer as hey need to make sure that all finance is cleared from the vehicle.

You need to find out what type of agreement you have - surprised you can't tell from your online account.

MataNui

A dealer may be better placed to take it off you. If you go down that route though be prepared for a very big shortfall.

Mr.J_2

Thank you for all your comments, apologies in the delayed reply but I have been away.

Looking at the agreement, it is a HP agreement which means the funds are secured on the car - I was in BMW recently and we got a settlement figure of £20k, BMW have offered me £18500 on trade in IF I was to buy another car through them. Honestly, I would just like to get rid of the agreement on a whole and not take out another.

Am I able to Voluntary Terminate the agreement? What would happen? Would they send the car to auction and then just ask me for what is left of the early settlement figure? Could I pay this over say 3 months. As it stands, If I was to get £18500 for the car, it would only have £1500 outstanding on the finance settlement figure?!

Can any of you provide some advice, I really appreciate your help