Car loan

Is it better to clear car finance before selling on any car, motorway etc 

Comments

  • Your car has to be clear of any finance on it before they will pay you for the it.

    Have you tried local dealers to see what they will offer you for it?
    You might be surprised.
  • MorningcoffeeIV
    MorningcoffeeIV Posts: 1,920
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    edited 11 October 2023 at 12:17PM
    Your car has to be clear of any finance on it before they will pay you for the it.


    That may be true of some, but not the ones the OP has mentioned.

    They will settle the finance.
  • Your car has to be clear of any finance on it before they will pay you for the it.


    That may be true of some, but not the ones the OP has mentioned.

    They will settle the finance.
    Sorry that was what I meant.
  • dealers will buy cars through motorway, the settle finance instantly upon collection, friend of mine did this couple of weeks ago with no issues
  • I think my question is very much will I get more for the car with these companies if finance settled, thank you?
  • DNC23 said:
    I think my question is very much will I get more for the car with these companies if finance settled, thank you?
    No you will get what they think the car is worth to them, obviously there has to be equity in the vehicle - i.e. you have to owe less than the car is worth.
  • Herzlos
    Herzlos Posts: 14,620
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    The cars value will be the same, so they'll only pay £x for it. If you owe any finance they'll pay off the finance and give you the difference.
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