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Selling a car with finance on?

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JPC:
Hi guys, bit of a noob question, how do I go about selling my car with finance on it?

I will obviously be paying off the finance with the cash from the sale but how do I go about it?

Do I take a cheque for the sale price of the car, wait for it to clear then pay off the finance? What happens when a potential customer sees there is still finance owed on the hpi?

I assume this goes on all the time right?

182_blue:
Basically the car is not yours to sell, so you cant sell it with finance still owing on it, the best thing to do is to get the buyer to settle the finance, as a buyer though this sort of hassle would put me off

I am assuming the car was bought on HP, and its not a personal loan

JPC:
Awesome! Not! Right so really I need to take two cheques from a buyer, if they're willing. Wait for lombard to give the green light then the car can go?

joesgti:
or just trade it in and get the garage to pay off the finance?

JPC:

--- Quote from: joesgti on June 03, 2010, 09:19:14 am ---or just trade it in and get the garage to pay off the finance?

--- End quote ---

I'd be missing out on about 2.5k if I did that!

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