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Selling a car with finance on?
TurboTrev:
The owner of the car I was buying got a settlement figure in writing just before I went for the car, I got a bankers draft for that amount. Having paid him the balance in cash, we went to the local post box and posted the finance settlement cheque off with a request for the receipt to be sent to me. That worked for us. :smiley:
Edition30:
Not read the whole thread but chucking my 2p worth in..
I have sold 2 with remaining finance on and just make the buyer aware. One bought the ED30 for 17k cash I then paid this in and then settled the balance...
Sold an Astra which the buyer paid directly to the finance company and the remainder to me...probably the best and most efficient way.
DaveB@Vagbremtechnic:
Or 2 bankers drafts, one for the settlement one for the balance. Simply take a walk around to the post box with a draft and the settlement letter in an envelope and send it to the finance company
Deako:
--- Quote from: NEWEY on June 03, 2010, 12:10:18 pm ---i sold my last car when it was on finance. the bloke gave me the money. i then phoned up and paid the finance off. didnt have any problems :)
--- End quote ---
Exactly how I sold my last one too, the finance was paid off while he was with me. As long as you are up front with the buyer, then as long as they want your car and a genuine buyer then you shouldn't have a problem.
Edition30:
^^I personally wouldn't buy a car like this, although I have had someone do it with me, you never know if they actually will pay it off.
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