Can I sell my car if it's still got finance? ?

(2011-03-02 15:30:16)

1. Laura White Says: Wanting to sell my car because it's costing me a fortune every month but can I sell it and then with the money I have sold my car pay off the finance??

2. Timbo is here Says: Not quite - anyone buying it will if they have any sense check to see if there is outstanding finance. A garage with a trade in will always do this.
A private buyer with any sense will insist that payment is split between you and the finance company when you sell it so that they know it is fully paid off - this could mean them paying the finance company direct with your cooperation of course and then any money left over comes to you.

Get a "settlement figure" from your finance company and se if the car is at least worth more than what is left to pay as often at times during the period of the loan it is not.

What you cannot legally do and as I have said any sensible buyer will prevent is to take the money yourself and then you pay the finance as the buyer has no guarantee you will do so and until paid off the car is not yours to sell or theirs to buy.

3. Jan409 Says: Firstly, you can't sell a car that you don't own
The finance company owns it, not you
What you need to do is contact the finance company and ask them what your options are

4. Hawkeye85 Says: You will have to declare it to the seller that it is still under finance and also it all depends on the finance company.

5. B W G Says: the car belongs to the finance company and when you go to sell it a HPI check will show finance outstanding anyway. unless some poor idiot doesn`t do one .

6. luminous Says: you need the title to sell, have someone take over payments and put it in their name if the fiance company allows this