Sooty
Banned
Registered: 9th Mar 03
Location: FLAP CENTRAL
User status: Offline
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If a car is on finance, and the owner wants to sell private, is it possible to do this. Its just the car is actually going to get more, being sold private than going back to the dealer.
cheers, rich
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M2RTY
Member
Registered: 25th May 01
User status: Offline
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hummmmmmm u cant sell it as its not yours untill all finance is paid
never buy a car with finance outstanding
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MarkM
Member
Registered: 11th Apr 01
Location: Liverpool
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Yes u can sell it...you then need to clear the finance owed on the car...and whatever is left over is yours...but you can sell unless there is a term or condition in the contract which says u have to keep it for a certain amount of time before u can sell.
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Sooty
Banned
Registered: 9th Mar 03
Location: FLAP CENTRAL
User status: Offline
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Sport16v, thought so, someone else said this to me last night, I need to sell mine you see and get the cash to buy this new beast  ... my dad will be happy to pay for my car though until its paid off for me
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Sooty
Banned
Registered: 9th Mar 03
Location: FLAP CENTRAL
User status: Offline
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ttt
anyone else know if I can sell ?
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Sam
Moderator
Premium Member
Registered: 24th Dec 99
Location: West Midlands
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No you can't sell, you have to pay the finance off first!
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Tim
Site Administrator
Registered: 21st Apr 00
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Well you can still sell your house if you've got a mortgage. Would have thought the loan stays with you and not with the car... it's just a loan at the end of the day. 
Easiest thing to do is just phone the finance company?
[Edited on 16-05-2003 by Tim]
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Sooty
Banned
Registered: 9th Mar 03
Location: FLAP CENTRAL
User status: Offline
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Its just im hearing 2 stories from each side, I am told I can sell it and keep paying vauxhall monthly as normal etc
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Sam
Moderator
Premium Member
Registered: 24th Dec 99
Location: West Midlands
User status: Offline
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quote:
Originally posted by Sooty
Its just im hearing 2 stories from each side, I am told I can sell it and keep paying vauxhall monthly as normal etc
No you can't sell it without paying off the finance first, read the terms and conditions of your finance agreement if you don't believe me! 
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Sam
Moderator
Premium Member
Registered: 24th Dec 99
Location: West Midlands
User status: Offline
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quote:
Originally posted by Tim
Well you can still sell your house if you've got a mortgage. Would have thought the loan stays with you and not with the car... it's just a loan at the end of the day.
Easiest thing to do is just phone the finance company?
[Edited on 16-05-2003 by Tim]
With all due respect Tim, hire purchase agreements are different to mortgages...
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Tim
Site Administrator
Registered: 21st Apr 00
User status: Offline
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Yes I understand this... just throwing in my 2 pence worth to confuse the situation
But I did say to just phone the company if you want an answer (or yes look in the documentation that accompanied it).
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Gary Reece
Member
Registered: 7th Jan 01
Location: North Wales
User status: Offline
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just phone the finance company for a definite answer, they're usually quite helpful, and tell ya where u stand
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M4tt
Member
Registered: 18th Apr 03
Location: Potters Bar
User status: Offline
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you deffo can't sell it and continue paying the mounthly installments because a if yoy were suddenly to stop paying a few months down the line the finance company has every right to take the car back.
that means the ppl you sold the car to will be carless and u would be up shit street.
But i think you can sell and immediately clear the finance once the funds for the car are through, as long as the buyer is happy with that arrangement.
You would probably have to prove the car no longer has outstanding finance to the buyer too. Otherwise the buyer is stupid 
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Gambit
Member
Registered: 5th Jun 00
Location: Common Sense HQ
User status: Offline
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this may sound a bit simple but why dont you ring your finance people and ask them?
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Kerry
Member
Registered: 5th Oct 01
Location: Norwich
User status: Offline
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yes there is hire purchase and finance
hire purchases u cannot sell they belong to the company
finance u can but u are stil responsible for the payments and have to inform them u no longer have the car as the amount outstanding is secured on it
i personally would never buy a car that is financed as u are in danger or loosing it
u can also move ure finance to the new car if u are buyin from a dealer again
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Claire
Member
Registered: 19th Jan 03
Location: The Sarrrf
User status: Offline
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u have to settle any agreements before selling. If you dont have the money to settle it, finance companies will usually lend so much above and beyond the price of your new casr to cover the negative equity in your old one. So say you owed £2000 but your car was only worth £1500, you can usually add the £500 onto the finance agreement of your next car. Not the best thing to do as you'll get stuck if u keep doing it but it's useful as a last resort.
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MarkM
Member
Registered: 11th Apr 01
Location: Liverpool
User status: Offline
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you deffo cant sell it then keep paying the repayments as isnt this the same as oustanding HPI thingy...but you can sell aslong as you clear the finance still owed....as its in effect a loan which is secured on the car.
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Gambit
Member
Registered: 5th Jun 00
Location: Common Sense HQ
User status: Offline
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JUST FUKIN RING THEM!!!! POSTS LIKE THIS DO MY HEAD IN!!!
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Kerry
Member
Registered: 5th Oct 01
Location: Norwich
User status: Offline
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thats wot i mean 
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Sam
Moderator
Premium Member
Registered: 24th Dec 99
Location: West Midlands
User status: Offline
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Tim
Site Administrator
Registered: 21st Apr 00
User status: Offline
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Sooty
Banned
Registered: 9th Mar 03
Location: FLAP CENTRAL
User status: Offline
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I am, but there is nothing which says the vehicle cannot be sold
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MarkM
Member
Registered: 11th Apr 01
Location: Liverpool
User status: Offline
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Sell it then!!!!
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Sooty
Banned
Registered: 9th Mar 03
Location: FLAP CENTRAL
User status: Offline
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lol, it aint even other ppls car and they are getting mad
ok heres another one:
I need to hand my docs in today, but ive lost MoT cert, whda doo ?
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MarkM
Member
Registered: 11th Apr 01
Location: Liverpool
User status: Offline
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docs to where?
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