Selling a part-financed car

[irvind]

Any tips? Best to clear the finance first before advertising it, or wait and see if there's any interest? The dealer is being particularly miserly so I'd prefer to try to sell it privately.

[spink]

clear the finance,its just more hassle for the buyer i would say.

[sheppardnias]

You need to clear the finance. For a car of any value a buyer is likely to want to get an HPI check done and anything showing up is likely to make them either run or beat the heck out of your price.

[iain1067]

Best to clear the finance yourself, don't let a private punter settle it for you, a dealer is ok especially a main dealer.

[Big Lee M]

I thought it was against the law to sell a car if there is finance still outstanding on it??????

[irvind]

I thought it was against the law to sell a car if there is finance still outstanding on it??????

It's not against the law, I think (at least in certain circumstances) the new owner can agree to take on the finance, but obviously there would need to be a high level of trust between the two parties!

Anyway, that's not what I'm considering. At the very worst I'd advertise the car, gauge interest, and if someone wanted to do a deal I'd clear the finance at that point.

The better scenario is to clear the finance outright first, then advertise the car, but the downside to this is if it doesn't sell and I'm left with thousands of pounds on a credit card which is already straining from an S2 purchase....

Hence my original question.

[irvind]

I forgot to add that the dealer are having a right old laugh, offering me less than 3 quarters of what I paid for it in January....