So my other half owns a 61 plates fiesta

We have 1 child and magically another one is on the way :) she is looking at selling her 3dr for something a little bit bigger.

The issue is she has outstanding finance on the car which she plans on paying off with some of the money she gets for the car ...

Is she ok to do that as long as the person who buys it is aware ??

Will people buy car with finance ? And where is best to advertise it ??

Thanks

You might find most buyers will want finance cleared before they will buy, maybe a dealer, will sort finance on a deal for another car.

^^ + 1 ^^ I'd definitely want the outstanding finance sorted before I would buy any car.

Best off dealing with a dealer

Great stuff ...

Thanks all [emoji38]

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If I was to buy a car privately, I would ask how much is outstanding, then I would call the finance company with the person there, and I would pay the outstanding balance over the phone, and then pay them the difference.

so if its a 6k car, with 3k outstanding, I would make sure I have the paperwork in front of me, and the keys in my hand (they wont be doing any runners!) and I would call and get them to do security, and pay off the 3k and then 3k to the person.

That way if its the only real car I have my eye on, its finance cleared and they confirm it to me at purchase, in which case I am covered, and the other person is happy and gets the money in their pocket they want.

If I was to buy a car privately, I would ask how much is outstanding, then I would call the finance company with the person there, and I would pay the outstanding balance over the phone, and then pay them the difference.

so if its a 6k car, with 3k outstanding, I would make sure I have the paperwork in front of me, and the keys in my hand (they wont be doing any runners!) and I would call and get them to do security, and pay off the 3k and then 3k to the person.

That way if its the only real car I have my eye on, its finance cleared and they confirm it to me at purchase, in which case I am covered, and the other person is happy and gets the money in their pocket they want.

I was hoping I could do something like that as I'm aware there around 1k left ..

I just wanted to make sure it could be done and that it was safe.

Thanks

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It could certainly be done. I would say make a deal with them and say you would knock an extra chunk off the car.

Sticking with 6 as a number, if you sold it privately to someone who trusted you (and trust is rare these days) then you would get 6k, pay off 1 and you have 5 in your pocket.

Stick it in part ex, you will get 4, maybe 4.5 if your lucky.

Do it the way I describe above, state to anyone who asks if there is balance outstanding, and say if you want, you can settle 1k there, and I will discount the price by a few hundred quid.

Your still going to end up with more in your pocket than a part ex!

You have nothing to lose by trying it, and as long as it doesnt take 9 months to get shot, I would do it that way.

Alternatively, beg the family, make a settlement offer on the car, they might accept say 800 for an early settlement, then just pay people back when its sold.

Use savings to pay it off and replace saving when car sold or even stick on a credit card and pay back after