Just need to know what to do?

Can i pay off remaining balance with a credit card? Then pay off credit card with the sale of the car?

Or do i try sell the car with finance and pay finance off when i sell the car

Just need to know whats the best plan of action

Thanks

There's no way I'd buy a car with outstanding finance no matter what a seller told me

Yes thats the thing i wouldnt either

Lets hope the finance company accepts credit card.

Correct me if I am wrong, but you do not own the car until you pay off the finance. Hence you cannot sell something you do not own. ( you cannot pass legal title in the goods to someone else).

I seem to recall this may be actually criminal.

I am sure someone will correct me if I am wrong.

No what im saying i find a buyer and the balance gets paid off there and then.

Probably going to try pay it on a credit card or borrow some cash for a few days until i can pay it back

As suggested, you need to settle the finance before you sell. Speak to your finance company - they would rather help you that try to sort a problem later.

Going to be a bit of time between paying the finance company and the car being officially cleared for HPI checks etc. I had problems with a car that still had dealer finance attached to it somehow 4yr after I got it, the 24hr loan the dealer used to by it from the manufacturer had never cleared properly.

My suggestion would be to get a credit card with a 0% intro period. The finance company will probably charge you 1-3% to clear using that method so at least you can offset that for a little while and get the ball rolling.

The alternative it to take out a personal loan to clear the car then repay it asap. Again there will be charges but it might be cheaper than the cc.

As said the car is owned by the finance company until it's cleared and you'd be committing fraud by selling it.

As long as the buyer is aware and no money changes hands until the finance is paid off I don't see a problem. Some buyers opt to clear the finance themselves and pay the seller the difference.

No what im saying i find a buyer and the balance gets paid off there and then.

Probably going to try pay it on a credit card or borrow some cash for a few days until i can pay it back

Yes. The point I am making is that YOU must pay off the finance debt ( whatever means suits the finance company) BEFORE you can sell the car.

Regards,

Kev

I sold my last Octavia whilst it still had finance on it. But having got a settlement figure, the buyer paid it off direct to VW finance.

That way, they knew it had been paid off and I couldn't pocket the cash and head for the Caribbean!

I sold my last Octavia whilst it still had finance on it. But having got a settlement figure, the buyer paid it off direct to VW finance.

That way, they knew it had been paid off and I couldn't pocket the cash and head for the Caribbean!

A practical solution and often the way dealers do this, but ultimately you are responsible for settling - what if the buyer had pocketed the csh and gone to the Caribbean

A practical solution and often the way dealers do this, but ultimately you are responsible for settling - what if the buyer had pocketed the csh and gone to the Caribbean

Then I still had the car! I checked with VW finance before handing over the keys and they confirmed by email.