How easy is it to sell a car on finance?
If you have car finance, it is easy to sell your car to us. All we need is a final settlement figure from your finance company. We will pay any outstanding finance so you have the funds available for a new vehicle.
If you intend to sell the car privately, you need to settle outstanding finance first. Failure to do so could get you in trouble with the law.
Can you legally sell a car on finance?
You cannot legally sell a car with outstanding finance as the car is under an existing leasing agreement and in the eyes of the law, belongs to the finance company, not you.
You are not the legal owner until the outstanding finance has been paid off. If you want to sell the car, settle the finance agreement to end the deal. To do this, you will need the final settlement figure from the finance company.
It is not legal to sell a car, and then pay off the finance. At the time of the sale, the car was legally owned by the finance company, not you.
Can you sell a car with a hire purchase agreement?
The same rule applies to a hire purchase (HP) agreement. The finance company is the car's legal owner, so to sell your car with outstanding hire purchase is illegal.