|
|
Ian W
|
posted on 5th Nov 08 at 20:55 |
quote:
Originally posted by mobby
no offence to tiger, but this is why people sho0uldnt buy new cars
How do you suggest we have second hand cars to buy if no one buys new :lol:
|
deano87
|
posted on 5th Nov 08 at 20:46 |
quote:
Originally posted by mobby
no offence to tiger, but this is why people sho0uldnt buy new cars
It's not she can't afford to pay the finance, it's because she is getting a company car.
I plan to get a new car this time next year, when I've finished Uni and hopefully got some money behind me working.
1 year after that I might get offered a company car - I probably wouldn't keep mine so would sell it - this is no different.
|
Mobby
|
posted on 5th Nov 08 at 20:45 |
no offence to tiger, but this is why people sho0uldnt buy new cars
|
Ian W
|
posted on 5th Nov 08 at 20:40 |
When I bought my car I paid the finance company and the rest cash.
|
deano87
|
posted on 5th Nov 08 at 20:39 |
quote:
Originally posted by aPk
quote:
Originally posted by deano87
I don't know if this will be any help, but i saw a Fiesta on eBay that had finance outstanding. They said you pay the finance company, not the seller.
However, this is surely win win for the seller, because their finance is paid, which is probably more than the market value of the car.
When you say finance, is it actually finance, or a separate loan?
I would have also thought that if you were up front to the potential buyer, and said you wouldn't send the V5C slip off until you had paid your finance once you'd paid the cash in etc, then there isn't a problem :boggle:
The buyer wouldn't ever pay over market value just because there is outstanding finance.
I'm not saying they would - but if some idiot did, then the seller is win win.
|
Rab
|
posted on 5th Nov 08 at 20:28 |
I just bought my Leon. It had finance left on it.
I paid the finance, and paid him the difference in cash.
We are going to phone the finance company togeather when I pick the car up and pay it via a bank transfer from my account. Then simply hand him the remainder in cash.
Depending on the contact, you cant part with the goods untill the finance is paid (usually) BUT a third party can settle the sum (me)
Hope this helps
Rab
|
AndyKent
|
posted on 5th Nov 08 at 20:27 |
quote:
Originally posted by deano87
I don't know if this will be any help, but i saw a Fiesta on eBay that had finance outstanding. They said you pay the finance company, not the seller.
However, this is surely win win for the seller, because their finance is paid, which is probably more than the market value of the car.
When you say finance, is it actually finance, or a separate loan?
I would have also thought that if you were up front to the potential buyer, and said you wouldn't send the V5C slip off until you had paid your finance once you'd paid the cash in etc, then there isn't a problem :boggle:
The buyer wouldn't ever pay over market value just because there is outstanding finance.
Say £5000 is outstanding and the car is worth £4000 - £4000 goes to the finance company from the buyer whilst the seller is still liable for the remaining £1000. The buyer wouldn't be expected to pay £5000.
|
deano87
|
posted on 5th Nov 08 at 20:23 |
I don't know if this will be any help, but i saw a Fiesta on eBay that had finance outstanding. They said you pay the finance company, not the seller.
However, this is surely win win for the seller, because their finance is paid, which is probably more than the market value of the car.
When you say finance, is it actually finance, or a separate loan?
I would have also thought that if you were up front to the potential buyer, and said you wouldn't send the V5C slip off until you had paid your finance once you'd paid the cash in etc, then there isn't a problem :boggle:
|
ash_corsa
|
posted on 5th Nov 08 at 20:17 |
Its not illegal to sell a car with finance outstanding.
get the person buying the car to pay off the finance amount over the phone with credit/debit card before they drive off in the car.
|
ed
|
posted on 5th Nov 08 at 19:27 |
Explain to the bank you need an overdraft for a few days for it once the sale is confirmed?
|
Tiger
|
posted on 5th Nov 08 at 19:19 |
Ok, so how does this work...
My missus is going to sell her car, she doesnt have the money to pay off the finance out right because its just too much right now until its sold, but she will have a company car and her motor will not get used.
Its illegal to sell a motor with finance outstanding, but how can you do it legally? There must be a way of doing it somehow, some backdoor. She's not trying to get out of doing it right but can't afford to pay the finance THEN sell the car.
Cheers,
Ben.
|
