John G
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Registered: 18th Jul 05
Location: Wirral, Merseyside
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right my girlfriend is selling her car, shes selling it for basically 7k and she stil owes 3k
someone came to look at it tonight an was very interested they are just gonna hpi cheack it before hand, now my gf is worried that they will see its stil got 3k to pay and be put off
i dont see why though cos as soon they have paid for the car my gf is settling the finance with a cheque plus once they have paid outright for the car the car is theres the finance is my gfs problem and she is wel within her right to spend the 7k and keep paying the money payments if she wanted
just cant seem to get this thro to her
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andys sxi
Premium Member
Registered: 19th Jan 06
Location: Chester Drives:Scirocco tdi bluemotion
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it will show up on the hpi its still got finance on i dont think it tells u how much . and really ur not ment to sell a car thats stikll has finance still no even if u do settle it after wards
April 08 feature car
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John G
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Registered: 18th Jul 05
Location: Wirral, Merseyside
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wat happens if you buy a car for 25k then sel 6 months later?? ur bound to have money to pay
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Kano
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Registered: 29th Aug 04
Location: Fife
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The finance is tied to thecar, if they buy it with outstanding finance there on drugs...
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andys sxi
Premium Member
Registered: 19th Jan 06
Location: Chester Drives:Scirocco tdi bluemotion
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yeah but were talkin bout a car 7k not 25k  . should really told them its got finance still on and u will give them a recipt if they buy it and something in writing that u will pay it off when u have the moeny off the car
April 08 feature car
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John G
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Registered: 18th Jul 05
Location: Wirral, Merseyside
User status: Offline
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quote:
Originally posted by Kano
The finance is tied to thecar, if they buy it with outstanding finance there on drugs...
i see where your coming from but with the money she is getting for the car the finance is being settled the next day, she cant just find 3k from no where??
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Wagsta
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Registered: 13th Dec 06
Location: Kingston Upon Hull
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you carnt sell a car on finance. The only way around it is if you tell the person its still on hpi, and they give you the money, you give them the car and just pay it off before you register the new driver/owner. Id come clean and see if you can come to that agreement or one similar
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John G
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Registered: 18th Jul 05
Location: Wirral, Merseyside
User status: Offline
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quote:
Originally posted by andys sxi
yeah but were talkin bout a car 7k not 25k . should really told them its got finance still on and u will give them a recipt if they buy it and something in writing that u will pay it off when u have the moeny off the car
which is what he will do if they want the car, you actually shudnt really have to tell them, if you had a morgage and sum1 came to buy ur house u wudnt tel them how much u stil owe, its a personal matter, obviously it is money owed and it will be settled but its not the 1st thing ud say to sum1 that comes to see your car
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John G
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Registered: 18th Jul 05
Location: Wirral, Merseyside
User status: Offline
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quote:
Originally posted by Wagsta
you carnt sell a car on finance. The only way around it is if you tell the person its still on hpi, and they give you the money, you give them the car and just pay it off before you register the new driver/owner. Id come clean and see if you can come to that agreement or one similar
its not about coming clean as there doin a check for acident damge, were not hidin it owes 3k but it will be sorted within the day once bought, but she needs money for the car to settle it simple as
if it causes to much problems she will just keep the car, just seems a very stoopid way tbh,
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andys sxi
Premium Member
Registered: 19th Jan 06
Location: Chester Drives:Scirocco tdi bluemotion
User status: Offline
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tbh if i owed money on my car i would tell who ever was goin to buy it , it had finance still on b honest cus they will find out anyway.
April 08 feature car
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John G
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Registered: 18th Jul 05
Location: Wirral, Merseyside
User status: Offline
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your not getting the point andy,
we havent lied as the question wasnt brought up, if i was buyin a 18month old car it would a qu i would ask the sellin i askin then 4 times did they have any qu
[Edited on 13-08-2007 by John G]
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Wagsta
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Registered: 13th Dec 06
Location: Kingston Upon Hull
User status: Offline
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the point is...its law......no offence intended but i had this same problem. There is no way arond it, unless you make a deal for them to sign the over the car after finance is cleared
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andys sxi
Premium Member
Registered: 19th Jan 06
Location: Chester Drives:Scirocco tdi bluemotion
User status: Offline
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yeah i am gettin the point. when they do the hpi check on it and c there is finance still on it and u never told them they might think ur not goin to pay it off and leave it to them.so looks like ur hideing it. i would b very careful buyin a car with finance still on it
April 08 feature car
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John
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Registered: 30th Jun 03
User status: Offline
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Get a 2k cheque to the finance company and the rest cash?
Get the money paid into your bank then phone the finance company with the new owner there and get it confirmed?
Get 3k from somewhere for a few hours?
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John G
Member
Registered: 18th Jul 05
Location: Wirral, Merseyside
User status: Offline
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how did u get round it?
seems such an stupid scheme, the debt is with my gf, why shud it follow a car, it doesnt with a house if you have and outstanding morgage once u have sold you house its just outstandting to your name it makes so much more sense that way
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John G
Member
Registered: 18th Jul 05
Location: Wirral, Merseyside
User status: Offline
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quote:
Originally posted by John
Get a 2k cheque to the finance company and the rest cash?
Get the money paid into your bank then phone the finance company with the new owner there and get it confirmed?
Get 3k from somewhere for a few hours?
no way of just finding 3k
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StuartVRS
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Registered: 9th Feb 03
Location: Bromley Common, Greater London
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simple solution, get a written up to date settlement quote, show the buyer, buyer makes cheque payable for that amount and sends it off, then gives you balance of what car is for sale for.
I dont see the problem
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John G
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Registered: 18th Jul 05
Location: Wirral, Merseyside
User status: Offline
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quote:
Originally posted by StuartA3Turbo
simple solution, get a written up to date settlement quote, show the buyer, buyer makes cheque payable for that amount and sends it off, then gives you balance of what car is for sale for.
I dont see the problem
thats fair enough but then you would still have to wait for the cheque to clear before releasing the car
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
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Which you would do anyway?
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StuartVRS
Member
Registered: 9th Feb 03
Location: Bromley Common, Greater London
User status: Offline
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quote:
Originally posted by John G
quote:
Originally posted by StuartA3Turbo
simple solution, get a written up to date settlement quote, show the buyer, buyer makes cheque payable for that amount and sends it off, then gives you balance of what car is for sale for.
I dont see the problem
thats fair enough but then you would still have to wait for the cheque to clear before releasing the car
thats true, but whats a few days for peace of mind for owner and buyer. Easiest way to do it imo.
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Wagsta
Member
Registered: 13th Dec 06
Location: Kingston Upon Hull
User status: Offline
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release the car, just dont sign it over...make sure he has given you the outstanding amount. Jobs a gud un....the way i got around it was saving up and paying the bitch off....never again will i get finance.6k car and finace went up to over 8k....rip off
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StuartVRS
Member
Registered: 9th Feb 03
Location: Bromley Common, Greater London
User status: Offline
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or, call the finance company and explain the car is being sold, buyer could make a payment over the phone providing its not using a credit card.
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John G
Member
Registered: 18th Jul 05
Location: Wirral, Merseyside
User status: Offline
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quote:
Originally posted by StuartA3Turbo
quote:
Originally posted by John G
quote:
Originally posted by StuartA3Turbo
simple solution, get a written up to date settlement quote, show the buyer, buyer makes cheque payable for that amount and sends it off, then gives you balance of what car is for sale for.
I dont see the problem
thats fair enough but then you would still have to wait for the cheque to clear before releasing the car
thats true, but whats a few days for peace of mind for owner and buyer. Easiest way to do it imo.
just depends if they are willing to hand of a cheque of say 3k and have no car as proof
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Wagsta
Member
Registered: 13th Dec 06
Location: Kingston Upon Hull
User status: Offline
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just let them pay you the outstanding amount. then sign car over when finance as cleared...or put the 7k they gave u in bank ring up finance company will new owners there...let them take remaining balance...then sign over car....should be able to clear it same day
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John G
Member
Registered: 18th Jul 05
Location: Wirral, Merseyside
User status: Offline
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im sellin the car not buyin it so they wud have to give me 3k cheque send it off, and arrange for them to come pick up the day the cheque clears coming with the other 4k then id sign the car over??
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