Im currently selling my mk4 ibiza cupra because im interested in getting a mk5, but im not getting as much interest as i thought. Its a low mileage and great condition. Highest ebay bid ive got was 3grand which is way off. I have stated that i have finance outstanding which will be cleard before buyer drives away. Im wondering you opinions on this, would this put you off buying? i dont know if its that or the fact im based in glasgow, these cars dont seem to be in demamd as much as down south. Cheers.
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Buying a car with outstanding finance? cant sell my car.
- Thread starter cb1992
- Start date
It would put me off mate, I wouldn't part with any cash for your car until I had seen evidence it was free of finance. Ultimately if I buy your car then you don't pay off the outstanding debt, the debt stays with the car . So I either pay the debt, or the finance company could seize the car.
Tbh mate it would personally put me off because it just seems like an extra hassle for the buyer to think about when showing interest in your car. Ive never bought or sold a car with finance outstanding so Im not sure how everything is done.... But yeah it sounds like thats your problem more so than the fact youre in scotland.
Yes but we would only have your word that it was paid. I would want a HPI check to say it's clear.
Its really not any hassle at all, if anything its safer, the settlement figure will go to the finance company can be done via phone or at bank, and then the rest of the sum is gave to me directly say a 1000pound for talking sake. you will then recieve clearence that day that its hpi clear. job done. But it seems that people feel like there gonna get rippedof even though the car is mint. Annoying more than anything 
Don't put t in the advert because its irrelevant.
When they collect the car if you're paying the finance off they'll never know it had finance attached to it?
If they HPI check it explain the situation then
When they collect the car if you're paying the finance off they'll never know it had finance attached to it?
If they HPI check it explain the situation then
I was thinking that mate but then i was thinking if they found out they might think im also hiding other things to do with the car. Anyways its been relisted on ebay a few times plus its advertised on here with the finance declared, so people will notice ive changed it? Oh well
Just seen your car in the for sale section, It looks a really nice example but I think if you lowered the price a little you would be better off. They are going for around the £4.5 - £5k mark but with slightly higher mileage. I would be asking around £5250 and be prepared to let it go for around £5k.
A good selling point is the mileage on it though, its really low for a 6 year old car.
A good selling point is the mileage on it though, its really low for a 6 year old car.
No its not, its illegal to sell a car with finance if you dont clear the amount owed or inform the finance company that your selling the vehicle. That a pure myth that everyone seems to bring up. having said that though each finance company have different rules and agreemants so they might say your not allowed to sell the vehicle... that would then be illegal. But i can see where people are coming from tbh, cant trust no one these days eh. but can atleast come and view the car and take it from there, but ive had no interest. its a shame really.
Yeah its very nice car, im in no rush to sell but i'll take on board what you said about the price, i see people asking for funny money 6k plus for cars with 60,000 miles so i thought i was being reasonable. one sold the other day with a higer mileage for 5500, was a diesel mind you, seem to be in demand more due to running costs.
The £6k plus cars are going to sit around for ever though mate, Diesels are always going to sell faster and command higher premiums. Its hard times selling a car nowadays as everyone is skint.
Could you not throw it in at the dealership part ex against a MK5 Ibiza and explain the finance situation ?
Put in your add......on the day of collection, me and the new buyer will go into the dealers where i bought the car from and the new buyer can see that its being paid off.
My guess is the op cant pay it off because he needs the money from the sale to do so!
My question is...why not just trade it in at the dealers you got it from and carry the finance over to another car??
This is another reason why id never have a car on finance!! Your stuck with it. Unless you trade it in at pulled ya pants down trade in prices.
My guess is the op cant pay it off because he needs the money from the sale to do so!
My question is...why not just trade it in at the dealers you got it from and carry the finance over to another car??
This is another reason why id never have a car on finance!! Your stuck with it. Unless you trade it in at pulled ya pants down trade in prices.
I have already tried that avenue but they said the most they'd give is 3800, i'll never get credit for a new car with negative equity at my age
1)Because the buyer would pay off the finance, and give me the excess. that would be part of the price.
2) Could take that in to into account and knock a bit of a price , only after they took into consideration all the work thats just been done.
Outstanding finance would put me off. This is because I don't know you. You may be as honest as the day is long but it means nothing to a stranger.
Pay off the finance and then sell it.
Pay off the finance and then sell it.
The finance is through BLACK HORSE not a dealership, they could get conformation from them that its hpi clear before they left with the car.
I would never get credit on a new car with negative equity put on the new one.
Yeah your right but if you want the car and dont have the lump sum its the only option. Yeah the part ex price they gave was 3800 , total joke haha.
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