Selling car on finance!?!

[riche]

As ive lost my job and got myself into a bit of bother financially, i need to sell my car so i can pay the finance off.

Is there a legitiment way of doing this? or is it just a case of being honest with the buyer?

and is 4k reasonable for an 03 1.2 16v with 50k on the clock? im getting the standard bumpers put back on and colour coded. also has 18'' wheels.

Rich.

 

[Guy]

i THINK you need to get a settlement figure off you finance company..

say you owe 4k, and your selling it for 4k think, think you can get the buyer to make a cheque payable to the finance company.. this then reassures them that your not just going to get the money and then the car get reposesed by finance people leaving them fucked over..

BUT i it depends what sort of finance youve got..

 

[gazcaddy]

Sorry to hear that mate, 4k seems a bit pricey I think more about 2.5k

As far as Im aware you cant sell the car unless you can pay the finance company first

 

[James172Cup]

I did this with my 1.2 sport 2 years ago, basically got renault finance to give me a settlement figure, got the current buyer to make a cheque out to renault finance for the amount and another to me for the balance. It is best to be honest to the buyer in my opinion as if they go home and HPi it you'll never hear from them again.

Btw, i got 3800 for mine (owed 3k on finance) it was a 2001 1.2 16v sport but only had 17k on the clock in 3 years.

 

[3000GT_PILOT]

lol@ 2.5K

we paid that for an S reg 1400 4 months ago.

best thing to do is look on autotrader for what they go for. although expect to take alot less at this time of year!

 

[Middo]

what models your clio? if its a dynamique i'd say around 3.5 to 4k with that milage

 

[gazcaddy]

lol@ 2.5K

we paid that for an S reg 1400 4 months ago.

best thing to do is look on autotrader for what they go for. although expect to take alot less at this time of year!

I got that figure of the autotrader website under check value link

I have just looked on Parkers and for a 1.2 16v dyanamique with a/c 2003 03 the private sale ranges between 3675-4790 but thats for a car with 20,000 miles on it

I dont think he will get 4k for it although after looking into it, i admit he should get more than 2.5k

 

[James_Extreme]

4k is a fair price i paid 4.4k for my 1.2 extreme 02 plate. partly depends on the area where you live. dixons were asking around 6k for the same spec car lol

 

[Ad]

3.7k-4k is fair price. depends on condition though.

Parkers and glasses are not representative. Have a good look in autotrader to price it as thats what you'll be competing agains

 

[fizzy_drink]

AFAIK under the 50/50 rule, you can hand the car back to the finance company... provided that you're paid 50% of the total amount in the agreement.


So, let's say it was a 4 year finance, no baloon... a little after two years, you can hand it back.

 

[TD172]

Make sure they send a bankers draft to the finance company and not a cheque! The buyer could cancel a cheque. And asking them to wait untill a cheque clears may be inhibitive as they could always buy another car and have it "Like Now".

Omar. My finance company (FIAT tossers) told me that I would get a bad credit mark on my report if handed them the car back. And that was at 70% paid as well.

 

[Ad]

^^ thats not true and its your legal right on HP to end after 50%+, they couldnt put a balck mark against you.

 

[lewisniven]

this is why i took an unsecured loan to pay for my car, that way ur not in any stick when it comes to selling the car, mind you I work for halifax too so I get it at 6.4%

 

[AliasOmega]

i sold my 2002 1.2 16v clio with 33k on the clock for £3600.