How to sell a car with finance on it ?

[SugarPlumpFairyCakes]

I want to sell my car. I need something cheaper and smaller.

However, there is still money owed on it through the car finance agreement.

Can I legally sell it and pay back the finance or is it not mine to sell? I have asked the bank for a loan to pay off the finance but they have refused me.

The finance company are really not helpful in advising me.

Any help please?

Who valued it...? If you got it valued at double the amount the dealer offered, sell it to them?

I'm not dyre if it's my maths, but...

The car has been valued at £40k and you have £25k left on the finance, you'd walk away with £15k if you sold & settled today.

On this basis, doesn't the dealerships offer of £17k sound fair?

Or have I missed something?

motorway are pretty good and usuay given decent valuations too. You can upload all pictures and information to get a price with no obligation to go ahead. exh has to sell his car which was on pcp to buy me out when we split up. The transaction was pretty smooth and the finance aide was sorted out by them and he got the leftover equity.
we buy any car will also so the same.
you can’t sell it privately without settling the finance first but there are options open to you

And bear in mind dealers see women coming at 100 billion miles...

It will be quick and easy to take your car to ‘we buy and car’ and find out what they would give you. When I was buying a second hand car first my dd I looked on auto trader every day. You soon get to know what the market is and what a car is worth. I went from not having a clue about fiat 500s to thinking ‘ thirty thousand miles! They will never get that’.

The dealer has offered 17k so the op would still need to pay 8k more to settle the finance

So I sell to the dealership for 17k and I’d still owe 8k on the finance after selling it?

Sorry, I thought the dealer's price would be after settling the finance.

That’s really rubbish OP. Can you keep up the monthly payments, if you can it’s probably worth keeping the car for a while.

Sold mine through motorway a few months ago. Got a really good price for it (more than dealership) - was stress free experience - someone came and collected it off my driveway and the car dealer settled the finance for me. Super easy!

You’re not screwed, you just need to sell via Motorway, We buy any car etc. Even with no finance, a 40k car via private sale is unlikely.

I’ve used both & the experience with Motorway was much better. You can put your reg in for a rough price.

Monthly repayments are killing me. Over 1k pcm.

I asked if finance company would extend the finance length to reduce the payments. They refused.

I asked the bank for a loan. They refused.

I mean I make the payments every month without fail. It’s just so tight because of the high cost.

I don’t even like the bloody car!

I’m not in the UK. So can’t sell via motorway.

But I have now researched the equivalents of Motorway where I am. I will give it a shot. Thank you for all your honest insights. Much appreciated.

You can absolutely sell the car! As long as you sell it for enough to clear the outstanding finance in full. You need to get a settlement figure from the finance company first. DH is in car sales and it’s done all the time.

I sold one of my cars with outstanding finance to another dealership. They gave me £500 more than the outstanding finance and cleared it themselves. Easy peasy.