Car arriving tomorrow - advice on selling mine

[MattB1989]

Hi Guys,

Just had a call from the dealers to tell me my cars arriving tomorrow, but was initially expecting mid Jan delivery!

They’re fine for me to hold off, finance will be £1 more per month! However Sat Nav is now included

So this now means I’ve got to sell my car... Going to put it on either today or tomorrow. The only question really is the existing finance on the car. Would you mention this in the Ad? How would you go about doing the transaction (They pay off finance)?

Sorry first time I’ve sold a car with finance on, so all new to me!

All advice appreciated

Cheers,

Matt.

 

[Wondering Soul]

Exciting time for you!

There are various ways to accomplish this with outstanding finance but a few things need to be outlined. Firstly, you will need to give the finance company a call and get a 'Final Settlement' figure which will be valid for anywhere from 24 hours to a month. This will be the total amount owed to them if you were to pay off the value within the quoted period.

The most important thing to note is that in most circumstances, no one but yourself is able to pay the finance off, a third party usually cannot pay directly to the finance company. This leaves you with a few options, either pay the finance off yourself prior to selling if you have the cash; get the buyer to pay you the asking price and then settle the difference with the finance company if there is any or take a loan, pay the finance, sell the car, pay the loan.

I would have a read of your finance documentation as it may have details regarding how the value can be settled early.

 

[Whitestar]

Have a look at webuyanycar.com, trouble free transaction, you get your money within a week & they are pretty good on price too.

 

[Jassyo06]

Evans halshaw bought my car from me,gave me the cheque,stashed it in the bank,then paid it to Audi they settled the finance for me and kept the equity to go towards the the new car
Ps Evans halshaw beat all them we buy/we want your car peeps by £1200

 

[MattB1989]

Thanks for the advice all

I've already got the settlement figure and the BACS details for Audi Finance, so I guess it's just a case of me putting on the Ad that the finance will need to be cleared before the car is taken?

 

[Soulboy]

Have you no access to short term funds to pay the finance off, then sell it without outstanding finance?

I personally would be wary of buying anything with outstanding finance on it. How does the buyer know you will repay it?
In which case they have paid the money but don't own the car.

 

[S32B]

If you are in the North West I'd say try Fords of Winsford, they gave me £1000 more than Audi and the deal was all done within 45 mins. I just took the car in, they checked it over and then gave me a cheque. I'll be doing the same with this car if Audi give me a silly px when I come to change.

They were only £400 below what the private selling price was, so for that it's not worth the tyre kickers coming to your house!!!

 

[Scottyg]

I did the same as @jassyo06. Got quote from WBAC booked appointment with EH and took it to them. They gave me near on £2000 more than Audi would on trade in. Audi were £10200, WBAC £11800 and EH £12250. They paid the finance off there and then in front of me on their computer system and I topped up the outstanding to EH. Simples. Took around 40 mins to complete.

 

[MattB1989]

I'll try selling private first, as I think I'll get more. Might go check out Evans Halshaw if I get desperate!

Might be able to get some funds together to pay off the finance and just sell as normal.

Just want the S3 now I know it's here!

 

[A3_Rider]

- Check the value via parkers.co.uk (free one)
- Check the prices for same/similar to yours on autotrader/pistonheads (be realistic!)
- Check WBAC and at least one other (thats not their sub company)

Make your decision!

I was in a position where WBAC and Audi offered so little!, was just shocking!, whereas the market value (that I could actually sell at - again why I say be realistic!) was almost twice that and so that's what I did, it went quick too but it was the only one in the country in that spec and condition! Had I found that they did not sell much I probably would have accepted the loss but it was in demand

 

[Whitestar]

Just seen an advert for Evans halshaw guaranteeing to beat WBAC quotes. I'll definitely give them a look when it comes to selling my A1 when I've got my A3, so thanks for the info @jassyo06

 

[Eigdoog]

Im kinda in the same place as you, need to sell a car with finance but how to do it.

Let me know how the private selling goes as my car is not here yet but won't be long.

 

[S32B]

Just seen an advert for Evans halshaw guaranteeing to beat WBAC quotes. I'll definitely give them a look when it comes to selling my A1 when I've got my A3, so thanks for the info @jassyo06

I saw the same add, when I called in without an appointment to see them, the woman who did the quotes was on her dinner, I got chatting to a sales guy and he said "A lot of the time they do offer more, sometimes only £10 more"!!!

 

[MattB1989]

- Check the value via parkers.co.uk (free one)
- Check the prices for same/similar to yours on autotrader/pistonheads (be realistic!)
- Check WBAC and at least one other (thats not their sub company)

Make your decision!

I was in a position where WBAC and Audi offered so little!, was just shocking!, whereas the market value (that I could actually sell at - again why I say be realistic!) was almost twice that and so that's what I did, it went quick too but it was the only one in the country in that spec and condition! Had I found that they did not sell much I probably would have accepted the loss but it was in demand

Thanks, I'm trying to be realistic! Seen others for 17-18k with similar mileage, so I'll be happy with 16.5 to 17.

Im kinda in the same place as you, need to sell a car with finance but how to do it.

Let me know how the private selling goes as my car is not here yet but won't be long.

Will do Sold my last TT without a hitch, but that was a 12 year old one, for 4k! Bit different this time.

Thanks again for all the advice!

 

[Soulboy]

Another thing selling private.....

Price it up competitively then don't be prepared to drop the price much.

If it is relatively cheap, people will pick it up on searches. If they come and see it and it's a good car they will want it. With a bit of luck you will get more than one potential buyer. And then just don't budge on price.

Better than pricing high with the intention of dropping the price. Doing that won't even get picked up on searches and buyers won't even get to see it.

 

[Jassyo06]

Selling private at this time will be extremely difficult not impossible but real difficult.....

 

[Simon L]

Selling private can be hellish at the best of times.........if there's only a few hundred quid in it I personally couldn't be doing with the grief

 

[matts1]

Selling with finance on it WILL be off putting, dont put it in the advert, let people call and talk to them at that point (before they travel to view). See if they can pay the finance direct, in which case they do and clear it and pay you any remainder. If not, then have them pay your via transfer and pay it off in front of them and let them speak to the finance to confirm it is clear.

as said, if only £500 in it, then go the easy route, time wasters, rogues sniffing round etc, not worth it.