Finance Companys?

[Angela238]

I owe finance on my car but want to sell it, it is worth more than the finance I owe but if I can not sell it for more than the finance can I return it to the finance company? and then we are all square? The police is confusing when I read it ?

[NORMANTHEDOG]

what do the police have to do with it,read your finance agreement,it will tell you in that.

[thundercrack]

hi,
all policies are confusing. I think you will find that you cannot sell your car whilst on finance as it belongs to the finance company. some garages will take cars and settle the finance, but I doubt if you would get a fair price.
It might be worth a call to the finance company and get their view on the matter.

[amonty1144]

Beware of returning the car to the finance company, they will sell it at auction and if that is less than the amount you owe, you will be liable for the rest and they will chase you for it.

[RevFunk]

There is no way on earth that your car is worth more than the finance. Finance companies over inflate the price of cars so you pay 6000 grand for a car on finance when it's really woth 4500-5000 so you never gain.

[tubeway]

There are circumstances where you can just return the car to the finance company - depending on the type of agreement and how much of the "Total Amount Payable" that you have paid. The finance company do not like it - but you have a right to do it.

[Angela238]

The Settlement figure is 10200 and the car "which" and "autotrader" price is private worth 11500, I think I shall autotrader it, Mazda Dealer / Garage have offered my 9800 so I think I shall have to cut my losses and run.
Thank you all for you comments
Angela

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