smurtaza

Hi All,

How to sell a used car on loan in Melbourne?Does people buy it easily or its hard to find buyers?Is it better to use website or car dealer for selling such vehicle?

Please help and suggest?

Thanks

augigi

What do you mean, "on loan"? Is the registration in your name? Do you mean "under finance" with money owing?

smurtaza

On loan means under finance.

DrWho

You planning on settling the finance first...?

augigi

Actually "on loan" generally means something is borrowed.

If you have a car still under finance, you need to check your finance contract. It should state what you need to do in order to sell the car. Sometimes you sell it back to the leasing company, sometimes you can transfer the finance to a new buyer. Either way, the finance company is involved as they own the title/reg and get their money first.

smurtaza

Settlement of finance will take 5 years or pay early with early settlement charges.