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Car bought on finance--how to sell!?

Car bought on finance--how to sell!?

Old Jul 11th 2009, 5:11 pm
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Default Car bought on finance--how to sell!?

Hello,

I think I probably ought to know this, but since I've always bought second hand in the UK, I have to ask......

I bought a new Pajero in Feb on finance over 3 years. I've been here a year, and think I may go somewhere else in June when my contract ends.

What on Earth do I do.....can I sell the car to someone who agrees to take on the payments.....or do I have to pay the redemption fee and outstanding balance to sell?

Thanks in advance
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Old Jul 11th 2009, 7:01 pm
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Default Re: Car bought on finance--how to sell!?

Originally Posted by BettyCrocker View Post
Hello,


I bought a new Pajero in Feb on finance over 3 years. I've been here a year, and think I may go somewhere else in June when my contract ends.

What on Earth do I do
Thanks in advance
You cannot transfer ownership until the bank loan has been cleared by whatever means, simple as that really I believe.

Always sold my cars long after loans paid!
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Old Jul 11th 2009, 7:24 pm
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Default Re: Car bought on finance--how to sell!?

Originally Posted by BettyCrocker View Post
Hello,

I think I probably ought to know this, but since I've always bought second hand in the UK, I have to ask......

I bought a new Pajero in Feb on finance over 3 years. I've been here a year, and think I may go somewhere else in June when my contract ends.

What on Earth do I do.....can I sell the car to someone who agrees to take on the payments.....or do I have to pay the redemption fee and outstanding balance to sell?

Thanks in advance
so when you need help or advice you come back to BE, ask your friends.
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Old Jul 11th 2009, 8:32 pm
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Default Re: Car bought on finance--how to sell!?

Originally Posted by Blue Cat View Post
so when you need help or advice you come back to BE, ask your friends.
Yeah, shoot the woman...

I'm just imagining you, sitting in a Tourism Information Booth, and shouting and yelling and cursing at people who come over to ask questions and get information...
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Old Jul 11th 2009, 9:57 pm
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Default Re: Car bought on finance--how to sell!?

Originally Posted by BettyCrocker View Post
Hello,

I think I probably ought to know this, but since I've always bought second hand in the UK, I have to ask......

I bought a new Pajero in Feb on finance over 3 years. I've been here a year, and think I may go somewhere else in June when my contract ends.

What on Earth do I do.....can I sell the car to someone who agrees to take on the payments.....or do I have to pay the redemption fee and outstanding balance to sell?

Thanks in advance

So I'm thinking maybe there is some history here BC????
Who cares I don't know you Betty but I have to say (now it's harsh but inevitably true)...:'Empowerment'
Sorry if that's a dirty word.

What on Earth do you do?

'Well I don't really know Mavis' said Betty (or was it Rita)....
Oh here's one.....take it back to the silly Bank Manager who loaned you the money- on no credit history but bona fides and tell him emphatically he forgot to mention sale or return terms when it got dirty.


Or on the other hand, read this:
http://www.gulfnews.com/nation/General/10233560.html
hth

Last edited by Eva; Jul 11th 2009 at 9:59 pm.
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Old Jul 12th 2009, 3:30 am
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Default Re: Car bought on finance--how to sell!?

1. Find some one who wants to buy it, explain it is on loan and get money from them. You can let them start using the car I suppose - but it will be still registered/insured by you - tough call!

2. Take money to bank or institution who lent you money.

3. Clear loan. You may of course need to add to this to cover outstanding amount.

4. Bank will issue you a letter to say loan cleared (as this is noted on the RTA docs).

5. Car is transferred as normal at RTA/registration office.

.....wonder why yiou ever came here, bought a car for 100,000 then sold it to me for 5000.............................................. ...
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Old Jul 12th 2009, 4:02 am
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Default Re: Car bought on finance--how to sell!?

Originally Posted by Blue Cat View Post
so when you need help or advice you come back to BE, ask your friends.
That will teach you not to ask a question till you have posted more regularThats not usually you BC?
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Old Jul 12th 2009, 5:56 am
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Default Re: Car bought on finance--how to sell!?

Originally Posted by rowell View Post
That will teach you not to ask a question till you have posted more regularThats not usually you BC?
no it isn't like me to be like that but I think it is fair to say I am not the only poster who gives up time to help out with others queries, they take what they want and leave, the don't really contribute to the board and I find it quite irritating.
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Old Jul 12th 2009, 6:27 am
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Default Re: Car bought on finance--how to sell!?

Originally Posted by Blue Cat View Post
no it isn't like me to be like that but I think it is fair to say I am not the only poster who gives up time to help out with others queries, they take what they want and leave, the don't really contribute to the board and I find it quite irritating.
This place is for everybody, they don't have to hang around and chat about the weather if they don't want to.
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Old Jul 12th 2009, 6:29 am
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Default Re: Car bought on finance--how to sell!?

Originally Posted by Spugsy View Post
This place is for everybody, they don't have to hang around and chat about the weather if they don't want to.
I know Spugsy but I have lost count of the amount of threads that many of us have posted on with various quieries and the OP hasn't even come back to reply on them!
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Old Jul 12th 2009, 6:43 am
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Default Re: Car bought on finance--how to sell!?

Originally Posted by Blue Cat View Post
no it isn't like me to be like that but I think it is fair to say I am not the only poster who gives up time to help out with others queries, they take what they want and leave, the don't really contribute to the board and I find it quite irritating.
That is quite true BC but at times this is not a very pleasant board to post on, and not only for new posters
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Old Jul 12th 2009, 6:55 am
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Default Re: Car bought on finance--how to sell!?

Originally Posted by rowell View Post
That is quite true BC but at times this is not a very pleasant board to post on, and not only for new posters
point taken
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Old Jul 12th 2009, 7:52 am
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Default Re: Car bought on finance--how to sell!?

Originally Posted by BettyCrocker View Post
Hello,

I think I probably ought to know this, but since I've always bought second hand in the UK, I have to ask......

I bought a new Pajero in Feb on finance over 3 years. I've been here a year, and think I may go somewhere else in June when my contract ends.

What on Earth do I do.....can I sell the car to someone who agrees to take on the payments.....or do I have to pay the redemption fee and outstanding balance to sell?

Thanks in advance

http://britishexpats.com/forum/search.php
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Old Jul 12th 2009, 5:01 pm
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Default Re: Car bought on finance--how to sell!?

Originally Posted by Spugsy View Post
This place is for everybody, they don't have to hang around and chat about the weather if they don't want to.
Think of BE as a pub where the regulars hang out...
One day someone comes in and asks questions about the neighbourhood and other details blabla, and then they all of a sudden disappear...
Only to come in, after 6 months, to ask another question and leave off again...

Putting things in perspective will actually make you see where BC is coming from...
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Old Jul 13th 2009, 7:27 am
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Default Re: Car bought on finance--how to sell!?

Originally Posted by Confucius View Post
Think of BE as a pub where the regulars hang out...
One day someone comes in and asks questions about the neighbourhood and other details blabla, and then they all of a sudden disappear...
Only to come in, after 6 months, to ask another question and leave off again...

Putting things in perspective will actually make you see where BC is coming from...
or how about coming to said pub, asking question, promises to come back in an hour for the answer but never does!
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