It is with a heavy heart that I have to sell my pride and joy.

Due to a pending large house purchase, going down to one car and the need for 7 seats, it just has to go, no matter how much I try to convince myself otherwise.

Anyway, as I wipe a tear from my eye, my question is where is the best place to sell? The reason I ask is because it has outstanding finance on it? Would this be possible to sell to someone privately and if so what would be the best way to proceed with a sale bearing in mind i would be unable to settle the finance prior?

Thanks in advance for any advice

Kev

The buyer can pay the finance company off and if there is any more value left in it give it to you. Speak to the finance company and get a settlement figure. Advertise on here and autotrader

Thanks Brian

What would be the best way for the buyer to settle the finance??

I will give the finance company a call to discuss but do you think this would put off potential private buyers?

The buyer can speak with the finance company and transfer the funds. It wouldn't put me off and most of the cars on the road have finance so it's very common for cars to have outstanding finance to settle. That's why I always do a full hpi check before buying to see if there is any finance owed on the car.

Thanks Brian.

I have never bought or sold a car privately that had outstanding finance on before.

Its good to know that it doesn't seem that much of an issue.

We bought a car many years ago that the seller had no equity in. It was all financed. Once we had the seller's approval/ details for the finance company we contacted and paid the finance company directly with no problems and it was great car.

The only issue was the seller intially insisting that we pay the money to him and he would forward it to the finance company; and I'm sure he would have done but we didn't risk it, much to his displeasure.

Maybe the way to go with this type of thing is to openly declare it to the prospective buyer from the outset instead of introducing it at the point of sale, which might spook - not all - but some

Out of curiosity, why would he be displeased with you paying the finance company directly? Is there an innocent explanation?

Obviously I will fully disclose the outstanding finance in any advertisement. I wouldn't want any prospective buyer to be put off by feeling I had been dishonest in any way.
Thanks for the views.

Kev