Selling a Car with Outstanding Finance
Are you thinking about selling your car, but still owe money on it? Don't worry! At Taha Auto Group, we're here to help. We know that dealing with car finance can be tricky, but we'll make it easy for you to understand. Let's explore how you can sell your car even if you still owe money on it.
Understanding Car Finance Before Selling​
Before we dive in, let’s talk about what car finance means:
- Car finance is when you borrow money to buy a car
- You pay back this money over time, usually in monthly payments
- Until you’ve paid all the money back, the car isn’t fully yours
Now, let’s see how Taha Auto Group can help you sell your car, even if you still owe money on it.
Removing a Car with Outstanding Finance
Yes, we can remove a car that still has finance on it, but certain steps need to be followed. Here’s a quick summary:
- Car has no finance: We can remove the car immediately.
- Car has finance, and you know about it: Let us know how much you owe. We’ll work with you to get a letter from the finance company or pay off the debt.
- Car has finance, and you didn’t know about it: We’ll guide you through the process to get everything cleared up.
- You want to remove the car but don’t know if it has finance: We’ll perform a finance check for you.
How We Handle Cars with Money Owing
When your car has finance, it means there is still money owed on it. This can be tricky, but we’re experts at dealing with these situations. Let us explain how we do it.
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Vehicle Background Check
When you contact us to remove your car, the first thing we do is perform a background check. Here’s what we look for:
- Basic vehicle details: We check the make, model, and year of your car.
- Ownership check: We make sure you’re the legal owner of the vehicle.
- Stolen vehicle check: We ensure the car isn’t listed as stolen.
- Finance check: We check if there’s any outstanding debt on the car.
We do this to make sure everything is clear before we proceed. If your car has no finance, great! We can move forward with the removal right away. However, if there’s still finance on the vehicle, here’s what happens next.
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What Happens If We Find Finance?
If our check shows that your car still has finance, we’ll reach out to you and ask about the amount owed. Sometimes, you might already know about this, especially if you bought the car with a loan. But other times, you might not be aware, especially if the finance was taken by someone else before or after selling the car. This is common, and we’re here to help guide you through the next steps.
Why Choose Taha Auto Group?
At Taha Auto Group, we make the car removal process simple and stress-free. Here’s why we’re the best choice for you:
- Experience: We have years of experience in the car removal industry.
- Finance experts: We know how to handle cars with outstanding finance.
- Fast and reliable: We can remove your car quickly once everything is sorted.
- Friendly team: Our team is here to answer any questions and make the process easy for you.
If you’re ready to remove your car, give us a call at 0800 110 396.
What’re your options To sell car with finance owed?
If your car has outstanding finance and you still want to remove it, don’t worry! You have a few options to clear things up.
Option 1: Get a Letter from the Finance Company
The easiest way to move forward is by getting a letter from the finance company. This letter should say that the finance company is okay with you selling the car for scrap. They may choose to take another piece of property or asset as security for the remaining loan.
Once you have this letter, we can move forward with the removal.
Option 2: Pay Off the Debt
In some cases, you might need to pay off the remaining debt on the vehicle before we can remove it. This clears the way for you to sell the car without any issues. Once the finance is cleared, we can remove the car immediately.
Option 3: We Pay the Debt (Rare Cases)
Sometimes, if the value of the car is worth it for us, we might offer to pay the debt ourselves. This is rare and usually happens only when the car is valuable. In these cases, we would take full ownership of the vehicle after clearing the debt.
Tips for Selling Your Car with Outstanding Finance
Here are some helpful tips to make the process easier:
- Know how much you owe: Before you start, find out exactly how much you still owe on your car
- Gather your paperwork: Have all your car documents ready, including any finance agreements
- Be honest: Always be upfront about any finance on your car
- Ask questions: If you’re not sure about something, just ask us!
- Plan ahead: Start thinking about selling your car before your next payment is due
Common Questions About Selling a Car with Outstanding Finance
Can I sell my car if I still owe money on it?
Yes, you can! But there are a few extra steps involved. That’s where Taha Auto Group comes in to help you through the process.
Will I get less money for my car if I still owe finance on it?
It depends. The amount you get for your car will be based on its value, not on how much you owe. However, you’ll need to use some (or all) of the money you get to pay off what you owe.
What if I owe more than my car is worth?
This can happen, especially with newer cars. In this case, you might need to pay the difference yourself. Talk to us at Taha Auto Group, and we’ll help you understand your options.
How long does the process take?
The time it takes can vary. If there’s no finance owed, it can be very quick. If there is finance to sort out, it might take a bit longer. We always try to make it as fast as possible for you.
What Our Customers Say
Don’t just take our word for it! Here’s what some of our happy customers have said:
Ready to Remove Your Car? Contact Us Today!
If your car has outstanding finance and you want to remove it, Taha Auto Group is here to help. We make the process simple and hassle-free. Whether you need help clearing the debt or just want to know your options, give us a call at 0800 110 396 or fill out the form on our website.
We’re ready to take care of everything so you can move forward without worry.
