Home / Car valuation / Selling a car with outstanding finance Selling a car with outstanding finance We can take the hassle out of selling your car, even where you have outstanding finance. Get started by entering your registration below to see how much your car is worth. To find out more details on our simple process, read the details below. GO How to sell your financed car Get a free online valuation Just as you would if your car wasn’t purchased on finance, it all starts by getting your free online valuation. Simply enter your registration plate, add your mileage, number of previous owners and the level of service history. Book an appointment at your local branch With over 450 branches across the UK, the average drive time to your local branch is less than 15 minutes. As you are selling a car with outstanding finance, you will need to bring an up-to-date settlement letter from your finance company which includes: Your settlement amount, Your agreement reference number. Sell your car without the hassle At your appointment you will be greeted by a friendly Branch Manager who will inspect your vehicle to ensure the details entered online are correct. Where our valuation is higher than the settlement amount, we will pay you the difference. If our valuation is lower than the settlement amount, you will need to pay the shortfall by Debit or Credit Card. Once the sale is confirmed, we will pay your finance company within 4 working days. Can I sell a car with outstanding HP finance? The lender is the legal owner of a car bought on Hire Purchase until all payments have been made. In order to sell the car, you will need to end the agreement early by getting a settlement quote. To get a settlement figure, you will need to contact the finance company asking for one. You should receive a settlement figure within a few working days from the finance company, and will then have a set period to pay the amount stated. Once this figure has been paid, the vehicle can be sold. If you have paid less than half of the total amount owed on your agreement, you could return the car to the finance company by paying the remaining instalments needed to bring yourself up to half of the remaining value; this includes any interest and fees. This is due to Section 99 of the Consumer Credit Act 1974 known as ‘voluntary termination’. You can read more about this in our guide on cancelling your car finance early. Can I sell a car with outstanding PCP finance? You can’t sell a car on PCP finance until you’ve repaid all repayments or the settlement figure. If you want to sell the car midway through your PCP agreement you will need to pay off the agreement early, which may be worth doing if the settlement figure is lower than the value of the car. Once the settlement figure has been paid, you will become the legal owner of the car, allowing you to sell the car to webuyanycar.com, privately or to a dealership. Similarly to HP agreements, there will be a clause in your contract known as ‘voluntary termination’ that will allow you to return the car to the finance company if you have paid half of the total repayments. However, voluntary termination will result in you handing back the car rather than potentially cashing in on any positive equity in the vehicle. Read more: Negative equity explained. Can I sell a car with outstanding PCH finance? If you have obtained a car through a Personal Contract Hire (PCH) or other lease agreement, you don’t have the option to buy the car as part of the agreement and cannot sell the vehicle. With PCH you are essentially renting a car for a period set out in the contract, meaning that the car is always owned by the finance company and must be returned to the lender at the end of the agreement. In some cases, you can request a figure to buy the car at the end of the agreement, but this is at the discretion of the finance company. Selling a car that was purchased with a personal loan Unlike Hire Purchase and PCP agreements, you legally own the car if you have used a personal loan to purchase, assuming you paid for the vehicle in full. Since you are the legal owner of the car, you can sell it whenever you please. However, it is important to remember that you will still need to make the monthly repayments for the loan for the agreed duration. Frequently asked questions Q: How do I get a settlement figure on my car finance? Q: Can I save money by paying off my car finance early? Q: I have a PCP agreement – can I settle this early and keep the car? Q: Can I sell my car to webuyanycar.com if I have a PCP agreement? Q: What if my car is worth less than the settlement amount needed? Q: How do I find the right person to contact in my car finance company? What our customers think Services Car valuation Sell my car Sell a car with ourstanding finance Scrap my car Tips & guides Selling & buying guides Car ownership guides Car maintenance guides Our blog Quick links Frequently asked questions Branch locator Careers About us Unsubscribe Our affiliate programme So Schofield Modern Slavery Act Statement Gender Pay Gap Report Tax Strategy Sitemap Tools Free car check MOT check Car tax check Partner sites webuyanyvan.com cinch.co.uk webuyanycarusa.com Corporate website Social media Terms & Conditions Privacy Policy Cookie Policy Cookie Preferences © We Buy Any Car Ltd. 2006 - 2021 We use cookies, some of which are needed to make our website work. We will only use non-essential cookies with your consent; you can consent by accepting all cookies. You can read our cookie policy at any time. Accept all cookies Manage your preferences