Buying a car privately with finance outstanding

[WJ99mobile]

Has anyone done this?

Going to pay off the finance while at the property and transfer the balance to the owner. Just wondering if there’s anything I should do to cover myself etc.

[Igovernor]

Not making yourself very clear, what are you on about "at the property" ?

[Former Labour leader]

https://www.parkers.co.uk/car-sellin...nding-finance/

[WJ99mobile]

Not making yourself very clear, what are you on about "at the property" ?

Going to their house
Checking the car over
Paying off fianance while in their company
Signing over documents

[sneggyblubird]

Three things spring to mind.

Check they have the documents before parting with any money.
Check that the person you are dealing with is on the V5(not selling on behalf of someone else not present.)
Only pay the outstanding balance directly to the finance company concerned.

[Fine Lines]

sound dodgy to me. have a look at Leasing.

[dml1954]

Dont touch it with a bargepole. Car belongs to the finance company until the debt is paid off. If the loan is not cleared they can come and take it back from you at any time. You wouldnt buy a car off a garage with outstanding finance on it would you ?.

[WJ99mobile]

Dont touch it with a bargepole. Car belongs to the finance company until the debt is paid off. If the loan is not cleared they can come and take it back from you at any time. You wouldnt buy a car off a garage with outstanding finance on it would you ?.

I would be paying off the finance on their behalf at their property.

With the v5 form being transferred at the same time