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Based in Bridgend, South Wales, we have over 38 years of experience and are committed to helping you sell your car fast, in a safe and easy way, whilst providing the best possible customer experience. We will travel to you if it is within 30 miles or an hour's travel from Bridgend.
Can you sell a car you don’t own?
May 30, 2015, 1:32 pm
That title may sound a bit misleading, so to clarify: we’re not talking about selling any old car off the street, this article is about selling cars that the bank/ lender has titles to or the vehicle of a deceased family member or one who is not of sound mind.
The short answer is, yes. It is possible to sell a car that you don’t own outright, but this will be strongly dependent on your individual circumstances and the way in which you are looking to sell your vehicle.
How to sell a car with outstanding finance
First things first, if you have outstanding finance on the vehicle then it isn’t advisable to sell unless:
- You cannot afford repayments
- Cannot afford the running costs
- You need a larger car for your increasing family size
- The cost of maintenance is greater than the cost of the car
If you are determined to sell your car then it is important that you get the best price for it as you will need to pay off the finance and ideally make money on the sale. Because the car is not owned outright by you, a private sale may be difficult and time consuming – but it is possible. If you do decide to go down this road then be patient as it can take a while to find the right buyer, stick to your guns and don’t sell for less than you’re happy with.
An alternative is to find a car buying service who are happy to take over your financing requirements, offering you a fair price while purchasing your car quickly and as hassle-free as possible. Once a price is agreed on there are two ways that you can sort out the finance, either doing it yourself or letting the car buying service sort it out with the company, deducting this figure from the car’s value.
Selling a car that isn’t registered in your name
We’ve previously covered selling a car with probate <INSERT LINK> which will give you all the information you need to know about selling the car of a deceased family member. If you’re trying to sell a car that isn’t in your name for another reason then read on.
There are very few reasons that you will be able to sell a car that isn’t in your name, these include:
- If you are the executor of the estate
- If you have financial power of attorney
- With confirmation of intentions from the registered individual
- If you’re the owner, but not the registered keeper
When selling a car that you are not the registered keeper of, expect to come across a lot of suspicion when selling privately. Lots of people will think that you’re a scam artist and are trying to rip them off, even if you do have all the correct paperwork.
You can avoid this unnecessary hassle and sell your car in just 24 hours by using Cashpoint4Cars. As long as you can provide documentation proving that you can legally sell the vehicle then we are happy to buy it! Unlike other car buying services, we won’t quibble over price and what we quote is exactly what we’ll pay.
Fill out your registration number today for your free quote.
