Buy a car with outstanding finance

  • The amount of money owed on a car is referred to as outstanding finance. The registered keeper is responsible for the remaining balance, and the finance company will retain the car until it is paid off.

"A vehicle outstanding Finance check will show a car's entire history and also the amount of debt it still owes."

Can I sell a car with outstanding finance?

  • It is against the law for the vehicle's keeper to sell the car without the owner's permission. It is not possible to sell a car with outstanding finance, the keeper must pay off the finance agreement and only then will they have the rights to sell it.

  • If you sell a car with outstanding finance without informing the customer that there is still finance owed on it, the finance company is likely to track the car down and repossess the car, the buyer can also file a complaint according to the buyer rights, since you didn’t reveal important information before selling.

  • As a seller, it is your responsibility to pay back the loan and follow the rules, and ignorance is not an excuse under these conditions.

  • If a car owes finance payments, the car belongs to the finance company.

Is it possible to buy a car with outstanding finance?

  • If you buy a car with outstanding finance, it always belongs to the financing company. They'll expect the registered keeper to hand over the payments, so if you become the registered keeper, you'll be held responsible for whatever is owed, which may be thousands of pounds.

  • That's why it's crucial to obtain evidence that the loan has been paid off before buying a vehicle. If you can't access anything from the seller, a complete car check will give you the contact details for the finance company, which you can use to ensure the loan has been paid off.

Why go for car outstanding finance check?

  • The car outstanding finance check includes multiple checks, along with a logbook advance check, to ensure that the car you're buying is safe and legal to purchase. The outstanding finance remains with the car, so if you buy a car without verifying its condition, you risk losing it.

  • Outstanding finance deals are often settled at the point of sale when buying a used car from a dealership. This is very normal, but you can talk to them about it before handing over the money and have written documentation that they can pay off the debt.

  • The car outstanding finance check will help assure that the car you want to buy is a good investment. You can avoid committing yourself to unnecessary risk, i.e. “buying someone else's debt” by getting a car finance check.