An outstanding finance check shows if a vehicle has any unpaid loans or money owed on it. It helps you find out if there is any outstanding finance, so you don’t get stuck with someone else’s debt.
The outstanding finance check makes sure you know if there are problems before you buy the car. By checking for outstanding finance, it keeps you safe and helps you make a smart choice. This check is important for buying a car without worries.
Our Outstanding Finance Check provides a detailed report that includes information such as:
If you sell a car with outstanding finance, you could face legal issues because the lender still owns the vehicle.
Buyers often perform an outstanding finance check to protect themselves, so clearing the balance is crucial. Always inform the buyer about the outstanding finance and settle it to avoid problems.
The different types of car finances include:
If a payment is missed on HP or PCP finance, the finance company can take the vehicle back.
Generally, personal loans are not secured against vehicles, so they can be sold and the balance settled afterwards.
A car with outstanding hire purchase (HP) finance can only be sold if the lender holds legal ownership of the vehicle once the loan has been paid off. To sell a car with outstanding finance, you need to end your HP agreement.
To do this, you have to get in touch with your finance company and ask them for a settlement payment.