Forgot your password?
New user?
Document Actions
Swapped cars with a friend but now we have found it has finance on it: can we still sell it?
We recently swapped our car for my friend's car but now we don't want the car. We have only just discovered it still has finance owing on it until September this year. He said he is paying the finance off and will continue to do so, but can I sell the car on? What happens if he stops paying it?
Never buy or sell any car without conducting a detailed vehicle check. Ironically this is especially true with friends and relatives as a deal which goes sour can poison a relationship.
You will struggle to sell the car with finance on it. Much depends upon the value of the car and the amount of outstanding finance.
You could pay off the finance, sell the car and ask him to pay you but that has obvious risks. If you are happy with the car keep the pressure on him to make the payments. The finance is probably sufficiently paid that the finance company cannot reclaim the car, but if he doesn't keep up the payments and wont take the car back you will probably be stuck with it.
Important! Ask your own free questions... Questions are answered accurately at the time they are posted but the law can change or your circumstances may differ in an important but not obvious way from those mentioned. For fast, free and up-to-date personal legal advice direct to your inbox about your own individual case ask Law Answers your own free legal question.
