Finance Question

[jimmyV8]

I bought a 2008 Mini Cooper S using Mini's Finance Scheme, however due to a change in job and a dog (long story) I need to replace it with something larger and diesel. I want to repay the outstanding finance with the proceeds of the sale, however my concern is should the car be HPI checked it will appear as having outstanding finance and therefore potentially put buyers off. What is the best thing to do in this circumstance? What assurances can I offer to a buyer that I will repay the finacne other than my word or some kind of written arrangement? Any assistance would be great. Thanks

[jdw1234]

Get them to pay the finance off. The finance company will immediately send you an email confirming they have no outstanding interest in the car.

If you ask them nicely, they will also instantly amend HPI so it will read clear.

[kiethton]

when i was trying to sell my car in similar circumstances i informed all buyers that there was still finance on the car. I said i would get a settlement figure from the finance company and they would settle the finance directly with the finance company, with the remaining amount being given to myself.

This way the buyer has peace of mind knowing the finance is settled and i knew the finance was settled and was holding the excess cash in my hand.