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Author Topic: trade car in and they pay off your loan?  (Read 4301 times)

Offline lloyd

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Re: trade car in and they pay off your loan?
« Reply #15 on: June 13, 2011, 06:31:32 pm »
your trade in is your deposit, sounding like this might be out of your reach :thumbd:

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    Offline Hozepipe

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    Re: trade car in and they pay off your loan?
    « Reply #16 on: June 13, 2011, 07:48:30 pm »
    Are you 20 years old? And have a loan?! How?

    Be careful DF, I think louise91 maybe a police officer trawling for bad men  ???
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    Re: trade car in and they pay off your loan?
    « Reply #17 on: June 13, 2011, 09:15:00 pm »
    I'm safe. You?

    Offline Hozepipe

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    Re: trade car in and they pay off your loan?
    « Reply #18 on: June 13, 2011, 09:39:59 pm »
    Abu Dhabi Blue Abarth 695 Tributo Ferrari

    Offline louise91

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    Re: trade car in and they pay off your loan?
    « Reply #19 on: June 14, 2011, 08:26:35 am »
    haha nah i could get it just watining for my car to sell, and im just impatient lol.

    yes im 20 and i have a loan, just have good credit rating!  :thumb:
    he's here, and i just love him! :)

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    Offline ctsui35

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    Re: trade car in and they pay off your loan?
    « Reply #20 on: June 14, 2011, 10:55:58 am »
    If the loan was taking out as a car loan with your bank ,then you have to clear the outstanding balance otherwise it might show up on HPI as outstanding finance, so a dealer may give or pay off your outstanding balance but how much on top you have left from the to use as a deposit. Cause we all know dealers really under value cars so the can pass then on themselves to achieve a bit of profit .

    Best to try and sell it privately as your doing now and hope that the right buyer comes looking for the spec that your offer. Fingers crossed it's a bad time for sellers at the mo!

    By the way does anyone wanna buy a 996 turbo!
    « Last Edit: June 14, 2011, 10:57:43 am by ctsui35 »
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    Offline cliff

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    Re: trade car in and they pay off your loan?
    « Reply #21 on: June 14, 2011, 02:09:45 pm »
    If the loan was taking out as a car loan with your bank ,then you have to clear the outstanding balance otherwise it might show up on HPI as outstanding finance, so a dealer may give or pay off your outstanding balance but how much on top you have left from the to use as a deposit. Cause we all know dealers really under value cars so the can pass then on themselves to achieve a bit of profit .

    Best to try and sell it privately as your doing now and hope that the right buyer comes looking for the spec that your offer. Fingers crossed it's a bad time for sellers at the mo!

    By the way does anyone wanna buy a 996 turbo!

    Give ya 5 grand for it Charlie ;)
    Now that I'm a grown up I drive a sensible grey 595 Competizione with grey leather sabelt seats and yellow brake calipers. It's jolly nice! It's got a name - ' Razzogrigio' Now with a custom S/S group N style exhaust, black Esseesse wheels and a GTT induction kit, all sitting on Eibach springs.

    Offline MarcoPolo

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    Re: trade car in and they pay off your loan?
    « Reply #22 on: June 15, 2011, 11:15:16 pm »
    Quote
    If the loan was taking out as a car loan with your bank ,then you have to clear the outstanding balance otherwise it might show up on HPI as outstanding finance

    Louise.

    1) A bank loan for a "car purchase" is nothing to do with Hire Purchase, so you can sell or trade the car in without clearing the loan. There will be no finance linked to the car. If however, it's not a loan from your 'high street bank', and you have some sort of HP agreement, that's another matter.

    2) Obviously I've no idea how the sums add up but I imagine G.H. will use part of the value of your Corsa as a deposit on the new car and give you a cheque for the balance made out to you. You can then use this money to clear the loan (if it's sufficient!). It's the same if you were to sell the Corsa to them outright - they'd give you a cheque. For example. Say GH offer you £3k for your Corsa. You could use £1.5k as the deposit on the new car and the remaining £1.5k they give you by cheque to clear the loan (again, if that's enough!!). Obviously these figures are for illustration purposes. Discuss the various finance options with them - a PCP arrangement may be the best way for you to get the A500 on the road.

    If you still want to sell privately, your advert needs a couple of tweaks:

    It's good you are being honest about the speakers, but if it's an 'easy fix', get it done.

    Also, your "no time wasters" comment will put a lot of people off as you sound "difficult" and I am sure you are not. Unfortunately, sellers have to sometimes put up with a few "time wasters". Dealers put up with plenty!

    Good luck  :thumb: