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Selling a financed van.

  • 08-04-2019 7:40pm
    #1
    Corkcarpenter1
    Registered Users, Registered Users 2 Posts: 5 ✭


    Hi guys,
    So I was self employed for 4 years. In january 2018 my van broke down and needed a lot of money to fix it. I decided to change and buy a new one. I bought a 181 VW Transporter. It cost 29,500 inc VAT. It's a lovely van and beautiful to drive and I love it. My problem is in February I was offered a good job. I hadn't planned on closing my business but it was an exciting oppertunity and I accepted. I now have a shiney new van in my driveway that has 14,000 owing on it and is costing me 380 a month. The company I'm working for have given me a car so the van doesn't budge. It's a shame and I don't want to let it rot in the driveway whilst paying for it. So my question is how do I go about selling it? Do I need to go to the bank and borrow 14,00 and clear the finance?

    Thank you in advance for anyadvice given.


Comments

  • #2
    mickdw
    Registered Users, Registered Users 2 Posts: 23,688 ✭✭✭✭mickdw


    You might find it easier to sell if you did clear the finance however you can advertise and when you get enquiries, show them a copy of settlement letter from bank detailing amount owed.
    Some buyers will go for it if they can make payment direct to bank for the settlement amount but many will run away too.
    You could ask vw if they would make an offer to buy it. It would be trade price but would still leave you with cash in hand once cleared.


  • #3
    ELM327
    Registered Users, Registered Users 2 Posts: 22,639 ✭✭✭✭ELM327


    Clear the finance or no one will touch it


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