Sell your car with webuyanycar.com and we'll be able to help you settle any outstanding car finance and give you the remainder (if there is any) straight into your bank. Don’t forget, with a HP or PCP agreement you have to settle the finance on the car or terminate the agreement by paying off the remaining value before you can sell the car on. At webuyanycar.com we can help you do this.
All you have to do is get in touch with your finance company and ask them for a “settlement figure”.
By law your lender has to post a settlement figure to you within 12 days – most times it comes straight away.
You will have a period – usually 10 days – in which to actually pay the amount off. If you pay by Direct Debit (DD), check the day it normally comes out of your bank – if they receive this amount before you settle the finance then you’ll need to take the DD amount off the amount you pay. You will need to provide evidence of payment to us if this is the case.
The short answer – mostly – is yes, you will save money by paying off your car finance agreement early. You get a rebate of interest, an amount laid down by the Consumer Credit Act 1974.
If you pay off early don’t take the whole amount outstanding and send the money – make sure you get your rebate of charges. All you have to pay is a couple of month’s interest and possibly some administration fees but check your agreement for your exact terms.
Yes, you should be able settle off a PCP agreement or terminate it by paying off the settlement figure. Again, read your finance agreement carefully for your exact terms.
You should be able to settle off a PCP agreement. In fact – when it comes to paying the final amount you should really check with us. Many agreements give you the right to give the car back. Don’t do that until you find out how much it is worth. Customers can sell to us rather than hand the car back as they get the additional cash because the car is worth more than the final payment.
In order to get freedom from paying car finance every month on a car where you owe more than its worth, webuyanycar.com can pay off the loan provided you advance them with the exact amount to make up the balance.
In order to settle your finance you’ll find the finance company’s address on the agreement you signed.
Don't forget, with a HP or PCP agreement you have to settle the finance on the car or terminate the agreement by paying off money owing before you can sell the car on to webuyanycar.com (or anyone else) although this can happen virtually at the same time but in that order.
Please remember that you have to get a finance settlement figure in order to sell your car to webuyanycar.com. We facilitate the payment to your finance company for your agreement.