Help with selling my car

[nathangallo]

This coming october im thinking of getting out of the GTI   and moving onto something else after 2 years of ownership, always have to do a big ticket purchase for my birthday

Thinking of either a new TT TFSI DSG S Line or Look into a MK6 R.

But my problems lies with my car, Just had a settlement figure from vw and was shocked with how much (little) i have to pay back, it looks like if i got for a private sale it will more than clear the settlement.

How do i go about selling the car with the finance owing as i dont have the funds to clear it myself but i would if someone pays me first, is there a way in which i can prove its secure legitimate deal for the buyer. As i dont want them thinking im going to 'DO' them over as i feel this will scare off certain people.

While were at it just to confirm
3Door Steel Grey Gti
56/06
75,000 miles
New mot Full service history with cambelt and water pump 12k ago.
Would have 6 months tax
3 owners inc me
rcd510
eibachs
freshly refurbed monza 2 in anthracite
full heated leather
sunroof.
in 8.5/10 condition (The usual stone chips on front)

what value would you put on this?

Thanks Gallo

[xjay1337]

Is it HP or a personal loan the vehicle is on?
I sold my motorcycle with a personal loan showing and just kept paying it, the vehicle is not secured by the loan.

If it's hire purchase then it's slightly different.

Have them phone up the finance company and pay them off? In effect that being the "cash"...

[tony_danza]

I've done it 2 ways in the past to settle the finance before selling.

Get an overdraft to cover the settlement, cancel once cleared.
Get a loan, and take advantage of the 'cooling off' period. Cancel and payback.

I've also bought a car with outstanding finance, I paid it off over the phone whilst I was at the seller's house, granted he was a friend of a friend so I trusted him.

[nathangallo]

It is hire purchase on the car. I was thinking of going down the route of getting them to call vw and pay for me then give me the rest, also was thinking of going with the last option call vw whilst there in front of me but that does involve a lot of trust.

I suppose a loan could be another shout.

[neg]

Do what you said there, always admin there is finance and you wont look like you hiding anything - they settle with the finance co and then if there is a difference obviously pay you - same if you traded it in, the garage would only give you the difference and settle the rest with the finance co.

[Horatio]

The wife bought a new polo in 2007 for 10k, drove 8000miles in 3 years and sold it privately. VW wrote to the wife about 2 months before the PCP was up was stating they were going to lower the guaranteed minimum value to 4k, from 6.5k. We sold it for £7500 and paid off the outstanding via a debit card payment and sent the new owners confirmation. Job done. 

[mad_pete]

How can they lower the GUARANTEED future value ?!?

[Horatio]

How can they lower the GUARANTEED future value ?!?

They can and did. It was in the conetract, which they failed to mention 

[neg]

Isn't lowering it good for you in that case, as you owed less?

Still odd his they can lower a guaranteed value

[kahunajb]

Isn't lowering it good for you in that case, as you owed less?

Still odd his they can lower a guaranteed value

I'm assuming at the end of the hire period you have the option to pay off the outstanding balance and keep the car or sell it back to VW at the guaranteed price, you would of course be liable for any difference between the two.

[Horatio]

Isn't lowering it good for you in that case, as you owed less?

Still odd his they can lower a guaranteed value

Yeah, I know what your saying. I think it may have the trade in value come to think of it.