Car financing UK

Questions and Answers

Selling a car with outstanding Finance (UK)?

Q) Hi all, am looking to sell my car as moving to London from the sticks and my car just won't be practical. Anyone sold a car with outstanding Finance, Tips/hints also for private sale. Your assistance is most appreciated. As far as I was aware if you inform the Finance company they can give you permission to sell.

A) if u've setteled more than 2/3 of overall ammount to pay back (inc interest) then they can not by law reposses your car even if u sell it! if u ring them they'll prob make an agreement with u any how

Swapping my financed car for another.UK?

Q) Any chance I can swap my car that is on finance for another one that is slightly older?How.

A) Take out a loan (that is not related to the car) or mortgage for the cash amount needed to pay off the car and it's yours. You can now do what you want with it. Another option is to have a word with the company that financed the car and see if they are willing to transfer the loan to the other car. Also read the small print in your finance contract. It will most likely tell you exactly what you can and can't do.

what is yahoo finance premium?seller for car in uk want me to use this for payment and shipping? please help?

Q) the seller is in the uk. and wants me to pay for the car by yahoo finace premium. is there a PH# for them or is this just a scam?he also stated they would handle the shiping for around $1000.00 please help!!!!

A) Shall I compare thee to a summer's day? Thou art more lovely and more temperate: Rough winds do shake the darling buds of May, And summer's lease hath all too short a date: Sometime too hot the eye of heaven shines, And often is his gold complexion dimm'd; And every fair from fair sometime declines, By chance or nature's changing course untrimm'd; But thy eternal summer shall not fade Nor lose possession of that fair thou owest; Nor shall Death brag thou wander'st in his shade, When in eternal lines to time thou growest: So long as men can breathe or eyes can see, So long lives this and this gives life to thee.

does anybody know what the web address is of:The UK Fast Car Sales Company.London EC1 V4PY 0870 871 0350?

Q) They are a finance company that specialises in financing secondhand cars.They respond to Autotrader adverts and cold call sellers offering a service to match prospective buyers with advertised cars. This they do for a fee of £41-50p giving back £30 a sale. I need to check the company out before parting with any money.

A) The website: www.ukfastcarsales.com situated in St. Johns Street (Clerkenwell - London) just below Islington Just browsing Yahoo australia as we have friends there keith.bewley@ntlworld.com (In the Uk) As it was a mobile number I gave them a telephone call for you

Anybody bought a car from this company in the UK?

Q) Hi, came across a website selling cars on a finance basis but interest free. Has anybody bought a car from www.interestfree4cars.co.uk If yes, what has been your experience?

A) They just jack the price of the car up beyond it's true market value just so you can be presented with a finance document that has 0% printed on it. Compare the monthly payments on a car with a local dealer. It won't be any different. If it looks to good to be true its because it is.

UK only - where can I get a car on finance if I have a provisional license and work full time?

A) Anyone can buy a car on finance providing you satisfy the finance co. requirements, but why are you buying a car when you can not legally drive it?

Does a UK company offer a personal contract purchase ( PCP ) finance loan to buy a car abroad such as the US?

Q) My current car was purchased using a PCP finance loan and its superb so ideally would like to use it again on my next car in the coming months. I would like to buy a 2005 Ford Mustang GT from an offical US Dealer and then import it myself as I'm a UK resident (have been since birth). I have seen many companies offering a PCP in the UK but only by selecting one of their cars I don't want to do this and instead would like to source the vehicle myself. Does anyone know if there are specific companies which cater for this?

A) most of the finance companies will, HSBC, lloyds TSB etc... ask your local car dealer for a quotatation on a PCP then take the PCP info away and contact the finance folk direct....

Moving to France - Question about my UK car?

Q) What can I do about my car that I have purchassed on finance 12 months ago. Is it worth taking it to France, can I return it, what is the best option I have.

A) Sell it and then pay the difference. That will be a fair amount which is probably justice as you have said some terrible things about the McCann's on yahoo.

If you have a car on finance can you scrap it or do you need to inform them and settle in full?

Q) I live in the UK, bought a car on finance 3 1/2 years ago but its timing belt stripped (2nd time since buying it) and caused over £1000 of damage and I cant afford repairs but unsure how I stand with finance company if I scrap it as I still have 7 payments to make but cant afford to pay it all at once. My car is in storage at present but cant leave it there for 7 months.

A) In theory until you make the final payment to the finance company they still own the car. You can't legally scrap a car that isn't yours. When you make the final payment they release claim against he vehicle then you can scrap it.

Car Finance for Bad Credit History?

Q) In the UK where is the best place to get Car finance when I have had previous Credit problems? So many you see on the internet but not sure where to go. Alternatively whats the position if a relative to buy the vehicle on finance but for me to Insure it??

A) By previous credit problems, I guess you mean that you don't pay your debts. Plenty of places will give you credit - they'll just charge you a higher rate of interest to reflect the bad risk they're taking on. They are all much the same - they won't break your legs, but won't think twice about sending in the baliffs if you miss payments. If a relative buys the vehicle on loan, they are solely responsible for the payments. You can be the keeper, insure it, drive it - that's all legal. You have to put yourself in the position of the relative - would you trust you to keep up the payments, knowing of your past history?

has anyone got car finance from car craft in uk? what did you think?

A) dont do it, its a part of yes car credit and we had alll sors of probs with them,its justnot worth it,car we got was an astra an should have only cost ten thou but with finaces and everything it worked out at nearly 55 thou,dont let them con u

can i get car finance with bad credit in Hull UK?

Q) i was in debt but i have paid it all off but my credit is still bad is there any companies out there willing to give me credit even though i have only been employed since feb.

A) You CAN get a decent car loan, even with bad credit. I've done it, but you'll have to look around. That's one of the BIG mistakes people make...just taking the first offer that's given to them when they go to the dealer. Be smarter than that. WARNING: DON'T GO TO BUY A CAR WITHOUT HAVING THE LOAN FIRST. The auto dealers will eat you alive and give you a crappy rate. Shop around with lenders who specialize in bad credit car loans. It's a better option, you don't have to take what they're offering if you don't want it, and it's better than dealing with the car dealer's people. There are usually some nationally based car loan companies who specialize in bad credit car loans who advertise on the page linked below... http://www.axalda.info/bad-credit-car-loans.html

in the UK, if you sign a car over to someone,is that person liable to pay the finance on it?

Q) My friend is in a very tricky situation, her boyfriend is in a spot of bother and wants to sign his car over to her so that bank debt collectors cannot reposes his car, he has the car on finance but that is covered to her knowledge by insurance so that in the event of losing his job the finance company will freeze his interest and the payments so the car is safe in that aspect. If the car is put in her name will she have to pay anything? because she doesn't want people knocking on her door looking for money and she doesnt want to break the law. thank you very much for your time :)

A) From what I have seen on this site, things are a tad lunatic in the UK, but normally if there is financing on a motor vehicle the bank will retain the title to the car until the loan is paid. This means her boyfriend will not be able to sign anything over because he has nothing to sign over. He has physical possession of the vehicle for as long as he continues to make payments on it, but if he stops making payments the bank will repossess the car. If a debt is unpaid on a car it can be repossessed regardless of any sort of spot of bother anybody happens to be in and since he does not have title he has nothing to sign over.

A guy in the UK said I could buy his car using Yahoo Finance. Is there such a transaction?

Q) I'm here in the US and the car's in London. Yahoo sends him my money after I receive the car and have it inspected per my OK and then he receives the money for the car once I approve it. I've never heard of this deal and can't find it anywhere on the Yahoo web site. Is it a scam maybe?

A) RUN AWAY! Why would you want to buy a vehicle from someone in another country? You send the money to this special place and never see car or money ever again.

I saw a car on ebay located in the UK that I want to Purchase. I have been instructed by the seller to send?

Q) money via western union to Yahoo Finance agent Steve Sadler, 19 Midland Road, Bedford UK Yahoo Finance Invoice ID 738120065 Is this ligit? please advise if you know. Clayton Porter 912-635-9330 or rbmllc@bellsouth.net Thanks

A) It's a scam man I buy and sell cars off ebay and I see those scams all the time, Dont buy anything out of this country or you will be sorry.

Can a UK citizen who has immigrated to the USA buy a car in Georgia without a green card?

Q) I am a UK citizen who recently married a US citizen and we both live in Atlanta, Georgia. I have a work permit and a SSN and am in the process of having my status changed to permanent resident when I will receive my green card. I can't take my Georgia drivers licence test until I have my green card so I am driving on my UK licence, which I can do for 12 months from date of entry into the country. Yesterday, I went into a car dealership and asked to test drive a car. I was told that they couldn't let me do that as I didn't have a Georgia drivers licence and their insurers wouldn't allow it but they took me for a drive around the car park. They then told me that, even if I liked it, that they couldn't sell it to me because I don't have a Georgia drivers licence. They seemed concerned about me getting finance without a green card but I told them that I could pay cash. They still said that they couldn't sell me any car because my drivers licence was needed for them to register it. I told them that my husband could do that and they said that that would be a 'straw purchase' and because they knew that the car would really be for me, that it would be illegal and that they would refuse to sell it to me. I was amazed and I felt like a criminal. My question is: can a UK citizen buy a car in Georgia and get it legally registered with a UK drivers licence? I would greatly appreciate feedback on this as it seems incredible that I cannot buy a car here even though I am legal to drive for another 3-4 months.

A) That dealer doesn't have a clue! 1. You don't need ANY license to buy a car. PERIOD! 2. You only need a valid license to drive a car. Your UK license IS valid. 3. You don't need a drivers license to register a car, only to drive it. 4. A husband purchasing a car for his wife is NOT a straw purchase. 5. You do NOT need a green card to get financing. Simply ask the dealer to show you the relevant sections of the law on these issues. They won't be able to since they don't exist. Or better yet, find a dealer who knows what he's doing. Your are mis-informed about the GA drivers license. Although many states require legal status to get a license, your work permit and SSN confer that. You do NOT need a green card! Here's a link to the GA drivers license manual. Page 18 clearly states the legal status requirements for non-US citizens. http://www.dds.ga.gov/docs/forms/FullDriversManual.pdf

I am contemplating to purchase a car from a guy in the UK. He wants to use Yahoo!Finance. Do you offer such?

Q) Is this legitimate or is it a scam? I am familiar with Paypal and other such services, but have never heard of Yahoo acting as a third party in transactions. He claims it will protect both him and I. I'm unable to find any link on the Yahoo page, which makes me wonder if this is legitimate or a scam. Would appreciate if anyone have experience with this.

A) Yahoo Finance is http://finance.yahoo.com/ But it has nothing to do with buying a car. Don't do it.

please help.what is yahoo finance premium?seller in uk wants me to use this for pmt and shiping.is this a scam

Q) trying to buy a car from seller in uk says he wants me to pay for the car thru.yahoo finance premium. cant find out anything. please let me now..

A) Be careful, unless you have money to lose. You could probably fly to vegas and go on a gambling spree, and fly back and still be ahead.

I am selling a car online, the person is having a transport company ship it to the UK. How do I transfer title

Q) The man I am selling it to will never be here in person. After I get the payment from him I will send it to my finance company, and they will send me the title. Do I just sign it and have it notarized, then send it to him? How do I go about that? if it's a cashiers check shouldn't it be guarenteed that it will clear? If he tells me to wire anything back to him I will definatley not do it. But just in case this is legit, how do I transfer the title?

A) Make sure you don't have to wire him any money for shipping. I had a guy buy something from me. He sent cashiers check (bogus). Made it for extra thousand and then he wanted me to wire it back for shipping. I caught onto the scam.

If i get a loan from my bank to buy a car, would i need to have full (comprehensive) insurance?

Q) Say i got a £2000 or £3000 loan from my bank and used it to buy a car, would i need to carry comprehensive insurance? Because i know that some finance companies, if they finance you buying a car, you have to have full cover. I only want third party fire and theft (UK!!!)

A) No. A loan is not an HP Agreement. so if the car is destroyed and your insurance doesnt cover the accident. you still have to repay the loan.