Can I sell a car thats on Finance ?

H

holly23

Guest
My Brother bought a car with AIB finance which he now wishes to sell. There are still payments outstaning on the agreement which he intends to pay but I have been told that he cannot sell a car if it was bought under a finance agreement.
That if he sold the car to a garage and someone wished to buy it through finance it would show up and a potential buyer would not be able to purchase the car.

Is this correct ?
 
It totally depends on the type of agreement you mean by "under a finance agreement". If it's Hire Purchase, then he cannot sell the car does he does not legally own it until he makes the last repayment. Any garage would check if a car is subject to a hire purchase agreement before they buy it.

However, if it's not hire purchase, he can sell the car and do whatever he wants with the money and keep making the repayments.
 
Sorry I wasnt' clear on that...no it wasn't on HP......
Will pass on the info.
Thanks moneyhoney
 
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