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What is an outstanding finance check?

Checking outstanding finance on the car clarifies if the money is owed to the vehicle. The report reveals the finance agreement details if the car has or it shows a green signal to buy a used car with peace of mind.

One in three used cars has an untold history; thus, check whether the vehicle has outstanding finance or other issues. It is better to check the car history before you decide to purchase.

Should you bother with it?

There is a chance of losing the vehicle after purchasing a financed car when you can't be able to repay the debt amount. It is because you are liable for repaying as you are the current owner. Also, you can't get the ownership until settling the debt amount.

Is it illegal to sell a car with outstanding finance?

Selling the financed car is an offence and is against the law. If it happens without informing the buyer, then the finance company has the right to repossess it. Suppose the seller informs the outstanding finance on a car, then it is your choice to proceed with.

  • Ask the seller to repay the vehicle debts and later think about purchasing it.
  • Or, if you can manage to repay the debts of the vehicle, know what type of finance agreement and follow the finance company procedures.

There is no free outstanding finance check as it is important to decide the seller's trustworthiness and the vehicle's worth. So, don't believe the ads showing “you can check if the car is financed for free.”

What is included in the outstanding car finance check report?

Buyers are likely to buy a car through financing. However, the real risk is paying for the used car, which already has outstanding debt. A vehicle finance check helps the buyers pay for the right vehicle. The Auto Experts full check report tells you the name of the finance company, agreement details and contact number.

These details help you to visit the finance company to resolve the issue directly, or you can walk away from the deal.

What is included in the outstanding car finance check report?

No, it's unlawful in the UK to buy or sell a car having debts pending against a finance company. If you purchased the vehicle unwittingly, you must settle the remaining debts as soon as you become the vehicle's registered owner. The car belongs to them as the legal owner until all money owed against it has been settled up. Know how to avoid buying a car with outstanding finance.

What's more?

It is okay to spend a few pounds on your huge investment. Other than the outstanding finance check report, you can also find the following:

  • If the vehicle is a write-off
  • Reported as stolen
  • High-risk, if any
  • Mileage discrepancy
  • Cloned plates, if any
  • Check the valuation
  • Car scrap check

Frequently Asked Questions

By knowing the VRM, you can get the free vehicle history report from the website. Just enter the registration number and get the primary information of any vehicle.

If you are buying a used vehicle, then there are chances that it may have hidden issues. Carrying out the vehicle history check will help you see if the vehicle is clocked, stolen, written off, scrapped, outstanding finance, mileage anomaly and so on.

You can get the cheapest report for only £8.95. We strongly recommend carrying out the full car history check before purchasing a used car so that you can invest your money in the worthy vehicle.

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