Car Outstanding Finance Check

Enter Reg Number to Check If A Car Has Outstanding Finance

How to check if a Car is on Finance free?

Outstanding Finance Check helps you get a grasp on the leftover money which needs to be paid by the car's current keeper to the lending company. Until the full amount is paid, the car is owned by the finance company, in some cases, the owner of the car is different from the keeper, the keeper is usually accountable for handling the car's expenses.

Before buying any used vehicle, it is important to get a vehicle finance check, this helps in ruling out any problematic issues that could make you lose money and the vehicle. It is common to have issues when you are buying a used vehicle, but that is why we are here to help, get a vehicle finance check to learn about your used car and what you can avoid.

Buying a car with outstanding finance

It is important to understand that the vehicle's legal owner will be the lender who has arranged for the finances, in the situation where the borrower is unable to payback the outstanding finance then the lender remains the vehicle's owner. It is suggested to obtain a car finance check before purchasing a used car, this can help avoid issues relating to finance.

Buying a vehicle without thorough research could ruin your peace of mind, learn about the outstanding finance before buying a used vehicle. If the outstanding amount hasn't been settled yet, then the finance agency can legally claim the vehicle, meaning that you could lose the car and the money you invested.

Things to do when there is outstanding finance on a car

The car outstanding finance check helps you by giving relevant data to ensure that the car you're buying is authentic, it includes a v5c check along with the last 5 numbers of the VIN. Even if the ownership changes the car will still possess the finance that needs to be paid so don't buy a car without checking its financial status firsthand, don't risk yourself by being unaware.

We always recommend everyone to check before you buy, get simplified checks from CarDotCheck.

How can car finance be cleared?

Car Finance can be cleared by asking the dealer to compensate for the asking price or settling the finance amount before selling the car to you, never take ownership of a car that has outstanding finance without a written affirmation that assures the seller as the person responsible for completing the payments.

Types of Outstanding Finance on Car

Hire Purchase Car Finance

Insurance company or lender may claim the car if the car owner hasn't paid off the loan. They have rights to recover the car.

Conditional Sale Finance

Car Owner pays a deposit for the car at initial stage of the agreement and pays installments every month till end of agreement.

Credit Sale Agreement

A discount is given if car owner pays the complete installment amount within the given period of time otherwise the discount will be ruled out.

Lease/Contract Hire

Full ownership is given to the car owner who works in the lender company until the settlement amount is cleared off.

Personal Loan (Car Loan)

It is an amount offered by a Bank or by a society to manage the financial needs to share the cost of a car.

Personal Contract Purchase Plan (PCP loan)

This is similar to renting a car using an amount till the end of contract. At the end of this contract, you can return the car or retain it by calculating the resale value.

Unit Stocking Finance

A type of credit finance used by car dealers to fill their premises with loads of cars. These arrangements are made with car makers and banks.

Check if car has finance with CarDotCheck

  • We provide updated records about pending finance and other details.
  • Check the finance status of your used car, since it is rather common.
  • If Finance is unpaid, ask a better selling price for compensation.
  • Get a car history check to know about outstanding finance, and much more.
  • Buy a used car from a well-respected, reputable dealer. Private sale may appear cheaper but it doesn't come with a guarantee.

Compare price with several car buyers and over a 1000+ dealers before you

Frequently Asked Questions (FAQ)

To be eligible for car finance, it is necessary to have a good credit score so that the finance agency can lend the money to you in good faith that you can pay back the amount in due time, your job position along with your ability to pay is screened before giving you the loan.
It is important to know that you can't really sell a car without telling the buyer that the car is on outstanding finance, it is possible to trade the car if the finance status has been conveyed, if you can work out a deal with your buyer then you can trade a car with outstanding finance, and if you are a buyer, you can ask for compensation from the asking price.
There are companies that buy cars with outstanding finance, they act as mediators and sell the car on your behalf where you would have to find the valuation from them and then the settlement figure is paid off to the lender, with any excess being given to you.
When you part exchange your car, you are essentially cutting off an extra step of a private sale because your current car is sold for its value along with the outstanding finance to pay for the new car in question.
It is possible to check the financial status of the car and find out the agency that owns the car along with the contract details which you can get from a complete car check, using the details you can find the finance left on the car.

Check If A Car Has Outstanding Finance

Know Outstanding Finance Details of your car

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