Outstanding Finance Check
Enter your registration number and check for outstanding finance
Check if a vehicle has outstanding finance
Have you ever thought about buying a new vehicle, only to find yourself doubting the status of your vehicle’s finance? Buying a car that has outstanding finance can come with numerous potential challenges and complications, and it’s crucial to keep this in mind before you rush into the purchase.
However, if you’ve been struggling to determine whether a vehicle is a good purchase, there are several highly important things you should keep in mind. Luckily, getting a car finance check before you purchase is one of the best ways to make sure your new vehicle is genuinely what the seller says it is.
Car finance check
If you need to check a vehicle’s finance status, one of the best options is simply to carry out a reg check. An outstanding finance check only needs the vehicle’s registration number; once you’ve entered this, you’ll be provided with a run-down of the main details relating to any car finance agreement.
What Does a Car Finance Check Look For?
A car finance check looks for several different things, which can help give buyers confidence in the vehicle they purchase. These include the finance company and contact details and the agreement type, agreement number, start dates, and even the number of finance agreements currently active on the vehicle.
Additionally, our finance check includes details such as agreement date, number, term, type, and finance company information.
Frequently asked questions
An outstanding car finance check is an assessment of a vehicle’s financing history to check whether or not the car has any past finance still active. The car finance check provides several details about the finance agreement, including the company that provided the finance, the agreement date, the term, and the type.
If your car has outstanding finance, you must pay this off before you can sell the vehicle. Unfortunately, you do not own the vehicle outright if it still has finance, so you will need to pay this off before selling the car. If the car is sold, the buyer will become responsible for the finance itself.
If you have accidentally purchased a car with finance, don’t panic. You will need to contact the finance company to arrange repayment of the outstanding debt; you may also want to get further support depending on your rights as a buyer if the car was missold to you. Citizens advice can be a helpful resource in this regard.
Before purchasing a new vehicle, it’s crucial to check that the car doesn’t have outstanding finance. This is because you will become liable for the finance if you purchase the vehicle.
If you have purchased a new vehicle that still has finance on it, you will need to contact the finance company to arrange how to proceed. Indeed, if the car has outstanding finance, the seller likely did not have full authority to sell it – and so, you will be liable for the finance until it is paid off.