Sell my financed car the Motorway way

    84% of Motorway customers get more money*. Get more for your financed vehicle.

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    How to sell your financed car

    Finance or no finance, it doesn’t have to be hard work to sell your car. Once you have your settlement letter, and an accurate valuation for your car, you can proceed to sell your car on Motorway.

     

    • From start to finish, you can sell your financed car with Motorway from your phone. It’s quick, convenient, and always free!
    • Enter your reg and mileage to get an instant, free valuation based on live market data.
    • Profile your car using our smart photo app for hi-res photos that show off your car at its best.
    • At the end of the daily online sale, we’ll send you the best price offered by one of over 5,000 verified dealers from around the UK.
    • With your financed car’s paperwork checked over, all that’s left to do is arrange your free home collection with your car buyer, to complete the sale.
    • You’ll get the finance cleared for free by your purchasing dealer, without hidden fees, plus any surplus straight to your bank account.

    Why sell your financed vehicle with Motorway?

    Motorway is a safe and trusted platform, where you can sell your financed car. You’ll get a fair, honest deal reflecting the real market value of your car. Don’t just take our word for it:

    • More than 250,000 customers have sold their used car the Motorway way since 2017.
    • We’re recommended by AA Cars, WhatCar?, Parkers, Confused.com, Octopus Electric Vehicles and Moneysupermarket.
    • We have over 51,750 Trustpilot reviews and are rated ‘Excellent’.
    • We work with many of the UK’s top national dealership groups, including Evans Halshaw, Sytner, Jardine, Vertu Motors, Inchcape, and many more.
    • We’ve won Motor Trader’s prestigious Online Used Car Trading Platform of the Year award in both 2021 and 2022.

    Ready to sell your car?

    Selling your finance vehicle on Motorway is quick and simple to do on our app or website.

    Create a vehicle profile and more than 5,000 verified dealers from across the UK will compete to give you their best price to buy your car.

    Approve your highest offer, and the winning dealer will collect your car for free and make a fast payment.

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    sell any brand of finance car

    A dealer for any brand of financed car

    We can help you find a dealer that will want to buy your finance car. The dealers in our nationwide network will buy cars from all diesel manufacturers. Including: Mercedes, BMW, Vauxhall, Volvo, Renault, Land Rover, Alfa Romeo, Toyota, Nissan, Ford, Volkswagen, Skoda & more.

    We can help you sell your finance vehicle today. Our network of dealers buy a wide range of diesel cars of all makes and models from all the top brands.

    value your financed car

    Value your financed vehicle

    The first thing to do, no matter what, is to get a current, accurate valuation for your car. At the same time, ask your lender for a ‘settlement letter’ so you know how much money is outstanding on your car finance contract. If you sell the car in positive equity, e.g. when it’s worth more than your outstanding debt, you’ll keep the surplus from the sale. If it’s in negative equity, you’ll have to pay the difference.

    Either way, when you sell your financed car with Motorway to a verified dealer, they will clear your finance when they complete the sale of your car. You’ll get instant payment of any surplus straight into your bank account, for free.

    dealers bidding for a car on sale

    Over 5,000 verified dealers across the UK

    Over 85% of cars in the UK are purchased using a finance agreement. What most people don’t know is that, as well as selling their car at the end of a financing agreement, they can also sell their car with remaining finance. Motorway will help you sell your financed car within our UK-wide network of over 5,000 verified dealers, legally.

    When a sale is agreed, the dealer will clear the remaining balance with your lender, and you’ll keep the change. The best part: selling your financed car with Motorway is 100% free – without any hidden fees, commissions or charges! Read on to learn more about selling your car on finance.

    Rated ‘Excellent’ on Trustpilot with over 50,000 reviews

    Sell my car frequently asked questions

    Commonly asked questions about selling a car on finance

    Can you sell a car on finance?

    Yes! Motorway works with over 5,000 verified car dealers who are all experienced in buying used cars on finance. The dealer will pay off any remaining finance on your car when they purchase your vehicle. Just let your finance company know you’re looking to sell your car to receive a settlement figure.

    Legally, your finance will have to be settled before you can sell your car to another owner, whether to a dealer or a private individual.

    If you are selling your car privately, you will have to pay off what you owe first.

    Is it illegal to sell a car on finance?

    If you try to sell your car to anyone knowing there is outstanding finance on it, and without making buyers aware of it, this is illegal. Once the deception is uncovered, you’ll likely be made to pay back what you owe to the finance company, and if it evolves into a legal battle, you will also owe money to the buyer and may even risk action by the police.

    Will you go to prison for selling a car on finance?

    It’s unlikely you’ll face a prison punishment for selling a car on finance unless it can be proven that you were trying to defraud the finance company. More often, it is a civil issue but that still means hefty fees for you, including paying what you owed on the car moral of the story, don’t try anything underhanded.

    How is outstanding finance paid off when I sell my car?

    Yes you can. Legally, your finance will have to be settled before you can sell your car to another owner, whether to a dealer or a private individual.

    Clearing outstanding finance with Motorway is easy and dealers we work with clear finance all the time.

    Once you have chosen to proceed with your highest offer on Motorway, the buying dealer will need to see a finance settlement letter to clear the finance. The dealer will pay off the finance as part of the purchase and you keep any remaining funds. Payment is sent fast, straight into your bank account. It’s a simple process and we guide you every step of the way.

    What happens if I buy a car with outstanding finance?

    If you end up buying a used car and had no idea there was finance outstanding on it, then you have the right to keep it, this is known as “good title”. But the finance company will still want to be paid and that means they will likely chase you to make sure you are the innocent party.

    Unfortunately, it’s down to them to decide if you really have good title or not, so if they decide that you are responsible for paying off the outstanding finance, then you will have to escalate the issue to the Financial Ombudsman or seek legal advice.

    Will a car dealer settle my finance?

    Yes, many dealers and car buying sites will be happy to settle your outstanding finance for you based on the sale of your car. Whether you pay your settlement figure yourself or want a dealer to facilitate this, you’ll still need to inform your finance company of your plans to sell. 

    How do you sell a car privately if it’s financed?

    If you choose to sell your car privately, then all your finance will need to be paid off. If you try to sell your car to someone without letting them know you still owe money on it, you are acting illegally.

    What is ‘voluntary termination’?

    Voluntary termination is when you ask your finance company to end your finance payments early. This is usually only possible if you have paid over 50% of your owed amount off. There are a few other key things to keep in mind, too:

    • Due to interest rates and fees, reaching the ‘50% paid’ checkpoint of your finance plan won’t be the same as reaching the halfway point in terms of date, i.e., it may take longer than you think
    • You can request voluntarily termination at any point after 50% is paid off, but you won’t receive anything like a refund on interest if you choose to request it at, say, 70% paid-off
    • You will be able to end your payment plan early this way, but you’ll still have to pay the outstanding balance 

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