Posts

Can You Scrap A Vehicle With Outstanding Finance?

Image
It is against the law to scrap a vehicle that has finance owing to it . Be it a roadworthy vehicle or a scrapped vehicle, the owing finance must be paid legally to scrap the vehicle in a scrapyard. It is because you do not entirely own the car until and unless you pay back the debt. Hence an  outstanding finance check  will help you to know if the vehicle has any pending debt on it or not.  Is It Illegal To Sell A Vehicle With Finance Owing To It?   Yes, it is unlawful to sell a vehicle with finance untold by the seller. However, you can still sell a car with finance, but you have to inform the buyer about the pending debt on the vehicle. If the buyer still wants to get the vehicle with the finance, he has to take some legal actions with the finance company and own the vehicle after settling the pending payment. However, it is a risk factor to get a finance vehicle. Thus it is essential to check outstanding finance on the car   before buying any used vehicle. How To Check If The Car Is