I'm seriously considering seeling my S4 in favour of a much cheaper run about oil burner

The problem is that the trade in prices I'm being quoted are ridiculously low and so I am wanting to sell privately.

Should I settle the finance before trying to sell the car (would require a bank loan to do this) or should I sell the car and use the proceeds to settle the finance?

I await the collective wisdom of the forum with interest

TIA

Jonty Current: I can't say...Oh the Shame!
Gone: 2003 Audi S4 - 340BHP of Fun
Gone: 2005 RRS SE, Silver, Chrome Mirrors, Tinted with a stupid spare wheel!
Gone: Audi A4 2.5 TDi Quattro 180bhp
Gone: BMW 535i
Gone: 1985 Audi Quattro
Gone: Subaru Imprezza Turbo (rubbish)

Surely you would need to tell the buyer about the outstanding finance. And then who would buy a car with outstanding finance???

As above......anyone buying a car privately will undoubtedly do a HP check to see if any monies owed and will not touch with finance outstanding.....

Best thing is to get a loan with no early repayment penalty and pay the loan back swiftly when you sell the S4

And FWIW, I reckon a 2003 S4 in good nick with average miles should fetch around 12K

So fay you're confirming my initital thoughts......

@JF think you're more or less bang on the money will try and sell slightly higher though as below average mileage, excellent nick and lots of extras

Talking to the bank now about a short term loan with no early repayment penalties  Current: I can't say...Oh the Shame!
Gone: 2003 Audi S4 - 340BHP of Fun
Gone: 2005 RRS SE, Silver, Chrome Mirrors, Tinted with a stupid spare wheel!
Gone: Audi A4 2.5 TDi Quattro 180bhp
Gone: BMW 535i
Gone: 1985 Audi Quattro
Gone: Subaru Imprezza Turbo (rubbish)

i've bought cars before on finance,you could explain to potential buyer their is finance owed on the car,but it is less than you are selling for,all you have to do is phone finance company on day of sale then he or she pays the finance company money owed with card,then they give you the differance.
hope this helps.

andy. Gone,,TDV8 arctic frost,black leather,colour coded handles,rear entertainment,sunroof.
1980 Rolls Royce,shadow 2 in white.
Gone 07/57 TDV8 santorino,black leather.chrome handle's/mirror's.
Gone 02/52 FFRR vogue.

Yep, this isn't a uncommon situation and the buying can settle with the finance company directly so that they know it has been paid off. WINNER - 2009 ‘Just Doing What It’s Designed To Do’ Award

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