At Motor Range, we understand that many of our customers are unsure about selling a car that they still have finance on. The good news is that you can sell a car on finance and upgrade to a newer model without any hassle, thanks to our efficient and hassle-free process.

Here’s how it works:

You do not need to wait for your finance agreement to end before buying a new car. We will settle your existing finance with your finance company and set up a new finance agreement on your new vehicle. We handle all paperwork and send the payment to your finance company.

Selling a car on finance can seem daunting, but at Motor Range, we make it easy for you. Whether you have a personal contract purchase (PCP) or hire purchase (HP) agreement, we can help you upgrade to a new vehicle without any hassle. 

PCP Agreement  

If you have a PCP agreement, you have the option to either hand back the car or make the final payment to own the car outright. However, there is a third option: you can sell the car and use the proceeds to pay off the outstanding finance. This can be a good option if you want to upgrade to a newer model or a different type of car.

HP Agreement

If you have a hire purchase agreement, you can sell the car at any time, but you will need to pay off the outstanding balance first. This is known as the settlement figure, and it includes the total amount borrowed plus any interest and fees. You can find your settlement figure on your finance agreement or contact the lender to find out the exact figure.

Settlement Figure

Once you have the settlement figure, you can sell the car and use the proceeds to pay off the outstanding finance. If you sell the car for more than the settlement figure, you can keep the difference as a cash payment. However, if you sell the car for less than the settlement figure, this balance can be added onto your new finance agreement.

Our Process

We make the process of selling a car on finance and upgrading to a newer model simple while putting your mind at ease. We will handle all the paperwork and liaise with your finance company to settle the outstanding balance. You can then choose a new car from our extensive range and set up a new finance agreement with us.

In conclusion, our experienced and friendly team will guide you through every step of the process, we will settle your outstanding finance, and help you set up a new finance agreement on the perfect car to fit your needs.

With over 1500 cars and a commitment to providing a hassle-free experience, it costs less to change at Motor Range. Visit us today or call 0151 601 8774 to find out more.