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If your van currently has existing van finance, then the lender is the legal owner of the van bought on Hire Purchase, until all payments have been made. In order to sell the van, you will need to end the agreement early by getting a settlement quote. To get a settlement figure, you will need to contact the finance company and ask for one. You will receive a settlement figure from the finance company, and will then have a set time period to pay the amount stated.
You can still sell your van to us at Van Force, but only if the van has positive equity. This is when the amount of finance you have left to pay on your van is lower than the current value, of which we have offered you.
For example: If your van is valued at £6000.00 but your settlement figure amount is £4000.00, you have £2000.00 positive equity. This means when you sell a van to us, the settlement figure of £4000.00 will be paid directly to the finance company, to clear the outstanding balance. You will then receive the additional positive equity of £2000.00 which will be transferred directly to your bank account.
If your outstanding finance settlement figure is higher than your vehicles valuation (negative equity) then we will be unable to buy your van.
We will pay the finance settlement on collection of your vehicle and settle any remaining proceeds with you, which will be sent to your bank account, to complete the sale of your van.
If your van has positive equity then contact Van Force today and let us help you. Our dedicated team is eager to assist you and ensure that your van selling experience is nothing short of exceptional.
