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If your van currently has existing finance, the lender is usually the legal owner of the vehicle (for example, under a Hire Purchase agreement) until the full balance is repaid. If you plan to sell your van or upgrade to buy another, the finance agreement will need to be settled first by requesting a settlement quote from your finance provider.
To get this, simply contact your finance company and request your settlement figure. They will provide the amount required to clear the finance, along with a timeframe in which the payment must be made. Once settled, you can move forward smoothly with selling your van or buying your next vehicle with confidence.
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.
Do you feel ready to sell your used van today? Does it feel like the
right time for you to buy a new used van? Then don’t delay, contact us at
Van Force today. Our Dedicated Team Is Looking Forward To Helping You move Forward, With Your Van Journeys.
