Selling a motorhome with outstanding finance
Finance on a motorhome is completely normal and it doesn't stop a sale. What it does mean is that the agreement has to be settled as part of the process, so the finance company's figure needs to be part of the conversation from the start.
This page explains how settlement generally works. Exactly how your agreement is handled, and when any balance reaches you, is confirmed with you before anything is signed.
Why it has to be dealt with
Under most hire purchase and conditional sale agreements the finance company retains an interest in the vehicle until the agreement is settled. That interest is recorded against the registration and shows on a standard vehicle history check, so it cannot simply be ignored or sold around.
Get a settlement figure first
Ask your lender for a settlement figure — the amount to clear the agreement today. It is not the same as adding up your remaining payments. Settlement figures are usually valid for a limited period, so note the expiry date when you request it.
- The lender's name and your agreement number.
- The settlement amount and the date it is valid until.
- The type of agreement — hire purchase, conditional sale, PCP or a personal loan.
A personal loan is different
If you borrowed unsecured — a personal loan not tied to the vehicle — the motorhome is yours to sell and the loan is separate. Tell us either way, so nothing surprises anyone late in the process.
Positive and negative equity
If the agreed value is higher than the settlement figure, the difference is your equity. If it's lower, the shortfall has to be covered for the agreement to be cleared. Neither situation is unusual and neither is a reason to hold off enquiring — knowing the numbers is better than guessing at them.
How it works with us
- Tell us there's finance when you request your valuation.
- Request the settlement figure from your lender and send it over.
- We confirm the position with you before anything is agreed.
- The agreement is settled as part of completion, with the balance going to you.
Once we have your settlement figure we set out in writing who pays the lender, when, what happens to any balance due to you, and anything you need to sign — before collection is arranged.
Related
The paperwork guide lists everything else worth gathering, and you can flag finance in the valuation request.
Finance outstanding? Still worth a conversation
Tell us about your vehicle and our buying team will come back to you about a possible offer. It's free and there's no obligation to sell.