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Car Finance Expert Q&A

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Edwin Miles. Underwriting Manager

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Can you hand a car back to the dealer?

Hi, my friend bought a car on finance 4 months ago and she used her old car as part payment.

Her circumstances have changed drastically and she needs to sell her car back to the garage. Is this at all possible? She is totally stressed out and making herself ill and she needs to know if there is anyway of sorting this out. Can you give any ideas of possible options?

I would be really grateful, I'm really worried for her! Any help you can give is more than appreciated. Thank you

Posted by Caitie on


Hi Caitie, thank you for your question and sincere apologies for the delayed response.

I'm sorry to hear about your friends situation but you wouldn't be able to hand the car back to the dealer. The car is now actually owned by the finance company until all the finance payments have been made.

Your friend could sell the car back to the dealer however, she would get a great deal less for the vehicle than what she paid for it. You do mention that your friend used her old car as a part exchange so hopefully she won't be in negative equity.

The next steps are to get a bid for the car from a local dealer or to try and sell the car privately. Next you need to speak to the finance company to see what amount is outstanding and what needs settling off when you sell the car.

I hope that your friend gets her situation sorted out and in the future if you or anyone you know needs car finance please make an application with us. We can beat car dealer rates and once accepted we provide a no obligation quote and you can buy a car from any dealer. Kind Regards, Edwin

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