Hi all hope your all enjoying this glorious weather , just a question to members my lease comes to end with vw next March and barring any more major problems with my van I would to buy it it's a 150 dsg lwb kombi in BlackBerry . I've had the oil leaks crankshaft and dsg box all done under warranty so hopefully fingers crossed that will be it for a while . Has anyone used a family member of friend to get round the issue of ownership for payment of balloon and actually owned the vehicle , I'm at a point of life now where I'm trying minimise payments coming out of my bank it does feel like a small mortgage . Thanks for reading
So as mentioned in another thread after looking for a long time for the ideal van I have Finally seen a likely looking prospect. That was until the seller informed me he has remaining finance which he claimed not to be an issue. Now as far as I’m aware you can’t sell a car with finance on it but reading into VW finance lease when I purchase the vehicle I’m actually purchasing it from VW not the owner. To me it sounds legit but I was wondering if others have previously been on the buying or selling end of finance lease. Can anybody advice how to proceed safely in potentially purchasing the vehicle?
If it helps when I part exchanged a CRV for an X3 M Sport..it still had finance so BMW paid off the finance gave me the equity on paper and I paid the rest in cash ,,,
but I’d ring VW finance to confirm your thoughts
When I purchased my van from a private seller they also had outstanding finance, the way it worked with me was I had a written contract that stated the finance will be cleared on day I transferred my funds to private seller and it was all done Vai the finance company's website , so basically they were using my money to clear off the finance , now there is alot off trust involved in this and in my case the seller was selling it from there b&b and was all done in there office so did feel confident in my case bit like a said there is alot of trust involved I also contacted the finance company the next week to make sure it was paid off as it was still coming up on a financial check as having outstanding finance so was a bit worried but all worked out in the end and got a great deal a believe
I bought my last work van (none vw) from a guy who had it on finance, he was upfront about it, I contacted the finance co and they were happy for me to pay his outstanding debt off for him and the rest i paid to him
So it can be done as long as the seller is up front with it, but speak to the finance company and get their agreement as well
So it can be done as long as the seller is up front with it, but speak to the finance company and get their agreement as well
If on a lease. You will get an invoice direct from VW. Which you it them. Then the owner releases the vehicle to you. He may get a rebate of funds from VW afterwards.
So presumably this is safer than a normal private sale?
I’m not sure in what respect you mean safer.
You are essentially doing business with VW rather than a guy on the street
I bought a van from a private seller who had outstanding VW finance, the seller arranged for VW to invoice me for the outstanding payment and after I made a few checks regarding email addresses, account numbers and who’s who I paid. The remaining balance was paid to the seller by BACS. The van was transferred to me with no finance.
I’m sure the process puts potential buyers off but for me it was a good deal.
I’m sure the process puts potential buyers off but for me it was a good deal.
Isn’t it essentially VW’s van? They raise an invoice and I pay VW.
But you still need to do all the relevant checks on the van as you would with a private purchase, which essentially what you are doing, but paying VW.
Buyers beware
Buyers beware
Have to admit as it’s my first van I feel a bit unqualified to weigh up the condition of a van. Don’t suppose anybody can point me towards a bit of a checklist of common faults to check. He has admitted an issue with the fan for the heater. It only operates in 4!
Pay for an inspection. Best money you spend
I wilm confirm that this is correct. I have a T6 Highline 150bhp L32, that I have on a finance lease, which I am currently about to sell on behalf of the finance company.
It is confusing. The way I understand it is that I have a balloon payment at the end of the lease. If the balloon payment is £15k and I sell the van for £20k, the balloon payment is paid and the excess money comes to me.
This is a good idea, as if you look after the vehicle (which I have), it will be worth more & I will receive the difference in balloon payment and the selling price.
So if someone is looking for a t6 that is standard, let me know.
Based in Surrey.
It is confusing. The way I understand it is that I have a balloon payment at the end of the lease. If the balloon payment is £15k and I sell the van for £20k, the balloon payment is paid and the excess money comes to me.
This is a good idea, as if you look after the vehicle (which I have), it will be worth more & I will receive the difference in balloon payment and the selling price.
So if someone is looking for a t6 that is standard, let me know.
Based in Surrey.
I would like a look at your van, send some pics!
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