how do you go about selling a bike on finance

my mum wants me to sell my gilera runner 50cc 07 plate which is being payed for on finance so i can get a 125cc geared bike before i go on to getting my full liscence, how do i go about doing this?

thanks in advance guys

 

a new bike like yours, people will most likely run a hpi check when considering buying it, when the result comes back as its on finance they wont want to buy it, as if you stop paying that they can have the bike taken from them.

i would imagine you can phone the company u are financing from and ask them to end it early and you pay the remainder of money due, however they will no doubt hit you for early payment penalty fee's to cover there admin fee.

 

meaning i could end up only getting as much as i have to pay on finance meaning i lose the bike and gain £0 lol if not lose money! feck

 

+1

Do you know how much you have outstanding on the runner? You could pay that off in a lump sum to the finance company then get it back as soon as the bike is sold. That is if you can't sell the bike first to get the sum to pay off. Give them a call to be sure

 

erm, more than a years worth of paying 100 pounds a month! so i wouldnt get tht back and would be losing money to sell it am i right? this is shite!

 

hi,trade it in at a bike shop.youll still lose on the :msn1: deal but not as much especialy if you get your geared bike from them as well. cheers

 

your never going to make money if you buy a bike brand new

fact.

 

And theres never point buying new as your first bike as more than likely you are going to smash it up...just like buying a first car

 

i dont want to make any money i just want to be left with something rather than losing the bike and money haha

 

the joys of finance. this is why i will never buy something i cant affoard.

 

i aint dealing with a finance again i cba but when i first started to ride i thought i would only want the bike i got for a few years but as the test is getting harder i now want to get on a geared bike and get the test out of the way before this happens.

 

just pay the finance off on it fast then sell it and use the money to buy a new one. not much you can do really

 

ring them up and ask how much is left on the finance and how much to pay it in full? then work out what your doing lol

cheers

sam