Do I owe more than
my car is worth?
Type your reg and your settlement figure. Our price form opens with both filled in, and your price shows exactly what you’d get after we settle your finance, or the difference to pay if you owe more than our price.
This opens our price form with both filled in. Answer the questions about your car and your price shows exactly what you’d get after we settle your finance.
How it works when you sell to us
We pay your finance company the settlement figure directly, as part of the sale. If our price is more than the settlement figure, we pay you the rest by bank transfer before the car leaves you. If it’s less, you pay us the difference by bank transfer on the day, once we’ve checked the car, and we pay off the whole finance with your lender.
Settlement figures change over time. On the day, we pay the up-to-date figure: if it has gone up since your price, the difference comes off what we pay you.
What is a settlement figure?
It’s the amount you’d need to pay to clear your finance in full by a set date. It isn’t just your remaining payments added up: when you settle early, the law gives you a rebate on the charges for credit. On a PCP, it includes the large final (balloon) payment, less any rebate.
How to get your settlement figure
- Ask your finance company. If your agreement is regulated by the Consumer Credit Act, they must send you a written settlement statement within 7 working days of your request.
- Check the date on it. The figure is worked out to a settlement date, normally 28 days after your finance company gets your request, unless you ask for a later one. After that date, you’ll need a new figure.
- Asking doesn’t commit you. You don’t have to go ahead and pay it.
Owe more than the car is worth?
That’s called negative equity: your settlement figure is more than the car is worth. It’s common, because cars can lose value faster than finance is paid off, and on a PCP the balloon payment is part of what you owe.
You can still sell to us: your price shows the difference to pay on the day. If you’d like to look at your other options first, such as handing the car back under voluntary termination, MoneyHelper explains them. If the payments are hard to keep up, talk to your finance company early, and MoneyHelper’s Debt Advice Locator finds confidential debt advice online, by phone or near you.
General information, not financial advice. Checked against the sources below on 5 November 2026.
Questions people ask
Can I sell my car if it still has finance on it?
Yes, as long as the finance is paid off as part of the sale. On HP and PCP the finance company owns the car until everything is paid. When you sell to us, we pay your finance company directly.
How long does it take to get a settlement figure?
Ask your finance company. If your agreement is regulated by the Consumer Credit Act, they must send you a written statement within 7 working days of your request.
Why isn’t my settlement figure the same as my remaining payments?
When you pay off early, the law gives you a rebate on the charges for credit, so the total comes down. On a PCP, the settlement figure also includes the large final payment.
What if I owe more than your price?
You can still sell to us. Your price shows the difference, which you pay us by bank transfer on the day, once we’ve checked the car, and we clear the whole finance with your lender.
Do I need my settlement figure before I get a price?
No. A rough figure is fine, or leave it blank. Before we buy, we use the exact figure from your finance company.
Sources
- Consumer Credit Act 1974, sections 94 to 97A (paying off early, settlement statements)
- Consumer Credit (Settlement Information) Regulations 1983
- MoneyHelper: ending a car finance deal early
- Citizens Advice: paying off a credit agreement early
More guides: Selling a car with finance · Free car check by reg · All our car tools
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