WeBuyAnyCar weird transaction?

[Borys]

Guys,
My friend traded in his car with WBAC
Car was valued 9734
Settlement figure for finance was 2756
Difference to be paid to him 6988
He checked his bank account full amount of 9734 was paid in and finance not cleared
He called both and as usual no one to help
Car is gone too
What on earth?

 

[KoFidee]

maybe he should settle finance figure !
the agreement is after all between him and the finance company.

 

[grober]

Not sure if technically your friend can sell the car without settling the finance first as I would assume the finance company would retain title to the car till then? He should contact them ASAP.

 

[Dieselman]

Did He make an arrangement with WBAC to settle the finance?
Personally, I would always settle it myself, that way you know it's done.

 

[Borys]

On the contract with WBAC in term it says they will pay the finance off,all figures written down I guess he need to do it himself as full amount was paid to him But so stupid from WBAC Who privately would give the full asking price to a seller if there is a finance outstanding-that need to be sorted first
Imagine if he wouldn't check his bank account?

 

[John]

Administrative mistake?

 

[DSB SL AMG]

+1

Administrative mistake?

 

[grober]

Is it a Criminal Offence to sell a car with outstanding finance? URGENT - MoneySavingExpert.com Forums

 

[jaymanek]

I would speak to WBAC urgently and clarify but its fairly clear he will need to do the right thing and pay it off himself.

 

[Meldrew2]

I traded a car with outstanding finance some years ago and the finance company (Close Brothers) were quite happy for me to settle the outstanding finance directly with them.

 

[MCFastybloke]

Who says the finance is still outstanding?The finance co?May not be cleared on there system.

 

[stevehg]

Ignore the sensational posts about it being illegal and that you urgently need to resolve this.

Your friend just needs to deal with WBAC. Once they confirm what payments have been made where, your friend can either return difference to WBAC, or pay settlement fee directly, depending on what WBAC have paid out and to whom.

Your friend has not done anything illegal and doesn't need to panic.

cheers, Steve

 

[Borys]

Is it a Criminal Offence to sell a car with outstanding finance? URGENT - MoneySavingExpert.com Forums

Nonsens Cars are being sold with outstanding finance all the time,finance need to taken care of on the day of a sale and in this case WBAC didn't. Istead they sent full balance to my mate, his going for drinks tontine he he....just joking

 

[Stratman]

Your friend will, of course, deduct a 'handling fee' and an 'administration charge' from their refund.

Plus an extra two hundred quid because their invoice is a little marked and one edge isn't straight.

What's good for the goose.......

 

[grober]

Just trying to be helpful- posted a couple of hypertext links that might have shed some further light on the situation for your friend. How they come out on the forum is nothing to do with me its a function of how the forum software works.
p.s. apparently the same link came up twice- the second one should have read

Selling a Car with Finance outstanding on it. - MoneySavingExpert.com Forums

 

[Borys]

He just called me
Problem also is,monday another instalment should leave his bank account for the car finance
If that goes through how on earth the settlement figure will be accurate-all will change
Bit of a mess

 

[Dieselman]

Why didn't he just tell them he was selling the car and to stop taking payments?

The mess is of his own making, lack of thought, but it doesn't make any difference really.

He has been given the funds to pay the finance, if a payment is taken he will owe less.

 

[Borys]

Ok lets leave it to him
Good nite pips