Philip Raby Porsche

Porsche Sales and Service

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Outstanding finance on a car

I was asked today what happens when buying a car that has outstanding finance on it. And that’s finance that is still owed, not finance that is in some way astonishing! It’s common for cars – both new and used – to be bought on finance and it’s not unusual for owners to then sell the car before the finance has been paid off. The crucial thing about car finance is that the money is provided by the lender for the sole purpose of buying that particular car. If the car is then sold, the owner is contractually obliged to clear […]

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