# Hpi



## srmtor (Jul 12, 2008)

Ive got HPI on my Peugeot 206, this finishes in April 2013. Is there anyway I can sell the car and pay the HPI off or do I have to wait until the HPI has been paid off before selling? At the minute I seem to be throwing money at it with 1 thing or another breaking!!

Cheers 
Rich


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## Kerr (Mar 27, 2012)

You can but you would need to be open with the seller and get them to pay the HP off directly to the finance company. 

If you have made half the payments, you are entitled just to hand the car back to the finance company and walk away as long as car is in a fair condition.


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## Duke Wellington (Dec 1, 2009)

HPI is Hire Purchase Information; if you have some form of car finance using the car as security then this will be shown on a HPI check.

You don’t have to wait for the end of the term of the financial agreement to sell the car.

Somewhere in the finance agreement small print you have is a clause that the car belongs to the finance company while there is outstanding finance. You should settle this before you have the right to sell the car.

You can sell it to a motor dealer or use it as a part-exchange who will settle the finance directly with the lender. This is the quickest way as they know the routine and most likely have an account with the finance company.

You can borrow money on a personal loan to settle the finance with the lender then sell the car.

You can make it clear with a private buyer there is outstanding finance and arrange for them to pay the outstanding balance to the lender and the rest of the agreed sale price to you.

If you sell the car without settling the outstanding finance it is fraud.


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## srmtor (Jul 12, 2008)

Thanks duke, that's very helpful, think I shall look into it further.


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