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Selling a car before the financing clears

Buying on credit, reselling before loan completes

Toytown Germany > Discussion forum > Germany-wide > Finance
JRD
Afternoon, quick question which hopefully someone will know the answer too.

I bought a car with cash, plus a small amount of credit, organised thru the dealer with BMW bank. The loan still has a few months to run, but what happens if I want to sell the car before the end. The problem being that the finance company has the Fahrzeugbrief (or Fahrzeugschein, whichever is the big one!).

Can I sell the car without this, then clear the remaining finance with the proceeds of the sale? Or is it a matter of clearing the finance before the sale?

Thanks in advance.
eurovol
Depends on the buyer. You will first have to settle up to get the title free regardless of how you do it.
JRD
Bit of an update to this. I emailed the bank and they told me the normal method was to tell them the car was sold, they would then send the document to a BMW dealer of my choice. When I cleared the outstanding finance they would clear the dealer to release the form.

Then a couple of days later they just posted it to me anyway! With some computer generated letter saying "for special customers we have special trust..." etc. So I am free to sell it in my own time now. Quite good service I thought.
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