What's the best place to sell for cash like WeBuyAnyCar etc?

[Guest]

Hi I'm desperate for help. Basically I've just come out of a dv relationship and my head has been spinning the whole time. I sold my house and had bought a new build which is due to complete 17th March and as part of the mortgage offer the lender wants me to pay of my car which is 6k.

I've been waiting for the house to be built since July 22 and so I've just got on with life thinking ill have enough money for everything.

My ex partner who I've left didn't put a penny into any aspect of the sale and lived with me but only paid for shopping cause he said he couldn't afford it so I was unable to save up any more.

I got manipulated basically.

I'm renting until the sale completes. Anyway I've had the completion statement through and I owe 7k which I have got, but literally nothing else left to pay off my car. I've already paid 21k to the builder and I'll loose this as I'll be in breach of contract if I can't fulfill the terms of the mortgage offer and have to pull out.

My mortgage broker is going to see what he can do with the lender for me.

I'm absolutely terrified.

Anyone been in the same position and it's worked out? Also I'll have to sell my car so what's the best place to sell for cash like WeBuyAnyCar etc?

I'm trying to free up cash where I can.

Any advice greatly appreciated

[Tina]

Def don't use we buy any car. They are rip off merchants. xx

[Jemma]

Try motorway to sell your car, garages bid on it and you get the highest bid. It then goes on your finance and if there's any left after that's paid, that goes to you. You're not committed into the sale either if you dont like the prices offered. They collect the car from you. Veey easy process.

[Rachel]

Jumping on this post, those who recommend motorway, how quick did they make bids to buy your car and how long till they paid out for it?

[Amy]

I used to be a mortgage adviser, it seems when looking at affordability the mortgage company have deemed your mortgage is only affordable if you clear the car loan and reduce your monthly outgoings hence why this is a condition of offer.

The alternative would be that they refuse to lend.

There is no point consulting your solicitor this is a term in your mortgage offer and nothing to do with the solicitor.

You could as someone else suggested so nothing and hope they don’t do another credit score prior to releasing the money or alternatively you need to clear this loan without taking more debt to clear it. You could sell the car, clear the loan then buy another car with credit once you have the mortgage in place.

[Vikki]

WBAC is a total ripoff they offered me £500 for my Volvo xc90 I got £2000 for it !!

[Paula]

Sell it privately. We buy any car will find any tiny faults on the car and use them as a tool to reduce what they will pay.

Used car prices are at an all-time high at the moment so you may end up with a lot more than you thought.

[Kathy]

I'm sorry you're going thru' such a difficult time. Are you sure you can go ahead with your house purchase? Have you exchanged Contracts? In the interim, since July 2022, interest rates have gone up. We are in such difficult financial times. Please talk to your Solicitor (they hold signed Contract for some time b4 exchange usually, & until they do you're not completely committed) I'm only trying to think logically.

Citizens Advice Bureau are good, also there are Credit Unions (not for profit) who can lend for the £7K debt. At the present the Builder may be able to sell for more than agreed with you. Your Solicitor, will advise about Breach of Contract. PLEASE TAKE HEART, & take deep breaths. Best wishes. Solicitor 1st, CAB 2nd, Credit Union 3rd, all may contribute to solutions.