Hello Everyone,

 

I just purchased last month a new HONDA car with a financing (from KasikornBank Leasing) over 4 years, and 2 weeks later time my company just informed me that I will be entitled to get a compnay car starting from next year... Bad timing ...

so I have to sell that new car that I just bought (and probably loose a few hundred thousands)...

Anyhow, my question is: how does it work in regards to that financing if I want to sell the car? Can that financing contract be transfered?

Anyone with experience could share what's the best to do to avoid loosing too much money?

 

The car and credit financing contract are both in my name

 

Thanks !

Yes the financing can be transferred to the buyer. It's actually a fairly straightforward process. They need to be approved by the financing company then the buyer pays you some cash (assuming you have some equity) and you go with the buyer to the financing company to complete the paperwork. 

 

As another option maybe you can negotiate with your company to provide you an amount in cash instead of the company car. 

2 hours ago, Crash999 said:

 

2 hours ago, Crash999 said:

 

As another option maybe you can negotiate with your company to provide you an amount in cash instead of the company car. 

yes - ask for a montly transport allowance, this should cover your finance and after 4 years the car is yours and you still get the allowance

 

I choose that option with my company instead of the rental car

Which Honda car did you buy? 

CRV 2.4 2WD

Thanks for the replies - I am checking with my company to replace and get an allowance.

I bought an Honda CRV 2.4 4WD - Excellent car.

On 06/01/2018 at 10:44 AM, MrJ said:

CRV 2.4 2WD

Not my cup of tea but I'm sure you will have no trouble finding someone who wants one.. 

They seem to be v popular