Can I import a car that has outstanding finance?
Filed under:
finance
The question
Hi, I want to import a car to Ireland from the UK, but the car has outstanding finance. Is it possible to pay VRT without clearing the outstanding loan on that?
Thanks
Asked by surinder singh ·
Expert answer
Hi Surinder,
Yes, it's possible but don't. Never, ever buy a car with outstanding finance because the previous owner can simply default on their repayments as they please and then the finance provider will equally simply repossess the car. There's nothing you will be able to do about it and precious little legal comeback even if you can track down the former owner. Don't do it.
Answered by Neil Briscoe