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How to tell if there is outstanding finance on a car. Before you buy a used car, you should carry out a car registration check, which will tell you if any money is owed on the vehicle, and also if it has ever been involved in an accident or if itâs stolen.If youâre buying from a dealer, you can ask if they have carried out these checks or you can do your own.Our Car Passport can check the history of a vehicle and is thus a reliable way to avoid buying a car with outstanding finance.efore you buy a used car, you should carry out a car registration check, which will tell you if any money is owed on the vehicle, and also if it has ever been involved in an accident or if itâs stolen. If youâre buying from a dealer, you can ask if they have carried out these checks or you can do your own.
Any settlement check will be made to you and also to the lien holder of your vehicle. But;;;;;;;if the value of the car is less than $1,500 that you owe to the loan company, then you will be upside down and owe any outstanding balance to your loan company. They NEVER pay off the loan, but the value of what it is worth.If it is worth more than your loan, then they pay off the loan and then issue you a 2nd check to you for the balance over amount of your loan. 2 examples Car worth $1,000.They issue check for $500 to you and loan company, since they subtract out $500 deductible.ny settlement check will be made to you and also to the lien holder of your vehicle. But;;;;;;;if the value of the car is less than $1,500 that you owe to the loan company, then you will be upside down and owe any outstanding balance to your loan company. They NEVER pay off the loan, but the value of what it is worth.