Selling car to a dealer with outstanding finance

[fellatthefirst]

I am after some advice please and i'm sure someone on here will have the answer.

Today i sold my Mercedes to another main dealer garage (not Mercedes). The mercedes had outstanding finance on it and the dealer i bought my new car from has agreed to buy the Merc off me for the exact amount of outstanding finance thus clearing it off to nill. Today i collected my new car and handed over the Merc. The salesman said head office will clear the Mercedes finance off in a few days time.

So my question here is, "should i hang onto the yellow part of the V5 until Mercedes have confirmed with me that the finance is cleared?"

[anonymous-user]

you are responsible for paying finance off (you should have informed them)so chase them up

[Butter Face]

They gave you the yellow bit? They’re all but redundant now.

And anyway, just let them get on with it, payment has likely already been sent to clear it. They can’t sell it on with the finance attached so will want it cleared off ASAP for themselves just as much as you do.