Definitely do this! If the vehicle has a charge registered, financier can repossess the car even if its been sold to other people. You then have to sue the seller to try and get your money back.
I nearly got caught out 25yrs ago with an Suzuki RGV I bought and later sold.
Two owners previous to me had the bike financed but it wasn't properly discharged.
A couple of months after I sold the bike, new owner realised it still had a charge registered and started abusing me relentlessly. Luckily the finance had been paid out by the original owner but finance company forgot to lodge the paperwork.