Buying a car with outstanding finance....

11 replies
Found 22nd Mar 2009
How do you clear it? Suppose you bought said car in innocence not knowing about the finance and found out later, how would you know who to pay etc. The actual situation is i've seen a car with outstanding finance that the current owner didn't know about till now, so obviously they won't have the paperwork for it etc......

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11 Comments

pay the finance company off is all you can do as it is in there debt and they have got the right to take it back thats why people are told to do an hpi check before buying.

Original Poster

greyparrot;4705524

pay the finance company off is all you can do as it is in there debt and … pay the finance company off is all you can do as it is in there debt and they have got the right to take it back thats why people are told to do an hpi check before buying.



Which finance company? Does an HPI check give you the full details? I want to know before I waste the money on an HPI check ;-)

i definately know it will show up as owing to finance and yes you should be able to find out who to but just be very careful personnally i would not buy anything that owed finance isnt there anyway you could find out who took the finance out at the begining.

Shengis, you're being mysterious tonight.
How do you know there is finance outstanding, yet you don't know who it's owed to.

Original Poster

Jumpingphil;4705567

Shengis, you're being mysterious tonight.How do you know there is finance … Shengis, you're being mysterious tonight.How do you know there is finance outstanding, yet you don't know who it's owed to.



Well... I asked the seller if it had finance they said no originally then a short time later they emailed me and said sorry, yes it has, but a stupid small amount. Don't want to buy the car and get it snatched for a few hundred quid :lol: They bought it without a check originally. So what I really need to know is if the check would give full details, amount outstanding etc before I proceed with the dealmaking

I think your best bet would be to ask at a car dealers tomorrow.
They would surely know what info you get with a HPI.
They might even be able to point you to a cheaper option.

Original Poster

Had a bit of a google and think i'll give it a miss.

Original Poster

By the way, this is what the question related to. Can't believe he managed to sell it even AFTER somebody left him a neg for not disclosing the outstanding finance. For what it's worth he was willing to deliver it to me for £700.... Sold for twice that :?

Ebay item # 320352270734

stay well away mate

Original Poster

gemmyw;4740151

stay well away mate



I did ;-)

"You can't con an honest man"

I'm far from honest but still...... :lol:

Shengis;4705812

Had a bit of a google and think i'll give it a miss.



That's the approach I'd take, any advice I've seen on dealing with cars with outstanding finance is just to avoid them entirely.

John
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