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danza

danza

danza

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I'm supposed to be viewing a car tomorrow, and the HPI check's gone awry :(

The car has outstanding finance. DAMN AND BLAST!!

hpi2.jpg


I've contacted the owner, and he said that's why he's selling the car, to pay off the debt. What the hell do I do now? :confused: :(
 
He's not allowed to sell it without paying off the finance first. It's not his to sell, and it won't be yours either. If he doesn't pay the finance then you lose the car. Walk away.
 
Wicksta said:
He's not allowed to sell it without paying off the finance first. It's not his to sell, and it won't be yours either. If he doesn't pay the finance then you lose the car. Walk away.
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Is that so? :confused:
 
[TW]Fox said:
No, its not. It's a hell of a lot more complicated than that and you don't neccesarily lose the car.
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But you will likely lose the car as it belongs to the finance company until they receive their last payment surely?

http://www.cardatachecks.co.uk/what_hpi_check.php

"The loan which is secured against a vehicle - meaning that if you buy it, and the loan is not repaid, you may never legally own the vehicle or obtain good title. "
 
[TW]Fox said:
No, its not. It's a hell of a lot more complicated than that and you don't neccesarily lose the car.
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Still it's no worth the risk though, is it?

I've spent ages this week turding around shifting money about and organising things for the viewing tomorrow. I only just got the HPI check done because he had a viewing yesterday and obviously didn't want to chuck money away on a check that was useless if he sold it. GAH!
 
divine_madness said:
Phone him up and ask about it and also the Finance house to see what the deal is...
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I've asked him to scan and email a copy of the details and agreement.

I have the finance company agreement reference and a contact no, it's just that they're closed all weekend, so I can't get any help from them.
 
I've just read somewhere about somebody having similar issues as I am. They fomed a mutual agreement with themselves, the vendor and the finance house. The car was then purchased and all was well - Any ideas how to instigate this and what the conditions might have been?
 
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if there is somthing special about the car then it may be worth the hassel, but if its a common car, get looking for somthing else.
 
dsb said:
if there is somthing special about the car then it may be worth the hassel, but if its a common car, get looking for somthing else.
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It's not special as such. Good price, low miles and if it's as advertised a bit of a bargain. I really, really hate missing bargains, hence biting hard onto this one...
 
I had the same thing when I bought my car, it isnt a problem, what you need to do is pay the money you have agreed to pay for the car directly to the finance company. If this is less than the total amount then you should make sure that the person who is selling it pays the amount left over before you part with your money. It will take a few days for the finance to clear. The seller should give you his account number and all required details so you can contact the finance company directly. Once funds have cleared the finance company should be able to fax/send you a letter confirming the account being clear, you should keep a copy of this and give a copy to the seller at which point the car should be handed over to you.

Make sure you pay a deposit to the seller and get a receipt of this and write down how you will pay the rest of the money and once cleared you will own the car and then sign this and get the other guy to too, this should cover you enough in case anything goes wrong. If you have a signed 'contract' and receipt for deposit and you have been to the sellers house to see the car, you should therefore have his name and address. If he doesnt follow through you'd have enough to go to the police with. But in my experience everything rang smoothly, I had regular contact with the seller and we told each other what was happening.

Really isnt anything to worry about, it's quite normal when buying a car from someone who bought it new and have finance through a finance company.

Hope this helps
 
bobby said:
I had the same thing when I bought my car, it isnt a problem, what you need to do is pay the money you have agreed to pay for the car directly to the finance company. If this is less than the total amount then you should make sure that the person who is selling it pays the amount left over before you part with your money. It will take a few days for the finance to clear. The seller should give you his account number and all required details so you can contact the finance company directly. Once funds have cleared the finance company should be able to fax/send you a letter confirming the account being clear, you should keep a copy of this and give a copy to the seller at which point the car should be handed over to you.

Make sure you pay a deposit to the seller and get a receipt of this and write down how you will pay the rest of the money and once cleared you will own the car and then sign this and get the other guy to too, this should cover you enough in case anything goes wrong. If you have a signed 'contract' and receipt for deposit and you have been to the sellers house to see the car, you should therefore have his name and address. If he doesnt follow through you'd have enough to go to the police with. But in my experience everything rang smoothly, I had regular contact with the seller and we told each other what was happening.

Really isnt anything to worry about, it's quite normal when buying a car from someone who bought it new and have finance through a finance company.

Hope this helps
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Thanks, just what I needed ;)
 
danza said:
Still it's no worth the risk though, is it?
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thats for you to think about

its by no means clean cut it wont work sort of thing

but it does have a chance of going **** up.

Can you find another car like it ? if so walk away. If not, do some haggling. He wont be selling it any time soon while there is outstanding finance on it.
 
Really you should have asked him "is it hpi clear" before having any sort of check done.

Whatever you do don't buy a car until the finance is completely cleared and don't take his word for it, get another hpi check as proof showing it clear (complete with vin number put in for indemnity reasons).

Sounds stupid but you don't live anywhere near blackpool do you? and the guy your buying off is not called James with surname starting H? :p
 
bobert50 said:
Really you should have asked him "is it hpi clear" before having any sort of check done.

Whatever you do don't buy a car until the finance is completely cleared and don't take his word for it, get another hpi check as proof showing it clear (complete with vin number put in for indemnity reasons).

Sounds stupid but you don't live anywhere near blackpool do you? and the guy your buying off is not called James with surname starting H? :p
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No, not in Blackpool. Cambridge. His name is Dan. It could all go breasts skyward yet anyway, so I'll keep you updated ;)
 
just please be really careful with finance as these finance companies won't mess about unless you have proof you couldn't have known (ie a hpi check coming up clear), they'll just take the vehicle and that'll be that.

You just sparked me into making a post about my car that had finance from a previous owner ! :D
 
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