Looking at a car tomorrow, with outstanding finance?

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21 Oct 2002
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My girlfriend is after one of the new Mini Ones, however knowing how picky girlfriends are, it has been particularly hard to find one which has all the requirements, and comes within the right price range.

Ive seen advertised a 55 Plate Mini One at a very reasonable price, and we are going to view it tomorrow, the lady selling it says that shes pregnant, bought the car on finance, and now shes stuck, so she needs to get rid of it really.

Basically the amount left on the finance is the asking price of the car, this isnt an overly cheap amount, its actually quite appropriate for a car of its age and sort.

The finance i presume would be with BMW finance, and the lady states in the advertisement that:

It has outstanding finance which can be settled by having a bankers draft drawn up for bmw for the amount owed out of the selling amount. Bmw have drawn up a letter of permission for me to sell the car whilst it still being under hire purchase.

Im presuming that we will just pay the money to BMW finance, and the car can then be signed over to us, or the outstanding debt will be transferred over to us and so will the car?

Can anyone advise me of what to lookout for tomorrow when we go ahead with this, im being very cautious about this, and i want to take every precaution before thinking about taking the plunge.

Any help or advice would be greatly appreciated.
 
Should be fine.

Check the details. Make sure the paperwork is correct and get onto BMW Finance youself, whilst she is there. She will have no objection to this, IF what she has stated is correct. Get the number to phone for yourself, don't let her give it to you.

You pay BMW, she gets the debt rubbed out and the car is yours. Providing it all goes as it should, you will have a new car and no worries.

You are right to be carefull though, but you seem level headed and aware of what "could" go wrong to the unsuspecting buyer.

Oh and is it light blue metallic?
 
No its black :)

Thanks a lot for the help from both of you.

Ive got the number from BMW financial services so ill ring them up tomorrow and they should be able to helpout tomorrow.

Thanks again.
 
Lol, I was only kidding about the colour because "most" women like pretty colours and I see a lot of those light blue ones going round.

Hey, I just got my missus to buy a Platinum Grey Met. Car! hehe
 
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