Spec me an HPI check
- Thread starter Hades
- Start date
If you just want to know if its been written off, has outstanding finance, or been scrapped or stolen etc.. ie the basics, then
https://www.mycarcheck.com/
is brilliant. Gives you all the stuff you'll probably need for £3.95
They do have another option for ones with a guarantee and extra checks etc.. but the £3.95 one does what most people want.
This one has been featured in autoexpress, and the information is genuine. But not as detailed as the £15 ones. But depends what you want. Check what the £15 ones check and make your own mind up.
https://www.mycarcheck.com/
is brilliant. Gives you all the stuff you'll probably need for £3.95
They do have another option for ones with a guarantee and extra checks etc.. but the £3.95 one does what most people want.
This one has been featured in autoexpress, and the information is genuine. But not as detailed as the £15 ones. But depends what you want. Check what the £15 ones check and make your own mind up.
I've just done an HPI check on a car I'm thinking of getting, it's come up as outstanding finance, as unit stocking, and it says this:
"If you are buying from a dealer, you may come across this type of finance on your HPI report. Talk it over with your dealer, check their liability and get confirmation in writing that they will clear the finance on the car you are buying. Unit Stocking is a common type of finance agreement used by motor dealers to enable them to fund the vehicles on their forecourt."
So I assume it's ok to buy, and the finance is just the finance he is using, so if I pay cash, all should be ok.
"If you are buying from a dealer, you may come across this type of finance on your HPI report. Talk it over with your dealer, check their liability and get confirmation in writing that they will clear the finance on the car you are buying. Unit Stocking is a common type of finance agreement used by motor dealers to enable them to fund the vehicles on their forecourt."
So I assume it's ok to buy, and the finance is just the finance he is using, so if I pay cash, all should be ok.
No, it won't be ok because the finance will still remain on the car and as such, the bank will still own the car.
Thanks. All I want is the accident history really. It's an old cheap(ish) car but I just want to check that it hasn't been written off. I'll give that a go.
It is ok to buy, but will deviate from normal
Technically the bank still own the car, so you need to be approach the dealer and ask them about the oustanding finance on the car, and what provision they have for paying this off prior to selling it to you.
if they give you a blank look at this point or sound anything other than fully knowledgable walk away fast.
hopefully however, the dealer will explain that the finance company is xyz, and the ammount he's asking for the car will be enough to pay off the finance.
ideally id also want some proof that the finance was paid off from the finance co before accepting delivery too.
Technically the bank still own the car, so you need to be approach the dealer and ask them about the oustanding finance on the car, and what provision they have for paying this off prior to selling it to you.
if they give you a blank look at this point or sound anything other than fully knowledgable walk away fast.
hopefully however, the dealer will explain that the finance company is xyz, and the ammount he's asking for the car will be enough to pay off the finance.
ideally id also want some proof that the finance was paid off from the finance co before accepting delivery too.
Unit Stocking is a common way for dealers to stock their cars, you'll notice it has a term of 3-6 months. Stocking loans generally cover 40-60% of the vehicles stock value Ie: so car is £10k stock price dealer has £4k cash and £6k stocking loan.
As soon as car is sold and invoiced the dealer pays of stocking loan and and re coups cash + profit.
I wouldn't worry about the stocking loan because the providers of these loans are very strict and would cause the dealer a lot of trouble if they weren't being settled in time.
As soon as car is sold and invoiced the dealer pays of stocking loan and and re coups cash + profit.
I wouldn't worry about the stocking loan because the providers of these loans are very strict and would cause the dealer a lot of trouble if they weren't being settled in time.
It's not HP and it doesn't work like that.
