Outstanding Finance
Discussion
Hi Peeps
I’ve left a deposit with a well known independent supercar dealer and hopefully collecting once it’s had a fresh mot and been through their workshop for a 111 point check blah blah. I’ve done a hpi check and it’s flagged up outstanding finance (stock loan). I’ve never bought a car that has shown stock loan on hpi. I’ve asked the dealer to settle the finance before I pay the full amount. Has anyone been in a similar situation
TIA
I’ve left a deposit with a well known independent supercar dealer and hopefully collecting once it’s had a fresh mot and been through their workshop for a 111 point check blah blah. I’ve done a hpi check and it’s flagged up outstanding finance (stock loan). I’ve never bought a car that has shown stock loan on hpi. I’ve asked the dealer to settle the finance before I pay the full amount. Has anyone been in a similar situation
TIA
Belt and Braces required
Not just ensuring clear HPI - that certainly isn't fool proof
An OPC sold me a car with HPI cert as part of approved car.
Meant zilch - transpired it had an outstanding balance which their 'halo customer' hadn't cleared
This in-itself was odd as it was SOR. I paid in full and if their customer had finance on it, which the OPC knew about re selling him the car. Normal practice would involve the OPC ensuring the finance was cleared with any remaining balance passed on to owner. Somehow the original owner was given full sale proceeds and trusted to clear balance.
This eventually came to light when I went to sell the car - it had outstanding monies owed and had been the same status for the last 3 years.
Still, it wasn't much to worry about. The lovely chap had only owed circa £105,000 on it and had kept up his monthly payments of circa £2600 So by the time I found out, there was only a piffimg £20,0000 left to pay
To conclude - you need to ascertain who has marker on the car and then written confirmation, once balance settled, clearly stating they hold no further interest
Unless you enjoy HEART ATTACKS (the f'ing tossers)
Not just ensuring clear HPI - that certainly isn't fool proof
An OPC sold me a car with HPI cert as part of approved car.
Meant zilch - transpired it had an outstanding balance which their 'halo customer' hadn't cleared
This in-itself was odd as it was SOR. I paid in full and if their customer had finance on it, which the OPC knew about re selling him the car. Normal practice would involve the OPC ensuring the finance was cleared with any remaining balance passed on to owner. Somehow the original owner was given full sale proceeds and trusted to clear balance.
This eventually came to light when I went to sell the car - it had outstanding monies owed and had been the same status for the last 3 years.
Still, it wasn't much to worry about. The lovely chap had only owed circa £105,000 on it and had kept up his monthly payments of circa £2600 So by the time I found out, there was only a piffimg £20,0000 left to pay
To conclude - you need to ascertain who has marker on the car and then written confirmation, once balance settled, clearly stating they hold no further interest
Unless you enjoy HEART ATTACKS (the f'ing tossers)
jonny finance said:
Belt and Braces required
Not just ensuring clear HPI - that certainly isn't fool proof
An OPC sold me a car with HPI cert as part of approved car.
Meant zilch - transpired it had an outstanding balance which their 'halo customer' hadn't cleared
This in-itself was odd as it was SOR. I paid in full and if their customer had finance on it, which the OPC knew about re selling him the car. Normal practice would involve the OPC ensuring the finance was cleared with any remaining balance passed on to owner. Somehow the original owner was given full sale proceeds and trusted to clear balance.
This eventually came to light when I went to sell the car - it had outstanding monies owed and had been the same status for the last 3 years.
Still, it wasn't much to worry about. The lovely chap had only owed circa £105,000 on it and had kept up his monthly payments of circa £2600 So by the time I found out, there was only a piffimg £20,0000 left to pay
To conclude - you need to ascertain who has marker on the car and then written confirmation, once balance settled, clearly stating they hold no further interest
Unless you enjoy HEART ATTACKS (the f'ing tossers)
I told the dealer on NO terms will I be paying for the car until It is clear of finance if not return my NO quibble deposit Not just ensuring clear HPI - that certainly isn't fool proof
An OPC sold me a car with HPI cert as part of approved car.
Meant zilch - transpired it had an outstanding balance which their 'halo customer' hadn't cleared
This in-itself was odd as it was SOR. I paid in full and if their customer had finance on it, which the OPC knew about re selling him the car. Normal practice would involve the OPC ensuring the finance was cleared with any remaining balance passed on to owner. Somehow the original owner was given full sale proceeds and trusted to clear balance.
This eventually came to light when I went to sell the car - it had outstanding monies owed and had been the same status for the last 3 years.
Still, it wasn't much to worry about. The lovely chap had only owed circa £105,000 on it and had kept up his monthly payments of circa £2600 So by the time I found out, there was only a piffimg £20,0000 left to pay
To conclude - you need to ascertain who has marker on the car and then written confirmation, once balance settled, clearly stating they hold no further interest
Unless you enjoy HEART ATTACKS (the f'ing tossers)
Gassing Station | Supercar General | Top of Page | What's New | My Stuff