Hi all,

Right, I am getting my misses a new car and thankfully she wants to stick with a ford and get the new shape KA..

Here is my problem, we have looked at a fair few now. And she has found one she really likes, I have checked it over and everything seems to be decent about it I can't actually find any faults.. BUT, the currant owner / seller has outstanding finance on it. They know we like it but even before us mentioning that they stated that if a deposit was left they would clear the finance straight away and give us proof, Which seems pretty good..

How do I go about a situation like this..??

Avoid? Go for it?

Stay with them while they clear the finance..

How do I get proof that its been cleared?

Any info would be great.. I just don't know..

We just don't want to miss out on this to be honest but we don't want to get ourselves in the s**t to be honest..

I can't really say they seem genuine and I trust what they say because you just don't know...but they don't seem the dodgy type!

Thanks in advance

Ollie

TBH I'd be wary about them clearing finance with your deposit.

If they're that close to finishing their finance that it can be cleared with deposit level money why don't they pay it off and then reimburse themselves when you pay for the car?

I wouldn't touch the car personally until I got a HPI check carried out (one of the text type checks should suffice).

How much deposit are you looking at by the way?

TBH I'd be wary about them clearing finance with your deposit.

If they're that close to finishing their finance that it can be cleared with deposit level money why don't they pay it off and then reimburse themselves when you pay for the car?

I wouldn't touch the car personally until I got a HPI check carried out (one of the text type checks should suffice).

How much deposit are you looking at by the way?

Oh sorry no, they are not going to clear it with the deposit. They just want the deposit first to know we are not going to be wasting their time. £300 deposit

Thanks

I would be upfront with them, tell them you will give them a 50 deposit because you know the outstanding finance is still there and as you don't know them from Adam you feel you need to proceed with caution as you don't want either party to be out of pocket and advise that you guarantee to buy the car but need the guarantee the finance is paid, ask if they would mind you being there when they make the call. Do a hpi check then you should have the perfect car.

How much finance is outstanding?

By law until the finance is paid off they don't technically own the car outright.

They can sell the car but need to clear the outstanding finance before the V5C can be transferred to a new owner.

If you buy the car from them and they don't clear outstanding finance then the creditors can come after you for the payments.

http://www.parkers.co.uk/cars/advice/selling/archive/Buying-a-used-car-with-outstanding-finance/

I would be upfront with them, tell them you will give them a 50 deposit because you know the outstanding finance is still there and as you don't know them from Adam you feel you need to proceed with caution as you don't want either party to be out of pocket and advise that you guarantee to buy the car but need the guarantee the finance is paid, ask if they would mind you being there when they make the call. Do a hpi check then you should have the perfect car.

How much finance is outstanding?

Thanks for your advice :-)

I don't know how much is outstanding ..

As your a potential buyer, you could request him to be honest and tell you what it is, but until you have evidence that the car is his to sell, with no outstanding balance then you should push back on the sale until such evidence is provided.

Yeah as Clive has said they aren't allowed to sell the car until the finance has been cleared, it's illegal to do it so really they should not need a deposit.

An HPI check will cost you about 20 quid you can do it online, i would suggest this being a first step, don't be a mug and hand over any cash, they are adult and the rules of taking a car out on finance were fully explained to them. If they really want to sell the car hang around and wave your cash in their face to get them going. Do not hand over any money, there will always be newer and better opportunities if things don't exactly go to plan

How did the buy go? did you get it or walk away in the end?

How did the buy go? did you get it or walk away in the end?

hi sorry, been busy at work then got myself a new tattoo.. not much time to be on here..

we didnt go for it in the end , i didnt want to get into all the hassle of finance issues, no point turning a problem thats not mine into mine.

the bloke kept trying to contact me few days later, nocked down the price too LOL..

but nah , a no go in the end. its still for sale haa

going to view another one on saturday with no issues that they have stated.. so hopefully will be a buy .. so i can have my car back !!!

Remember the HPI check.

icarcheck is a good one, I paid a tenner and got three checks for that price, thats what told me my car was a cat d write off, and helped me to negotiate the price :D