NWMark

Girlfriend is going to look at a car tomorrow and the seller has been honest and told us up front that the car has outstanding finance but it is in the process of being cleared.

Not HPI'd it yet, but its obviously going to show outstanding finance, but i doubt this information will be updated as soon as the finance it cleared.

1. Does anyone know how long it will take for the car to show Finance free on HPI? i suppose this is dependant on the Finance Co.

2. If GF wants the car asap, what proof can i get the bloke to show me that he has indeed cleared the finance? So we can take the car as soon as its cleared rather than when HPI gets updated?

Thanks

Mark

stevem2k

Call the finance company ?

GrahameS

Get him to phone the finance co when you are present and get them to confirm to you on the phone that it is clear. Then get them to post some kind of confirmation out..

Or alternatively if it has not been cleared you can pay the finance co the outstanding amount and pay the remainder to him, them you know for certain that it's paid.

MAC76

Hpi the car... on the HPI will be the agreement number and telephone number of the finance company...ring them! Only if they say that it is clear then take the car. If it is pending clear or not showing etc etc then dont pay for the car untill the cheque for the finance has cleared.
I got caught out for £21500 once... i learnt the hard way!

mattsan

Ouch!

GC8

That cant have been in England then as the law specifically grants title to the buyer if he buys in ignorance.

Simon

pslewis

Sorry, I think you are WRONG AGAIN!!

Pete

GC8

Thats the law Pete; feel free to look it up. I await your retraction and apology.



Simon

Apparition

There are plenty of other cars available. Without finance on them .
Yve

MAC76

It was in England! £21500 out of pocket and no car

douglasb

From the consumer direct website

So, Pete, I reckon that you are correct about valid title for stolen cars bought innocently, but you are wrong about cars on HP which someone buys without being aware that it is on HP.

As NWMark's gf has been told that there is outstanding finance on the car, I guess that removes the "not aware the car was subject to an outstanding hire purchase agreement" defence.

R 14NS R

it can take 10 days to show about finance on hpi, you need a clearence letter from the finance company, faxed you can have it immediately.

NWMark

sorry to drag this one back up but we have a further issue now

Finance is cleared, checked with finance company (HSBC), problem we now have is that the seller does not have the V5, it is with the either the Finance company or the DVLA not sure which. But weve been told this can take upto 4 weeks to come through to the seller.

Is there anyway this can be rushed through?

And

Will it be really stupid to take (and pay for) the car now, and get the seller to fill out the V5 when he eventually gets it? Alarm bells are ringing on this one, but the finance company are owed nothing, its just a case of the V5 needs sorting. Its not as if i cant check the V5 as the finance company have told me all the details from it and it all checks out.

The only issue i see is the guy not filling it out, but i know where he lives the finance co. know where he lives, ive seen his passport, driving license and all car reciepts and they all have the same name and address on. So im sure he's totally legit. What happens if he wont fill the V5 out, is the only thing he can do is say ive nicked his car? but ive paid him for it so that would check out??

Argggggghhhhh i hate buying cars!!!

Any advice please, GF getting a bit worried about it all and im not sure.

Cheers

Mark

mcflurrie

I thought it was illegal to sell a car without the V5 present? Ive had this situation before, took the car without the log book, but luckily the fella was totally honest and sent it on to me. Only real problem we had was not being able to tax the car until we got the V5

GrahameS

I guess you could get some sort of signed covering document to say all of the above, get copies of his passport etc. but its a bit risky.

If you're GF really really wants that car over any other then maybe just waiting and making sure it all Kosher is the way to go. If you've left a deposit etc then that should be satisfactory for the seller, I guess any other potential buyer would be slightly reluctant to take the car with no V5.

andy97

iTrader: (1)

Walk away, there are so many cars to purchase these days, dont get drawn in on a deal when obviously everything is not quite right.

NWMark

Okay all sorted now, well nearly.

The Finance Co (HSBC) person we initially spoke to got it all wrong, intially they said they had the V5 but needed to send it to the DVLA which will take 4 weeks for the seller to get it. but this is wrong the finance co send it straight to the seller not via the DVLA at all.

So he will have the V5 by the end of the week, so we're going down at the weekend to exchange car+V5 for cash

Thanks for all the help

Mark

NWMark

If it was me i would have by now and gone for whatever was available, but the GF is so determined to have the exact car she wants, for the money she has to spend, and there really are not that many around.

Mark