Buying a reposessed vehicle
08 October 2006, 04:10 PM
#5
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I have no experience of this, but 5 grand seems very cheap for that car! Therefore, I would avoid it as if it appears to good to be true, it usually is.... On the other hand, you could get deal of the year, but the seller will be selling it for what it is worth / what he can get for it, at the end of the day.
08 October 2006, 04:11 PM
#6
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Originally Posted by scooby_me
that link contains your postcode you may want to considder editing that link!
08 October 2006, 06:45 PM
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I've previously bought a "****** back" car from the finance company.
As long as you can get assurance that there is no longer any outstanding payments or the finance company have been fully saistified (i.e they repo'd the car, so they shouldn't). Then there is no issue.
A Hpi report will show up as it having oustanding finance, but as long as you notify the finance company and ask them to give you written confirmation that they have no futher interest, then you won't have problem buying, or reselling. As the matter has been resolved.
If the finance matter hasn't been resolved....RUN!
As long as you can get assurance that there is no longer any outstanding payments or the finance company have been fully saistified (i.e they repo'd the car, so they shouldn't). Then there is no issue.
A Hpi report will show up as it having oustanding finance, but as long as you notify the finance company and ask them to give you written confirmation that they have no futher interest, then you won't have problem buying, or reselling. As the matter has been resolved.
If the finance matter hasn't been resolved....RUN!
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09 October 2006, 08:23 AM
#10
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bought many repos, hpi the car it will more than likely still show outstanding, the hpi check will give you the finance companys name tel number and a ref number casll em give em reg ask if any further intrerest as you believe its a finance repo and your buying the car they will confirm
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