Petem95

I've just rung up about a car in autotrader, and firstly the seller was a scouser which is never a good start, but secondly it turns out the car has £4300 finance outstanding.

The seller says this is with Royal Bank of Scotland and he said he would go to the bank before exchanging docs, and pay off the car before I take it away. He has all the proof of the loan etc.

Does this sound dodgy, or is this fairly normal practice?

Anyone bought a car with finance outstanding?

fbladerrv900

Let him pay off the loan, then purchase the car.
chances are you give him the dollar to pay it and he dose a runner, you get no car and no cash back either

Terminator X

iTrader: (7)

It's not ideal so walk away unless you REALLY want the car! If you do then I'd make out a cheque to the loan company & pay him the difference assuming of course that the car is worth more than the loan.

TX.

Edit - I have done this before with a dealer though rather than a normal "punter".

bootsy

walk away

Snazy

VERY cautious!
Almost impossible to speak to RBS about it direct to confirm he has paid up etc.

As others have said, unless its REALLY worth it, walk away.
Have you for a link to the car online Autotrader?

fatherpierre

Walk.

Is it some mega rare motor or a really good deal?

apples24

iTrader: (1)

just say you will get a bank draught made out to the finance company and pay him the difference, or even better tell him you want to go into a branch and physicly pay the outstanding amount off

Wish

iTrader: (2)

I have the same problem. With G.E. Capital.
The seller says that GE Capital wont accept payment over the phone with my debit card. It has to be paid by the person with the loan.


All very strange

Petem95

I'm not really liking the sound of this at all now! Car seems like a good buy, but something dodgy if its not already sold... guy was a bit "oh someones just been to look but I refused the offer, 100's of calls etc"..

Maybe I should give this one a miss!

Aaquil

Walk away...no actually run. If it sounds too good a deal it probably is!!!!

pslewis

Yep mate - walk ..................

gazza-uk

make out 2 bankers drafts 1 for the finance company, the balance for him.

dsmith

I bought a car with finance outstanding.

I went with the owner to the finance compay. I gave Owner part of the purchase price. He handed it to the finance company. I witnessed the loan being paid of all and being agreed etc by finance company. gave owner the rest of the money. Took car away.

Job Done. Not exactly uncommon.

KiwiGTI

Most cars are on finance, dealers pay off finance companies all the time.