Hey guys,

just had a look on pistonheads and phoned up a guy selling a 02 plate wrx import with 83k on the clock(most of them motorway miles and all the mileage is UK)I was wondering is it worth buying or would there be something drasticlly wrong with it as he is only asking 7k? the guy was very honest and advised that there is finance on the car and he was going to use the cash from the car to clear this finance and give me the recipt along with the FSH. No mods standard car just sti styling bits here and there.

any thoughts and advice on this will be great.

cheers

 

Potentially for dodgyness here. If the guy takes the cash, and signs the car over to you, there is nothing stopping him from pocketing the cash and not paying off the finance. This will of course be recorded, and when any potential buyer runs an HPI check it will flag up as having outstanding finance - and a buyer will run a mile.

Offer to go to the dealership/bank whatever with him and pay off the finance, and then you will know it's done - Otherwise I wouldn't touch it.

 

As above, be careful there.

There should be plenty around to choose from though.

 

The car is listed for sale on here somewhere..

 

I bought a car from a professional footballer many years back. (no names) paid cash.

not being the brighest of chaps he took my cash and continued to pay off his car loan with it. In the days before hpi I drove around happy as a pig in a barn...

came to part ex said car.... dealer found out it was recorded as finance owing. I showed him the v5 and the reciept from brains the footballer and the dealer cleared the problem up.

it goes along the lines of 'hello mr footballer, finance company here. you sold the motor?..then pay us xxxx by the end of the week or off to court we go'.

If it were me now, then I would be very careful as the legal title is not his to sell so not your to buy.

 

thanks for the replys guys, he did say if i paid a deposit he would go and clear the finace up from the money he using to go towards the house and when i go to collect the car he will give me the recipt of the clearence and i pay him the rest so that he can put the money towards the house again. Problem is i dont trust anyone who asks for a deposit, the only thing i could do is guarentee ill be there to pick the car if he pays the finance off but then his arguement will be what if i didnt turn up hes then out of pocket!.
I think ill leave this one in that case unless he pays of the finance before i even consider buying it

jay

 

Well to be fair, asking for a deposit is fine, so long as you get a receipt - if you go and look at a car and decide you are going to buy it at an agreed price - you are unlikely to have that amount of cash on you - hence a desposit of a few hundred quid to secure the car.

However, there sounds to be far too many variables in this deal. I wouldn't touch it until i did an HPI check and it came up with no finance owing.

 

Its fairly common practice to pay a split payment on cars like this what you do is get owner to get settlement figure (his hp co. will provide this easily) then you make payment to them for what is outstanding and the balance to the seller, this way finance is cleared, you get clear car, he gets the balance paid to him. If he wants a copy of your payment to HP co. you can provide this as proof you have cleared the car. None of this relates to any other checks that require to be done when buying any car but just this point alone would not put me off buying a car.Hope this helps

 

Sounds like a good way round the problem