Buying a car - Vehicle check shows its on finance

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markfj
markfj Posts: 519 Forumite
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in Motoring
Hi guys

I paid a deposit and agreed to buy a car via a dealership on Friday morning and to collect. I did a quick vehicle check and it showed the car in on finance through GMAC (UK) PLC

Not bought from a dealer for a long time myself now, soive questioned this with the dealer and just emailed the finance company and awaiting replies. I'd have thought that it shouldnt be showing as on finance though?

Thanks!
Mark

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  • molerat
    molerat Posts: 31,865 Forumite
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    How do you think dealers can afford to have all those shiny motors on their forecourt ?
  • markfj
    markfj Posts: 519 Forumite
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    That's basically what I wanted to double check, I know I'might over cautious but there are some dodgy car dealers out there too.

    But I'm sure it's all fine, really.

    Cheers
  • SimonD316
    SimonD316 Posts: 330 Forumite
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    90% of dealer used cars will be on a stock plan. As soon as it's sold they will pay off the finance. I wouldn't be too worried about it.
  • Oakdene
    Oakdene Posts: 2,560 Forumite
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    Yeah it'll be Lombard funding or something similar, where they have a certain amount of days to sell it before they dont get funding.

    As soon as you buy the car the sales admin will take it off funding & the money will come out of thier account.
    Dwy galon, un dyhead,
    Dwy dafod ond un iaith,
    Dwy raff yn cydio’n ddolen,
    Dau enaid ond un taith.
  • Nodding_Donkey
    Nodding_Donkey Posts: 2,738 Forumite
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    Remember that when you buy from a Bona Fide car dealer you have good title anyway, no matter what sort of finance is outstanding.
  • flashg67
    flashg67 Posts: 3,997 Forumite
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    GMAC is, AFAIK, owned by Vauxhall / General Motors who I believe do offer stock financing to dealers
  • forgotmyname
    forgotmyname Posts: 32,552 Forumite
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    If you think the dealer is dodgy why buy from them?
    Censorship Reigns Supreme in Troll City...

  • markfj
    markfj Posts: 519 Forumite
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    Thanks all for clearing that up, I just wanted to double check especially as when I asled the dealer they said they would have to get someone to call me regarding it, but seems it's nothing to worry about.

    Forgotmyname - I never said I thought this dealer was dodgy
  • Nodding_Donkey
    Nodding_Donkey Posts: 2,738 Forumite
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    forgotmyname wrote: »
    If you think the dealer is dodgy why buy from them?

    Are then any car dealers that aren't dodgy in some way?
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