Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • mutley74
    • By mutley74 20th Apr 17, 7:27 AM
    • 3,670Posts
    • 1,251Thanks
    mutley74
    Buying Used car advice
    • #1
    • 20th Apr 17, 7:27 AM
    Buying Used car advice 20th Apr 17 at 7:27 AM
    Hi
    I am planning to replace my car with a used one (one year old, low mileage Nissan).


    I have selected the model and last week agreed a fee (with part x) with main dealer with £100 deposit. They have ordered the car for me to view this week. I am told if not happy I get my deposit back.


    What sort of things do I need to check and watch out for on a used car?


    Dealer tells me it was Nissan owned, but I found out it was owned by an Leasing company, should this make a difference?


    I will be buying the car on finance (as the dealer has offered me a better deal though some Nissan incentives) although plan to pay this back in full within a month. The dealer told me I need to make min 3 monthly payments, however, finance company said it can be repaid anytime. I presume this may affect dealer commission - is this something I need to watch out for? Can they claw back charges from me?


    Test Drives - I have taken other cars of same spec out on test drives, but not this actual car which I have reserved. How long should a test drive be? Is the first service stamp (at this dealer) sufficient or shall I ask for the service summary print out?


    Is it worth asking if they can say discount the deal by an extra £100 (as other dealers started to try offer me matching deals this week).
Page 1
    • macman
    • By macman 20th Apr 17, 11:56 AM
    • 40,953 Posts
    • 16,758 Thanks
    macman
    • #2
    • 20th Apr 17, 11:56 AM
    • #2
    • 20th Apr 17, 11:56 AM
    You've already agreed a contract to purchase for £X, and paid a deposit to confirm that contract. So they're not going to take kindly to you trying to renegotiate the price now.
    Have you checked the terms that you signed for-paying a deposit normally commits you to purchase-it's not an 'option to purchase'?
    No free lunch, and no free laptop
    • mutley74
    • By mutley74 20th Apr 17, 1:02 PM
    • 3,670 Posts
    • 1,251 Thanks
    mutley74
    • #3
    • 20th Apr 17, 1:02 PM
    • #3
    • 20th Apr 17, 1:02 PM
    You've already agreed a contract to purchase for £X, and paid a deposit to confirm that contract. So they're not going to take kindly to you trying to renegotiate the price now.
    Have you checked the terms that you signed for-paying a deposit normally commits you to purchase-it's not an 'option to purchase'?
    Originally posted by macman
    it was deposit to secure the car, with option to cancel & refund subject to viewing/test drive.


    Car first ownership is not an issue - resolved.
    Now my insurer wants a hefty premium for registered keeper being the Finance company (vs if I was full owner/keeper - cost to change was minimal)
    Last edited by mutley74; 20-04-2017 at 1:05 PM.
    • facade
    • By facade 20th Apr 17, 1:34 PM
    • 2,722 Posts
    • 1,385 Thanks
    facade
    • #4
    • 20th Apr 17, 1:34 PM
    • #4
    • 20th Apr 17, 1:34 PM
    Is it usual for the finance company to be the registered keeper nowadays?

    Watch this, as they might try and charge an "admin fee" for dealing with any correspondence, they probably settle any parking tickets as a matter of course, and then bill you (+ admin fee) when you might have disputed them and won, and you won't get any tax reminders.
    I want to go back to The Olden Days, when every single thing that I can think of was better.....

    (except air quality and Medical Science )
    • mutley74
    • By mutley74 20th Apr 17, 1:42 PM
    • 3,670 Posts
    • 1,251 Thanks
    mutley74
    • #5
    • 20th Apr 17, 1:42 PM
    • #5
    • 20th Apr 17, 1:42 PM
    Is it usual for the finance company to be the registered keeper nowadays?

    Watch this, as they might try and charge an "admin fee" for dealing with any correspondence, they probably settle any parking tickets as a matter of course, and then bill you (+ admin fee) when you might have disputed them and won, and you won't get any tax reminders.
    Originally posted by facade
    Im expecting to pay off the Finance balance about a month after purchase, just after the Manufacturer incentives thrown for taking it out (offer is to good to miss).
    Yes Finance company become the reg. keeper but when I pay off the loan update documents for me (no admin fee from Nissan RCI Finance).
    • kmb500
    • By kmb500 20th Apr 17, 1:56 PM
    • 315 Posts
    • 69 Thanks
    kmb500
    • #6
    • 20th Apr 17, 1:56 PM
    • #6
    • 20th Apr 17, 1:56 PM
    Is it usual for the finance company to be the registered keeper nowadays?

    Watch this, as they might try and charge an "admin fee" for dealing with any correspondence, they probably settle any parking tickets as a matter of course, and then bill you (+ admin fee) when you might have disputed them and won, and you won't get any tax reminders.
    Originally posted by facade
    Yes, normal for the finance company to be the registered owner and keeper.
    • onomatopoeia99
    • By onomatopoeia99 20th Apr 17, 3:02 PM
    • 3,086 Posts
    • 6,844 Thanks
    onomatopoeia99
    • #7
    • 20th Apr 17, 3:02 PM
    • #7
    • 20th Apr 17, 3:02 PM
    Yes, normal for the finance company to be the registered owner and keeper.
    Originally posted by kmb500
    There is no register of vehicle ownership in the UK, just of keepers.
    INTP, nerd, libertarian and scifi geek.
    Home is where my books are.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

155Posts Today

1,792Users online

Martin's Twitter
  • Byebye! I'm about to stop work & twitter, to instead spend glorious time with Mrs & mini MSE. Wishing u a lovely summer. See u in 10 days.

  • WARNING Did you start Uni in or after 2012? The interest's rising to 6.1%; yet it doesnt work like you think. See https://t.co/IQ8f0Vyetu RT

  • RT @JanaBeee: @MartinSLewis Boris is the anomaly (coffee), the others are versions of normal (beer). Lots of same candidates = vote share d?

  • Follow Martin