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  • FIRST POST
    • markfj
    • By markfj 17th May 17, 1:08 PM
    • 433Posts
    • 161Thanks
    markfj
    Buying a car - Vehicle check shows its on finance
    • #1
    • 17th May 17, 1:08 PM
    Buying a car - Vehicle check shows its on finance 17th May 17 at 1:08 PM
    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
Page 1
    • molerat
    • By molerat 17th May 17, 1:24 PM
    • 16,607 Posts
    • 10,825 Thanks
    molerat
    • #2
    • 17th May 17, 1:24 PM
    • #2
    • 17th May 17, 1:24 PM
    How do you think dealers can afford to have all those shiny motors on their forecourt ?
    www.helpforheroes.org.uk/donations.html
    • markfj
    • By markfj 17th May 17, 1:33 PM
    • 433 Posts
    • 161 Thanks
    markfj
    • #3
    • 17th May 17, 1:33 PM
    • #3
    • 17th May 17, 1:33 PM
    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
    • By SimonD316 17th May 17, 3:01 PM
    • 309 Posts
    • 151 Thanks
    SimonD316
    • #4
    • 17th May 17, 3:01 PM
    • #4
    • 17th May 17, 3:01 PM
    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
    • By Oakdene 17th May 17, 3:07 PM
    • 1,125 Posts
    • 2,720 Thanks
    Oakdene
    • #5
    • 17th May 17, 3:07 PM
    • #5
    • 17th May 17, 3:07 PM
    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.
    • Nodding Donkey
    • By Nodding Donkey 17th May 17, 3:51 PM
    • 2,367 Posts
    • 1,976 Thanks
    Nodding Donkey
    • #6
    • 17th May 17, 3:51 PM
    • #6
    • 17th May 17, 3:51 PM
    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
    • By flashg67 17th May 17, 7:29 PM
    • 2,146 Posts
    • 1,415 Thanks
    flashg67
    • #7
    • 17th May 17, 7:29 PM
    • #7
    • 17th May 17, 7:29 PM
    GMAC is, AFAIK, owned by Vauxhall / General Motors who I believe do offer stock financing to dealers
    • forgotmyname
    • By forgotmyname 17th May 17, 8:16 PM
    • 25,279 Posts
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    forgotmyname
    • #8
    • 17th May 17, 8:16 PM
    • #8
    • 17th May 17, 8:16 PM
    If you think the dealer is dodgy why buy from them?
    Punctuation, Spelling and Grammar will be used sparingly. Due to rising costs of inflation.

    My contribution to MSE. Other contributions will only be used if they cost me nothing.

    Due to me being a tight git.
    • markfj
    • By markfj 17th May 17, 10:22 PM
    • 433 Posts
    • 161 Thanks
    markfj
    • #9
    • 17th May 17, 10:22 PM
    • #9
    • 17th May 17, 10:22 PM
    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
    • By Nodding Donkey 18th May 17, 3:20 AM
    • 2,367 Posts
    • 1,976 Thanks
    Nodding Donkey
    If you think the dealer is dodgy why buy from them?
    Originally posted by forgotmyname
    Are then any car dealers that aren't dodgy in some way?
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