1st Car help!!!

anewman

Sounds to me like they can't afford the finance and are after a quick fix. I wouldn't touch it myself as it will end in tears. You can get a newer one with less mileage for £900 http://search.autotrader.co.uk/es-uk/www/cars/ROVER+25/Ne-2-4-5-6-7-8-27-44-49-53-61-64-67-103-133-146-236,N-12-240-4294966633-4294966929/advert.action?R=200850325347922&distance=49&channel=CARS&make=ROVER&model=25&min_pr=&max_pr=1000&max_mileage=&vehicleYearOfManufacture=2003&vehicleRegLetter=03 even then they're stating they will accept near offers.

Plus this will no doubt be £2k plus the interest.

harveybobbles

Marc25 wrote: »

thank you so much for any advice!

So we erm, gave advice...

peter_the_piper

You pay him, he forgets to pay finance company, they take back car.

MORPH3US

Oh dear,oh dear....

markelock

peter_the_piper wrote: »

You pay him, he forgets to pay finance company, they take back car.

there's more to this story than this I think. Even the blindingly obvious isn't putting the OP off.

Pew_Pew_Pew_Lasers!

Never mix friends and money. And £2000 for a Rover 25 is a ripoff.

Conor_3

Hintza wrote: »

Well if you don't want views this is not the pace to come.....wait until Conor get's here!!

And I've arrived.

OK, as mentioned elsewhere, the car is not his to sell. You are trusting him to make the payments. If he doesn't make them and the finance company repossess the car, you cannot stop them taking it as it is their property. You would have no recourse against the finance company and would have to pursue your friend for the money. I suppose one way around this would be to have the payments to the finance company come straight out of your account.

Some finance companies would consider transferring but you would have to be accepted for the finance so you might as well go for it yourself anyway.

Insurance is irrelevent. You can insure any car you want, even one you don't own. Most companies like you to be the registered keeper but again, that's not a problem but is likely to cost you a bit more. FULLY COMP IS NOT A SAFEGUARD. They will only pay out the market value of the car at the time of the accident, not what you bought it for or what is outstanding. Currently a 02 Rover 25 is not worth £2k.

Finally. £2k for an 02 plate Rover 25? Are you mad? You can buy a 53 plate Mondeo TDCi with 70,000 miles on for £200 less which is half the price it was last year.

2002 Rover 25 1.4, 44000 miles, £1,495
2003 Rover 25 1.4 £1,195
2003 Rover 25 1.4 £1,495

Neil_Peters

Pretty much along the lines with everyone else, it's not his to sell, misses a payment or two and bang, the car has been taken back by the finance company.

And as others have said, 2 grand for a Rover? Steer away from Rover, not exactly the best car you can have.

CHR15

I think Marc25 is the owner of the car and is trying to offload it to some sucker (is that where the 25 in the username comes from??)

That would explain the hostility towards the givers of good advice.