buying a car.....how to determine if finance is paid off?

dwhl

hi everyone,

merry xmas to you all and a happy new year!!

quick question, well actually a bit long winded...

am looking to buy a car from a private seller....the issue is that the seller has has finance on the car and tells me that all the money is now paid off.

as of yet, i have not seen any paperwork from the finance company to confirm this...he tells me that it has only just been sorted and hence the paperwork is on its way

i have done a hpi check(thinking that it would tell me if there is any finance outstanding) but all it does is give me a form to download which i think covers me if there is outstanding finance. is this ok? also, a complicating factor is that the seller is emigrating soon....if there is outstanding finance, despite the covering hpi finance form, will i be liable given that he will not be in the UK?

Am not sure what to do....i suppose i could ring the finance company with his details asking them to confirm the finance is paid off??

any help would be gratefully appreciated

david

h901

your best bet would be to phone the finance company and check if the finance has been paid off

dwhl

i presume that once they verbally agree it then i need the paperwork/photocopy of the paperwork to confirm it??

out of curiosity, if a seller was a scammer, what's to stop them taking out another "car loan" on the day that the sale is due to happen? or is that not possible if the seller is not buying a car that he is trying to take out the loan on??

thanks again

harveybobbles

Never heard of the form to download.

Never come across that in the 10,000 hpi's I've done

dwhl

hi there,
thanks for the replies thus far...
the form is sent to me from mycarcheck.com where i did the check on the car..i have pinned part of the info from the website below
""For only £3.95, we protect you from buying a vehicle that may be:

• Subject to Outstanding Finance2
• Stolen (Police Interest)
• Stolen & Recovered
• Write off / Total Insurance Loss (Recorded Accident Damage)
• Scrapped by the DVLA
• Subject to Plate Transfers
• Colour Changes

We also supply you with information on:

• Make and Model
• Number of Former Keepers
• VIN (Chassis Number) Check
• Engine Number and Size
• Exported
• Date First Registered
• Year Manufactured
• Colour

The results are displayed instantly and can be retrieved at any time for 30 days.

1. Subject to terms & conditions.
2. Finance protection requires completion of purchaser receipt, supplied on completion of car check.""

As you can see point 2 relates to the completion of a form for the "finance protection" this seems to imply that you will be protected from the finance company if you buy a car which has outstanding finance. am not sure whether it is only this company (ie mycarcheck) which does this...is it better to get a hpi check from hpi instead??

thanks again

harveybobbles

just do a propper hpi check...

https://www.hpi.co.uk

vansboy

harveybobbles wrote: »

Never heard of the form to download.

Never come across that in the 10,000 hpi's I've done

CRIKEY!

Thought I'd done a lot!!

VB