Bought a car with outstanding finance

Nina.thomas

Hi everyone,

Looking for some advice. I'm trying to buy a new (2ndhand)car, using my old car as part ex. I found a car and went to the dealer who was happy to do a deal. However, after telling him we had bought the car for cash he informed us that his checks showed that there was still outstanding finance on the car from the previous owners. :eek:The final payment has now been made and it will be all cleared by the 9th but we were shocked. We bought the car in 2006 from a dealer for cash and were never ever informed that it had outstanding finance. Surely if finance was outstanding, they shouldn't have sold us it?

I suppose what I want to know is if I can do anything about this? Advice please.

Nina

anewman

This is what HPI checks are for unfortunately.

Lemonade_Pockets

Go back to the original dealer from 2006 if they are still around. They should be liable for any finance outstanding when they sold you the car, or they should of told you about it and priced accordingly.

If the dealer is no longer around hard lines i'm afraid. Always either get your own checks done or ask to see a recent hpi check from the dealer.

ariba10

Thank your lucky stars.

If the previous owner who had taken out the HP had defaulted. The HP companyt could have come looking for the car

elvch01

Sounds like the original dealer was dodgy in the 1st place

sarah_elton

Never buy a second hand car without doing your own HPI check - regardless of how much you trust the dealer. They'll tell you not to bother - just do it anyway.

You can get them online - £19.95 for the original:
http://www.hpicheck.com/newfrontend/
down to £9.99 from the RAC:
http://www.rac.co.uk/vehicle-checks/car-data-check/
and some cheaper ones if you search

Unless you're buying a banger for peanuts, it's £10-20 very well spent for peace of mind. As others have said, if a car has finance on it and the previous owner defaults, the finance company can have the car off you.