HPI Finance outstanding, how do I find out who to and how much?

colino

I wonder what the wisdom is of doing an HPi check, finding out there is outstanding finance, then buying it anyway?

harveybobbles

The OP hasnt bought the vehicle yet....................

harveybobbles

forgotmyname wrote: »

They discussed a loan/finance agreement with a 3rd party.

So when I take a car in part exchange I'm not allowed to do a HPi check as its breaking the DPA? Get real...

JPS29

harveybobbles wrote: »

The OP hasnt bought the vehicle yet....................

Exactly as above. I am going loading the vehicle on my truck, take the vendor into the logbook loans shop, settle the finance there and then get a letter of satisfaction and the logbook, mot certificate. This way there is no risk to me as opposed to me paying the vendor then them settling the finance at a later date. No money will pass from me to the vendor, simply striaght to the logbook loans people with him making up the shortfall at the same time.

Told you I had a plan:D

colino

Apologies if your trade too, but would add the caveat that the folks who can no longer access sub-prime are drifting into logbook/payday loans and the cars are even less looked after than the crisis bargains that used to be around.

bigjl

colino wrote: »

I wonder what the wisdom is of doing an HPi check, finding out there is outstanding finance, then buying it anyway?

In that situation there would be no wisdom whatsoever.

Which as stated the OP hasn't done.

He may be able to negotiate with the finance company as they won't really want to dispose of a non runner, cost too much normally, though I have seen one or two cars being sold as seen on eBay that have been reclaimed by similar companies.

The way the OP has said he will deal with it is the proven way to deal with this situation, deal with the legal owner every time.

JPS29

@colino.

Fully understand where you come from mate. However it has 11 months mot and the engine only packed up a month after it passed this. As its a van I have had detailed photos of the front interior, unmarked etc, and the load area is pretty much clean dent free too. And tbh the money I'm paying for it I cant lose out even if worst case scenario I broke it and weighed the shell in.

JPS29

all sorted.

Went with seller to logbook loans, settled finance. Got letter of settlement confirming the same and that it will be removed from HPI register. Got logbook back. Got receipt from seller and I now have the van on the back of my truck just need to sort the replacement engine now. Special thanks to Harvey for pointing me in the right direction initially.

Hudson001

[FONT=&quot]If you are planning to buy a vehicle, then why to go for a second handle. I know that buying a brand new car or truck is not that easy thing, but it has become much easier now. There are lot of finance companies out there, which are there to help us to buy new cars and trucks.



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Inactive

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