We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
HPI Check - Outstanding Finance
Options
anna2121uk
Posts: 43 Forumite
in Motoring
Hi Guys,
I am about to buy a car and did a car check which came back fine - but suddenly realized last night that this didn't cover the HPI. Anyways meant to be buying it on Tuesday and handing over the cash, so did a check and it came back with Outstanding Finance - Black Horse Personal Loan it then says "The lender has no claim on or interest in the vehicle but has registered the existence of a personal loan as part of the
Governments Responsible Lending drive."
This indicates to me that although a loan was issued for the car the lender cannot take it away as it is a personal loan - can someone confirm, am really gutted as i am now paranoid there will be a problem?
Any help would be much appreciated
I am about to buy a car and did a car check which came back fine - but suddenly realized last night that this didn't cover the HPI. Anyways meant to be buying it on Tuesday and handing over the cash, so did a check and it came back with Outstanding Finance - Black Horse Personal Loan it then says "The lender has no claim on or interest in the vehicle but has registered the existence of a personal loan as part of the
Governments Responsible Lending drive."
This indicates to me that although a loan was issued for the car the lender cannot take it away as it is a personal loan - can someone confirm, am really gutted as i am now paranoid there will be a problem?
Any help would be much appreciated
0
Comments
-
That means that the Lender (Black Horse) now has NO INTEREST in the car, therefore all clear. We used to see this a lot at the dealership where I worked. Don't worry!'Just because its on the internet don't believe it 100%'. Abraham Lincoln.
I have opinions, you have opinions. All of our opinions are valid whether they are based on fact or feeling. Respect other peoples opinions, stop forcing your opinions on other people and the world will be a happier place.0 -
Thats great news - I thought that was the case but was worried I would hand over cash tomorrow and then 6 months down the line someone would take the car away from me
Thanks0 -
It's another example of companies baffling people with hard to understand jargon... don't fret about being worried, it's a confusing world full of people hell bent on making it hard for us!! Hope that the car is a good one!'Just because its on the internet don't believe it 100%'. Abraham Lincoln.
I have opinions, you have opinions. All of our opinions are valid whether they are based on fact or feeling. Respect other peoples opinions, stop forcing your opinions on other people and the world will be a happier place.0 -
You can ring the finance company to confirm this ask for the name of the person on the phone date it etc and keep it with your vehicle file for any future reference
well done for doing a hpi by the way
now the frightening bit
are you aware of the newer type of log book loan where the log book loan company (not all i might add so it gets murky) have the log book but not the car and dont register it as having lien on it on the hpi database as alert0 -
Well done SB, that's really going to put the frighteners on this person..... plank'Just because its on the internet don't believe it 100%'. Abraham Lincoln.
I have opinions, you have opinions. All of our opinions are valid whether they are based on fact or feeling. Respect other peoples opinions, stop forcing your opinions on other people and the world will be a happier place.0 -
Advice....'Just because its on the internet don't believe it 100%'. Abraham Lincoln.
I have opinions, you have opinions. All of our opinions are valid whether they are based on fact or feeling. Respect other peoples opinions, stop forcing your opinions on other people and the world will be a happier place.0 -
hi there,
thanks for the advice guys. Luckily whilst researching my HPI check online, I did find some info on log book loans. I have been to see the vehicle and checked all paperwork and seen the logbook, which all looks in good order. Thanks for all the help regarding the HPI along with you guys and my trusty old mum, you have made me calm down this morning.
:rotfl:0 -
-
it's not the spelling it's that advise means something else....'Just because its on the internet don't believe it 100%'. Abraham Lincoln.
I have opinions, you have opinions. All of our opinions are valid whether they are based on fact or feeling. Respect other peoples opinions, stop forcing your opinions on other people and the world will be a happier place.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.7K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards