Buying a Bike SecondHand with HPI

lancebond · 22 August 2011 at 12:26PM

i'm looking at a motorbike, the kid selling it has admitted there is outstanding finance on it, he has said the money from the sale will be used to clear the finance.

now, not being cynical or anything... but what happens if i purchase the bike, he decides that he's not going to pay off the finance (apart from him getting a nice matching set of broken legs)

fadetogrey · 22 August 2011 at 12:29PM

lancebond wrote: »

i'm looking at a motorbike, the kid selling it has admitted there is outstanding finance on it, he has said the money from the sale will be used to clear the finance.

now, not being cynical or anything... but what happens if i purchase the bike, he decides that he's not going to pay off the finance (apart from him getting a nice matching set of broken legs)

Its still belongs to the hpi company until they are paid.If you give him the money you have no say in how he spends it so Id walk away from this one.

Gordon_Hose · 22 August 2011 at 12:40PM

haha, I'd leave it well alone. If he doesn't pay the HP then the finance company can take it away from you.

ridethelightning · 22 August 2011 at 1:21PM

Why not take the amount of outstanding finance off the final cost you agree to pay for the bike and transfer the finance over to yourself and pay it off? You could even negotiate a bit off the price for this inconvenience.