Vehicle Check Warning - anything serious?

AMO

Hi there,

Looking to buy a car from Evans Halshaw.

Ran a check on the vehicle and it came back with this:

Finance status: Caution
There is adverse data about this vehicle so data check insurance doesn’t cover this section
There is an EXISTING FINANCE AGREEMENT OR LOAN recorded against this vehicle.
Finance Company: LOMBARD SPECIAL SCHEMES
Contact number: 0870 2424875
Agreement number: 20111878
Agreeement type: Unit Stocking
Vehicle Description: C4

Is this likely to be something to be concerned about or just Evan Halshaws way of paying/holding cars? Is it likely to be something Evans Halshaw related or the previos owner?

Thanks,

AMO

vax2002

see that telephone number, call it withn the other reference number and ask them

Visiondvd

Why bother, buy another car from somewhere else theres loads, rather than take a chance.

scheming_gypsy

http://www.hpicheck.com/types_of_finance.html

Unit Stocking

If you are buying from a dealer, you may come across this type of finance on your HPI report. Talk it over with your dealer, check their liability and get confirmation in writing that they will clear the finance on the car you are buying. Unit Stocking is a common type of finance agreement used by motor dealers to enable them to fund the vehicles on their forecourt.

Alias_Omega

Not exactly a small car dealership.


I would see this as a car that may have been P/x'd recently, which it still has outstanding finance from the previous owner. The finance would be cleared upon you purchasing the car, of which you could HPI check it again to clear your mind.

Though, feel free to show the dealer the information about the HPI results, and let them explain why it happens, and what they plan to do with it.

forward_thinking_2

Saw a similar thing when I bought my car from a big car supermarket and it showed as black horse finance unit stocking.

I rang black horse and they confirmed it was temporary finance used by the garage when they stock the car and it is paid off by the garage when it's sold. Made sense because the garage had hundreds of cars an that's a serious amount of cash they would need to have to own them all outright!

I confirmed this with the supermarket who noted on my sales invoice that it would be cleared. I also checked a few weeks later as I had a free hpi check and sure enough it was gone.

I bet a lot of used cars have finance like this but most people just accept that the dealers word that it been hp'd and is all clear.

In my opinion it's not an issue.

colino

I've got a better idea. While this will be shown as normal frictional finance, go to a local, independent trader and buy a better car for less money.