outstanding finance

cococlown

I am thinking of buying a car that has outstanding finance on it, can i buy the car? if i buy it will i be liable for the outstanding balance.
Any advice gratefully recieved

Steve

vaio

If you buy it knowing it has outstanding finance then if the finance doesn’t get paid you could end up losing the car.

cococlown

Thanks for replying
what if you get a letter of receipt from the seller saying he would pay it off and i was not liable

forgotmyname

Worthless. HPI the car and contact the finance company and pay them directly, Then give the balance to
the current keeper.

Dont trust the seller to provide the finance contact details. Only go by the HPI report.

Any problems walk away.

cococlown

Thank you for your help

steve:j

Hintza

You need to tie in with the seller, get hold of his settlement figure and yo could pay it direct or at least have proof that it has been paid. Tread warily but it shouldn't be a real problem to come up with a plan.