Paid Deposit on Car - Turns out it has Outstanding Finance

Ferdasyn

bigjl wrote: »

Why are you assuming the dealer is at fault?

They have live access to the hpi database or equivalent

The car would have been hpi'd when it was purchased or traded in.

This is the finance company dragging their feet.

They are the only ones that can remove the finance marker from the vehicle.

Apparently they have had this car in stock for quite a while, they had reduced the price just before I went to view it. Not sure if that has any bearing on it.

spacey2012

You could really do with finding the type of finance, dealer finance as a lot of stock is financed until sold or is it an outstanding previous keeper finance.
The fact the dealer appeared totally runaway would suggest the latter.

Ferdasyn

spacey2012 wrote: »

You could really do with finding the type of finance, dealer finance as a lot of stock is financed until sold or is it an outstanding previous keeper finance.
The fact the dealer appeared totally runaway would suggest the latter.

Dealer told me the other day 'Still waiting for Santander and previous owner to get back to us.'

Would suggest to me the previous owner of the car had Santander Consumer Finance taken out, and somehow it got to the dealer's forecourt without it clearing (although I'm probably well off the mark, I don't know how these things work).
The girl I spoke to at Santander did confirm they still had an interest in the car.

Whole thing is just dragging on though and not filling me with confidence.

motorguy

bigjl wrote: »

More iffy advice from Spacey

When you buy a car from a proper dealership you gain goos title.

Any debt would stay with the car dealership.

This is merely a paperwork delay whilst the finance is cleared.

Can take a day or up to a week for the hpi database to be updated.

Which is why somebody can get a logbook loan then quickly sell the car and it will show up clear.

A database is only as good as the info fed into it.

This is an extremely common occurance and nothing to be concerned about.

Unless it is a dodgy back street dealer who might disappear overnight.

As far as the internet lawyers screaming breach of contract! Really?:rotfl:

+1

I've had similar happen before when i was trading.

Can take a bit of time to sort out but most likely an admin error.

motorguy

atrixblue.-MFR-. wrote: »

now the finance company knows it been sold no doubt they would either pay a visit to the dealership to take it back, or just put a marker on it as stolen and wait for the police to pick it up.


either case OP would be out of pocket if the dealership did a bunk.


plus his costs of insuring it taxing etc.

Absolute nonsense.

They'll trace through where the discrepency has arisen and have it corrected.

Dont forget the dealership will be chosing from a number of finance companies they have available, so can you imagine how smart it would be for Santander to mark the car as stolen on a dealers forecourt?? How much business would they get from that dealer subsequently??

motorguy

Ferdasyn wrote: »

Dealer told me the other day 'Still waiting for Santander and previous owner to get back to us.'

Would suggest to me the previous owner of the car had Santander Consumer Finance taken out, and somehow it got to the dealer's forecourt without it clearing (although I'm probably well off the mark, I don't know how these things work).
The girl I spoke to at Santander did confirm they still had an interest in the car.

Whole thing is just dragging on though and not filling me with confidence.

Phone the dealership and ask to speak to the sales manager. Whilst its good Santander are being thorough this is not helping you.

If it doesnt suit you to wait, get your deposit back.

motorguy

I bought a 3 year old Corsa from a vauxhall main dealer for resale, and sold it on to a customer. A year later the buyer was on the phone to me as the car was showing up as having outstanding finance.

Took a few days to sort, but the finance company hadnt processed the Vauxhall dealers payment of the outstanding finance correctly.

Ferdasyn

Dealer now says this could be done by the end of the day, but no guarantee.
After tomorrow/Sunday, the soonest I could be there to pick it up again is in two weeks, so I've told them if not sorted today/tomorrow I will have to ask for my deposit back and look elsewhere.

motorguy

Ferdasyn wrote: »

Dealer now says this could be done by the end of the day, but no guarantee.
After tomorrow/Sunday, the soonest I could be there to pick it up again is in two weeks, so I've told them if not sorted today/tomorrow I will have to ask for my deposit back and look elsewhere.

I think thats fair - you've given them time to sort it and a time constraint to have it resolved within.

I would point out though that i doubt the finance company works over the weekend, so if its not solved today its unlikely there will be movement again until Monday.

spacey2012

What a finance company is more likely to do is wait for somebody to register it then they have an address to send the repo firm to.
They can not enter clearly defined private property, if it is parked on a street, or driveway with no locked gates it is an easy pick.

This leaves you with no car, no money and a dodgy dealer to chase.