Buying a used TV

klever

Hi

A friend has offered to sell his brand new smart TV (less than two months olf) for a very reasonable price.
I am very tempted but have few doubts which I would like help.

1. What about the warranties? He is giving me the Argos receipts and has not registered the TV with Samsung yet. So will I be able to use the remaining warraty when needed?

2) He also told me that he bought the TV on finance. Will it be safe for me to buy this? What will happen when he stops making the payments for whatever reasons. Will I still get the warranties? Will I be the legal owner of the TV and no one giving me trouble when I call the retailer when use the warranty and they notice there is outstanding amount?

Just want to be safe. And help is appreciated.

Cheers
K.

[Deleted User]

1) Unlikely. Warranties are not normally transferable. But you might get away with it.
2) If the finance is secured on the TV, a couple of big blokes could technically come over and rip it off your wall.

Arleen

If you want to be safe then don't do it as it sounds that your friend is up to no good unless he is taking the money you will give him for the tv and using that to repay the TV in full. If he isn't then it seems he is financial trouble and you can potentially tie yourself into it (although unlikely) if credit is tied to the item and they will determine that it was fake-sold just to protect it from debt collection.

Really seems like not a good situation to get into altogether.

nomoneytoday

Is the loan secured on the telly?


If so, then it's not your friends to sell..
If not, then crack on

klever

Thanks, all I know is he went to Argos to buy the TV. Was offered some finance offer by the sales person and he didnt had to pay instore. And he has got monthly installments to pay now.

Does this means loan is secured against the TV?

If so, wonder how amy stuff get sold on gumtree or ebay as who knows if there is some outstanding loan against the item being sold???

Surely I am missing something...

[Deleted User]

It's probably no secured on the TV, but you'd need to check the credit agreement to be sure.

Personally, I'd pass this one by and shop elsewhere. Buying stuff from friends rarely ends with high fives all round.

DCFC79

klever wrote: »

Thanks, all I know is he went to Argos to buy the TV. Was offered some finance offer by the sales person and he didnt had to pay instore. And he has got monthly installments to pay now.

Does this means loan is secured against the TV?

If so, wonder how amy stuff get sold on gumtree or ebay as who knows if there is some outstanding loan against the item being sold???

Surely I am missing something...

Then the 1 who took out the contract either stops paying the installments or continues to pay.

National_Debtline

Hi klever


A TV bought at Argos won't have had the finance secured against it. What your friend does with the TV is up to him; either way he and he alone will remain liable for any repayments due to Argos. He may plan to simply settle up the remaining balance if he sells you the TV, but that's his affair.


If it gives you peace of mind, ask to see the credit agreement he signed for this.


I can't offer a definitive answer on the warranty question, but chances are that if you have all the relevant paperwork you'd be able to invoke it if the need arose.


Dennis
@natdebtline

[Deleted User]

Do you suspect your friend will stop paying for the TV when you buy it from him?

If so, I wouldn't be taking his receipts to possibly present in the future as part of a warranty claim...

dealer_wins

OP leave it well alone. Friendships get ruined when money gets involved. Not worth the risk or possible hassle!

[Deleted User]

Depending on the price he paid for the TV he probably got 12 months free credit on it, how or when he decides to settle this is his business and I see no reason why he can't sell it to you.
As for the warranty that may be a different story