Car with finance

RHemmings

http://www.autotrader.co.uk/classified/advert/201612190716906?onesearchad=Used&onesearchad=Nearly%20New&onesearchad=New&model=LEAF&aggregatedTrim=%2830kwh%29&advertising-location=at_cars&radius=1500&make=NISSAN&sort=price-asc&postcode=le39td&page=1

I'm not too serious about buying a car at the moment, but keep an eye on the cost of second hand Nissan Leafs as I'm 'thinking about' one.

Just a curiosity question. This listing says that there is finance on the car, but that it will be paid off with money from the sale and the purchaser will receive confirmation from the finance company before the seller drives the car home.

Despite that assurance, my first thought is to not touch this with a bargepole. As in if things don't go as described, proving that I was an 'innocent purchaser' may be hard as I knew that there was finance.

Any thoughts on this?

Geodark

You could always ask about paying the finance remaining on the car direct to the finance company and any outstanding balance direct to him.

RHemmings

Geodark wrote: »

You could always ask about paying the finance remaining on the car direct to the finance company and any outstanding balance direct to him.

That's a good point. It would still require an HPI check to check that any finance company mentioned by the seller is the only finance company with an interest in the car.

As I said: I'm just thinking about things at the moment with no immediate plan to purchase. Is it true that logbook loans now turn up on HPI checks?

motorguy

RHemmings wrote: »

That's a good point. It would still require an HPI check to check that any finance company mentioned by the seller is the only finance company with an interest in the car.

As I said: I'm just thinking about things at the moment with no immediate plan to purchase. Is it true that logbook loans now turn up on HPI checks?

Yes, you would ALWAYS pay the finance company direct.

They will then issue you with an email / letter to say they have no longer a financial interest in the vehicle.

I'd imagine it would be rare for two finance agreements to exist on the same car, but yes, definitely worth doing an HPI check.

RHemmings

Thank you both.

As I don't intend to buy tomorrow, I have time to do research. This thread being part of that.

I would not buy ANY second-hand car without a proper HPI check, no matter if I bought it from a dealer or what the seller told me. It seems that a clear HPI check is, more or less, needed to establish a purchaser as an innocent party should something come out of the woodwork.

forgotmyname

The fact they have finance is one thing the actual wording of that car would have me running for miles.... It reads like someone going through the sales brochure and seeing what may attract a buyer.

No mention of the battery lease?

If its so perfect why are they selling it after only 6 months?

2016 Leaf with JUST 2000 miles on the clock at Evans Halshaw for under £12,000. Why would you risk it from a private seller?
£12,000 from nissan dealers also.

RHemmings

forgotmyname wrote: »

The fact they have finance is one thing the actual wording of that car would have me running for miles.... It reads like someone going through the sales brochure and seeing what may attract a buyer.

No mention of the battery lease?

If its so perfect why are they selling it after only 6 months?

2016 Leaf with JUST 2000 miles on the clock at Evans Halshaw for under £12,000. Why would you risk it from a private seller?
£12,000 from nissan dealers also.

How do you know it's a leased battery model? Usually those ones state 'flex' somewhere in the listing. Not all Leafs have leased batteries. At leased battery model should be much cheaper than the one in the first link. I've been clicking the 30kw/hr option on autotrader. Perhaps not all 30kw/hr models are coming up.

I'll check out the Evans Halshaw car. I've been searching for the 30kw/hr battery model as the extra range over the 24kw/hr car is very very useful given the places I want to go (including range safety margins.)

EDIT: The 2016 Leafs @ Evans Halshaw for £12,000 are the Visia models, which have a smaller battery compounded by a less efficient regenerative drivetrain. The higher spec Accenta & Tekna models is thousands more expensive, but the additional range simply works out for me given where I want to go.

Halshaws has higher spec models available, but £18,000 minus change for 30kw/hr models.

forgotmyname

I didnt check the specs and details of the cars i mentioned. But if a dealer can sell the cars for a similar amount then a private seller should be considerably less.

Leaf 30KW Acenta, Trade seller from £15000. Why is a private sellers car worth more?

More importantly though just check the wording on the advert, do you really trust that?

Is the battery bought or leased? You will need to ask for proof and then contact Nissan to double check the battery status.