Used Car - Background Check

only_forever

Hi All,


thanks for reading, any advice re below would be hugely appreciated.


I am in the process of buying a used car, my current car is a lease and all my previous were bangers, this is the first time I have bought a car with "serious" money


I have found a car im interested in, whilst its a decent deal its certainly not "too good to be true", the garage its in has largely positive reviews on line


My concern is a rang today and asked for the full reg so I could pay to have a background check done, they guy on the phone said I could see his copy to save me money but that it would show outstanding finance to Santander as this is the way that they purchase vehicles (effectively a short term loan which give them 3/6 months to move it on at a profit) on the phone he sounded plausible but I was hoping that somebody with experience of the industry could tell me if this is legit or if im walking into a well rehearsed scam?


Along similar lines (maybe this is on wring board) I am taking a loan for the majority or the purchase, my idea was to transfer the loan and the money I have saved onto my credit card (giving it a large credit balance) and use this for the purchase to get the additional consumer protection and was wondering if this would be the case.


thanks for reading and any steer would be appreciated


cheers


Liam

bigadaj

Dealers will finance stock to maximise their working capital, it's not unusual.

In terms of the credit card then what fee will teh dealer be charging? Also you can't put a credit card into a positive balance its against the terms and conditions.

You can pay a small amount on credit card to get the section 75 protection which the dealer should be alright with.

Otherwise you can transfer the loan by using a money transfer credit card, you'll need to do the sums to see if it's worthwhile as there will probably be a fee. There's not too many providers that do this, mbna are or were one but check the options with your oreferred provider.

System

As above, perfectly normal. My Mondeo had finance from Black Horse Dealer Finance when I did a HPI check on it when buying from a dealer. I phoned up Black Horse and they confirmed this is how many dealers finance vehicles.

only_forever

thank you both for your help