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Outstanding Finance On Used Car Purchase - Help!
Hoping someone can advise on this.
I've paid the deposit on a used car and am due to collect it and pay for it on Monday.
I've run the necessary vehicle checks and they have come back warning me there is outstanding finance.
Spoke to the finance company and they confirmed this to be true. They told me over the phone that when we buy the vehicle the dealer will pay them the outstanding settlement figure The way they spoke this was a pretty regular state of affairs and weren't at all alarmed that a vehicle they had outstanding finance on was being sold.
The dealer is an official Ford dealership so it's not some back street dodgy car seller and i've contacted them for confirmation of all of this.
Is there something I need to get from them in writing to confirm that they are responsible for any outstanding finance on the vehicle so I don't get caught out or should I just cancel the purchase?
Obviously a little concerned as i've never bought a vehicle with finance outstanding on it and always thought this was a big no-no.
I've paid the deposit on a used car and am due to collect it and pay for it on Monday.
I've run the necessary vehicle checks and they have come back warning me there is outstanding finance.
Spoke to the finance company and they confirmed this to be true. They told me over the phone that when we buy the vehicle the dealer will pay them the outstanding settlement figure The way they spoke this was a pretty regular state of affairs and weren't at all alarmed that a vehicle they had outstanding finance on was being sold.
The dealer is an official Ford dealership so it's not some back street dodgy car seller and i've contacted them for confirmation of all of this.
Is there something I need to get from them in writing to confirm that they are responsible for any outstanding finance on the vehicle so I don't get caught out or should I just cancel the purchase?
Obviously a little concerned as i've never bought a vehicle with finance outstanding on it and always thought this was a big no-no.
0
Comments
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It is not unusual for dealers to finance their stock. If this is an official Ford dealership you should have no issues.0
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If your buying from a main dealer you will have nothing to worry about.0
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Speak to the dealer about it and before signing/handing over money, ensure you're comfortable that the finance will be cleared and you understand when that will happen.
As others have said, a Ford dealer shouldn't try to pass finance on.0
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