HPI Check - outstanding finance on a car from cargiant

mahe333

Hey All,

I found a car in cargiant and paid holding deposit(£200). They say all their cars are HPI clear and the sales agent was so confident and told me there is nothing to worry about the car. However I wanted to be sure and did and HPI check on my own. Found that there is outstanding finance of the car as the car was on PCP earlier. I am due to collect the car from cargiant next week and rang them up today to discuss this case. They said they will try to rectify it on Monday and will give a call back to confirm everything is clear. Now I need your advise on how to proceed next?

Is it best wait until I get confirmation from finance company in writing before I proceed with purchase of this car?
Or should I ring up finance company to check the status after receiving confirmation from cargiant to confirm the status of outstanding finance? Cargiant sounded totally against me calling up the finance company.

Now I am tempted to walk away however I dont know if they will return my holding deposit as this is not my fault.

Any advise will be highly appreciated.

System

Are you sure that the finance is from the PCP and not the dealer finance for purchasing the car? A HPI check won't tell you if it was PCP, just the name of the finance company. Very few dealers own the stock they sell and they buy them using car dealer finance from companies like Black Horse and they clear it when the car is sold. I had this on a car I was buying from a dealer, I phoned up Black Horse, they explained to me how it all worked.

mahe333

Thank you for the quick reply.

When I did HPI check it said the following

Agreement type: Personal Contract Purchase
Finance house: VOLKSWAGEN FINANCIAL SERVICES (UK) LTD

Also car giant said that they picked this car up on an auction(not sure how) and they forgot to get outstanding finance cleared. Now I'm very tempted to walk away. I really hope they will refund my holding deposit of £200 as it was not my mistake.

debtdebt

Wait until Monday and see what they say?

neilmcl

mahe333 wrote: »

Thank you for the quick reply.

When I did HPI check it said the following

Agreement type: Personal Contract Purchase
Finance house: VOLKSWAGEN FINANCIAL SERVICES (UK) LTD

Also car giant said that they picked this car up on an auction(not sure how) and they forgot to get outstanding finance cleared. Now I'm very tempted to walk away. I really hope they will refund my holding deposit of £200 as it was not my mistake.

That does sound a bit odd given that most reputable auctions are supposed to check the vehicles for sale are HPI clear in terms of good title.

ForexRay

I'm in similar situation. OP what was the end result for you? I paid a deposit on a car today that says has PCP finance on it. I'm yet to speak with the dealer as I noticed it late. £500 deposit is at stake here.