Buying a car with outstanding finance

nordmaroc

Just an update i finally got the car, had to wait for number plate change then paid money directly to the finance company and got an email confirmation while at his home, then got seller to write out a receipt as at that point it was his and he informed Dylan, then i took possession of the car with new keepers green slip. I took a risk which in hindsight i would not take again, if a seller is unable to settle finance i will walk away next. Anyway thanks for the advice.

cymruchris

nordmaroc said:

Just an update i finally got the car, had to wait for number plate change then paid money directly to the finance company and got an email confirmation while at his home, then got seller to write out a receipt as at that point it was his and he informed Dylan, then i took possession of the car with new keepers green slip. I took a risk which in hindsight i would not take again, if a seller is unable to settle finance i will walk away next. Anyway thanks for the advice.

Glad it all worked out - hopefully you've now got the car you wanted for a reasonable price

DoaM

Why didn't you do the keeper change online? (Or did you, but you also took the green slip as backup?)

nordmaroc

Yes did the keeper change online and kept green slip but as someone pointed out v5 is not proof of ownership

AdrianC

nordmaroc said:

Yes did the keeper change online and kept green slip but as someone pointed out v5 is not proof of ownership

Nothing is.

The closest you will come is a receipt from the previous owner. Quite how you prove THEY owned it is another question, of course.

nordmaroc

That’s what i thought once i paid the finance off it became his, i made sure the receipt had a time after i had paid the finance, it was just piece of mind wether it held up in court is another thing.

BOWFER

Sounds like it all went well enough, so why wouldn't you repeat it?

Jackmydad

AdrianC said:

nordmaroc said:

Yes did the keeper change online and kept green slip but as someone pointed out v5 is not proof of ownership

Nothing is.

The closest you will come is a receipt from the previous owner. Quite how you prove THEY owned it is another question, of course.

Absolute proof would be quite a puzzle when you think about it.
In theory I suppose you'd need the paper trail of receipts  back to the original delivery invoice for the dealer who sold it.
Good job it's rarely that complicated!

DoaM

This would be a civil claim situation ... these are judged on the balance of probabilities (more likely than not) rather than beyond reasonable doubt. Being the registered keeper of the vehicle would be sufficient evidence to confirm ownership without there being more-compelling evidence to the contrary. Add in the OP's payment to the finance co and their receipt from the original seller then you have as clear-cut a case as you can reasonably expect.

nordmaroc

Thank, i hope this helps anybody looking at buying a car with outstanding finance, i was looking for almost a year and practically all private sellers had some sort of finance to clear even a couple of dealers who said it would be cleared as soon as I put a deposit down, I quickly walked away.