Outstanding Finance on used car

beefturnmail

Going to view a used car a dealer's found me tomorrow.  It fills the bill for what I'm after so would buy if it checks out ok.    It's through their 'used and approved' scheme however I've run my own checks through the AA Vehicle history report.  This has come up with the following under Outstanding Finance:

• Agreement type:  Personal Loan
• The lender has no claim on or interest in the vehicle but has registered the existence of a personal loan as part of the Governments Responsible Lending drive. If you are concerned because the vehicle you are looking at has this type of finance, you should seek clarification from seller of the vehicle.

The lender is closed at the moment but going to ring them in the morning.  What sort of clarification should I be seeking from them and the dealer?  If it's a personal loan and the lender has no claim or interest then it couldn't come back to me if I bought the car?

Thanks

Grumpy_chap

Is this a car being purchased from a main dealer under the manufacturer's scheme?
If so, they will have cleared the finance on acquisition and this is simply a time-lag in the reporting to the credit agencies.

beefturnmail

Thanks yes - it's under Volvo Selekt.  I wondered if that was the case, but belt and braces, how can I comfort myself of this?

Grumpy_chap

Check with the finance company as you suggested.
I understand that the Volvo scheme will include indemnity any way.  Check with the supplying dealer.