outstanding finance issue

jagter

The car that i'm looking for a jaguar f-pace. The seller is a dealer. When they send me the deposit letter for the car, I checked the vehicle registration number and it has outstanding finance issue.
I let the dealer know about the situation and they said any outstanding finance has been paid on the Jag and we will warranty that for you.

Is this a normal process? All the article that I've read says don't buy and walk away if there is an issue about outstanding finance but I'm stil not sure about it. If the seller is a dealer, is it a normal process? I'm thinking the situation is likely someone is selling his house (but he is still paying his mortgage)

Can you advise what should I do? Is this a definitely walk away situation or should i ask some other things? I don't know maybe a paperwork that secure me, etc.

neilmcl

It's quite common and nothing to be worried about. A lot of dealers use finance to purchase their stock which is then cleared when the vehicle is sold. It would be illegal for them to sell you car without good title.

lesalanos

Normal process that the finance will be paid off when purchased.

If you are concerned you could always ring the finance company

BOWFER

It won't be finance in the way you're thinking, that the original owner hasn't paid it off.
It'll be dealer specific finance that they use to manage their stock.
I forget the name of the most common one, but I've seen it mentioned on many HPI checks.