Car being sold

GSDlover13

I know if a car that is being sold with outstanding finance Can or should this reported and who to 

[Deleted User]

If a car is being sold with outstanding finance still in existence that lender will have to have the monies repaid, by the person who bought it.
The HPI (hire purchase investigation) is what's going to tell you further information.
Not entirely sure, though, if it would tell the lender.
As it's secured against the vehicle, no repayments = repossessed = no car that you've just paid your hard earned money for.

jimjames

It's entirely possible that the car is being sold and the money raised will be used to settle the finance. Or are you in possession of information that suggests the sellers will not do that?

motorguy

GSDlover13 said:

I know if a car that is being sold with outstanding finance Can or should this reported and who to 

Depends on the circumstance

• If its a dealer its very possible finance is showing up if hes financing his stock.

• If its a private seller, theres nothing at all to stop them advertising the car for sale then having the buyer clear the finance (or more riskily for the buyer, the seller then using the funds to clear the finance)

• If the car is knowingly being sold with a view to the seller NOT clearing the finance, then (a) how do you know that and (b) it would really be down to the buyer to be HPI'ing the car first anyway (though there are people who dont bother doing that).

MEM62

GSDlover13 said:

I know if a car that is being sold with outstanding finance Can or should this reported and who to 

Nobody.  It is a matter between the seller and finance company.  

ontheroad1970

MEM62 said:

GSDlover13 said:

I know if a car that is being sold with outstanding finance Can or should this reported and who to 

Nobody.  It is a matter between the seller and finance company.  

Agreed, unless you are proposing to buy the car and they won't let you pay the finance house holding the interest in the car.

MEM62

ontheroad1970 said:

MEM62 said:

GSDlover13 said:

I know if a car that is being sold with outstanding finance Can or should this reported and who to 

Nobody.  It is a matter between the seller and finance company.  

Agreed, unless you are proposing to buy the car and they won't let you pay the finance house holding the interest in the car.

If that were the case, I am sure that the OP would have worded their enquiry differently.  

ontheroad1970

MEM62 said:

ontheroad1970 said:

MEM62 said:

GSDlover13 said:

I know if a car that is being sold with outstanding finance Can or should this reported and who to 

Nobody.  It is a matter between the seller and finance company.  

Agreed, unless you are proposing to buy the car and they won't let you pay the finance house holding the interest in the car.

If that were the case, I am sure that the OP would have worded their enquiry differently.  

There is more than one way to read the sentence so that it doesn't apply to a particular person.  I didn't say the OP specifically, or else I would have written unless the OP...