Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

    • AndyBSG
    • By AndyBSG 16th Mar 17, 10:39 AM
    • 955Posts
    • 1,185Thanks
    Outstanding Finance On Used Car Purchase - Help!
    • #1
    • 16th Mar 17, 10:39 AM
    Outstanding Finance On Used Car Purchase - Help! 16th Mar 17 at 10:39 AM
    Hoping someone can advise on this.

    I've paid the deposit on a used car and am due to collect it and pay for it on Monday.

    I've run the necessary vehicle checks and they have come back warning me there is outstanding finance.

    Spoke to the finance company and they confirmed this to be true. They told me over the phone that when we buy the vehicle the dealer will pay them the outstanding settlement figure The way they spoke this was a pretty regular state of affairs and weren't at all alarmed that a vehicle they had outstanding finance on was being sold.

    The dealer is an official Ford dealership so it's not some back street dodgy car seller and i've contacted them for confirmation of all of this.

    Is there something I need to get from them in writing to confirm that they are responsible for any outstanding finance on the vehicle so I don't get caught out or should I just cancel the purchase?

    Obviously a little concerned as i've never bought a vehicle with finance outstanding on it and always thought this was a big no-no.
Page 1
    • MEM62
    • By MEM62 16th Mar 17, 11:37 AM
    • 1,529 Posts
    • 1,154 Thanks
    • #2
    • 16th Mar 17, 11:37 AM
    • #2
    • 16th Mar 17, 11:37 AM
    It is not unusual for dealers to finance their stock. If this is an official Ford dealership you should have no issues.
    • foxy-stoat
    • By foxy-stoat 16th Mar 17, 12:30 PM
    • 1,589 Posts
    • 871 Thanks
    • #3
    • 16th Mar 17, 12:30 PM
    • #3
    • 16th Mar 17, 12:30 PM
    If your buying from a main dealer you will have nothing to worry about.
    • dannyrst
    • By dannyrst 16th Mar 17, 1:04 PM
    • 1,405 Posts
    • 711 Thanks
    • #4
    • 16th Mar 17, 1:04 PM
    • #4
    • 16th Mar 17, 1:04 PM
    Speak to the dealer about it and before signing/handing over money, ensure you're comfortable that the finance will be cleared and you understand when that will happen.

    As others have said, a Ford dealer shouldn't try to pass finance on.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

29Posts Today

3,175Users online

Martin's Twitter
  • RT @mmhpi: Third time lucky? After being delayed twice, tomorrow MPs are due to debate our #RecoverySpace proposals in parliament. @helen_u?

  • Just a quick note. I've been overwhelmed by the strength of support by my campaign to stop facebook fake ads today?

  • RT @mmhpi: On the eve of tomorrow's #RecoverySpace debate in parliament, we just delivered our 10,000 letters to the Chancellor. People in?

  • Follow Martin