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

Search
  • FIRST POST
    • markfj
    • By markfj 17th May 17, 1:08 PM
    • 436Posts
    • 161Thanks
    markfj
    Buying a car - Vehicle check shows its on finance
    • #1
    • 17th May 17, 1:08 PM
    Buying a car - Vehicle check shows its on finance 17th May 17 at 1:08 PM
    Hi guys

    I paid a deposit and agreed to buy a car via a dealership on Friday morning and to collect. I did a quick vehicle check and it showed the car in on finance through GMAC (UK) PLC

    Not bought from a dealer for a long time myself now, soive questioned this with the dealer and just emailed the finance company and awaiting replies. I'd have thought that it shouldnt be showing as on finance though?

    Thanks!
    Mark
Page 1
    • molerat
    • By molerat 17th May 17, 1:24 PM
    • 18,583 Posts
    • 12,737 Thanks
    molerat
    • #2
    • 17th May 17, 1:24 PM
    • #2
    • 17th May 17, 1:24 PM
    How do you think dealers can afford to have all those shiny motors on their forecourt ?
    www.helpforheroes.org.uk/donations.html
    • markfj
    • By markfj 17th May 17, 1:33 PM
    • 436 Posts
    • 161 Thanks
    markfj
    • #3
    • 17th May 17, 1:33 PM
    • #3
    • 17th May 17, 1:33 PM
    That's basically what I wanted to double check, I know I'might over cautious but there are some dodgy car dealers out there too.

    But I'm sure it's all fine, really.

    Cheers
    • SimonD316
    • By SimonD316 17th May 17, 3:01 PM
    • 315 Posts
    • 154 Thanks
    SimonD316
    • #4
    • 17th May 17, 3:01 PM
    • #4
    • 17th May 17, 3:01 PM
    90% of dealer used cars will be on a stock plan. As soon as it's sold they will pay off the finance. I wouldn't be too worried about it.
    • Oakdene
    • By Oakdene 17th May 17, 3:07 PM
    • 1,932 Posts
    • 7,091 Thanks
    Oakdene
    • #5
    • 17th May 17, 3:07 PM
    • #5
    • 17th May 17, 3:07 PM
    Yeah it'll be Lombard funding or something similar, where they have a certain amount of days to sell it before they dont get funding.

    As soon as you buy the car the sales admin will take it off funding & the money will come out of thier account.
    • Nodding Donkey
    • By Nodding Donkey 17th May 17, 3:51 PM
    • 2,533 Posts
    • 2,142 Thanks
    Nodding Donkey
    • #6
    • 17th May 17, 3:51 PM
    • #6
    • 17th May 17, 3:51 PM
    Remember that when you buy from a Bona Fide car dealer you have good title anyway, no matter what sort of finance is outstanding.
    • flashg67
    • By flashg67 17th May 17, 7:29 PM
    • 2,462 Posts
    • 1,610 Thanks
    flashg67
    • #7
    • 17th May 17, 7:29 PM
    • #7
    • 17th May 17, 7:29 PM
    GMAC is, AFAIK, owned by Vauxhall / General Motors who I believe do offer stock financing to dealers
    • forgotmyname
    • By forgotmyname 17th May 17, 8:16 PM
    • 26,948 Posts
    • 10,850 Thanks
    forgotmyname
    • #8
    • 17th May 17, 8:16 PM
    • #8
    • 17th May 17, 8:16 PM
    If you think the dealer is dodgy why buy from them?
    Punctuation, Spelling and Grammar will be used sparingly. Due to rising costs of inflation.

    My contribution to MSE. Other contributions will only be used if they cost me nothing.

    Due to me being a tight git.
    • markfj
    • By markfj 17th May 17, 10:22 PM
    • 436 Posts
    • 161 Thanks
    markfj
    • #9
    • 17th May 17, 10:22 PM
    • #9
    • 17th May 17, 10:22 PM
    Thanks all for clearing that up, I just wanted to double check especially as when I asled the dealer they said they would have to get someone to call me regarding it, but seems it's nothing to worry about.

    Forgotmyname - I never said I thought this dealer was dodgy
    • Nodding Donkey
    • By Nodding Donkey 18th May 17, 3:20 AM
    • 2,533 Posts
    • 2,142 Thanks
    Nodding Donkey
    If you think the dealer is dodgy why buy from them?
    Originally posted by forgotmyname
    Are then any car dealers that aren't dodgy in some way?
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

765Posts Today

6,357Users online

Martin's Twitter
  • It's the start of mini MSE's half term. In order to be the best daddy possible, Im stopping work and going off line? https://t.co/kwjvtd75YU

  • RT @shellsince1982: @MartinSLewis thanx to your email I have just saved myself £222 by taking a SIM only deal for £7.50 a month and keeping?

  • Today's Friday twitter poll: An important question, building on yesterday's important discussions: Which is the best bit of the pizza...

  • Follow Martin