Question reguarding HPI check!!

[Cormac]

Found a nice Citroen xsara HDi VTr coupe which will do me as a good winter driver untill i get my novas sorted for nxt summer.. only problem is i did a hpi check on it and it turns out there finance owed on it.. I contacted the seller and he sent me this msg


It is against the law to sell anything with outstanding finance and i would never break that.I am sick to death of people asking about the hp, 3 times per day i get called about it and there concerns about wether it will be paid or not, im more bothered of the amount of money i have to add to settle it especially when i arnt that deaperate to sell it. As said it will be paid when car sells and proof will be whitnessed by the buyer on day of collection and reciept given to that effect.If you dont want the car thats fine.Thankyou for your time and interest.


Im still keen to buy the car and i know it would be foolish to buy with outstanding finance as car could be taken off me etc but surely if he's given me proof of the debt being paid then it would be fine???

Cheers in advance

[Jack]

Sounds like he's going to use the money from selling the car to settle the debt owed on it.

So theoretically, he is selling the car with the outstanding finance on it; so yes he IS breaking the law. If he can pay off the debt just before he sells the car, why not pay it off now? Sounds fishy to me.

I'd walk away from it if I was you.

[Cormac]

He promices me that proof of settlement will be provided when i lift car, sounds fair enough to me?? So the debt will actully be settled before he sells....

[mikey14sr]

Have known people sell cars like this and then not pay off the finance, move out of town and change banks etc to avoid being caught. If that happens the bacon will likely turn up with someone from the finance company and take the car away, most likely for crushing and you won't see a penny of compo.

[RJM25R]

Have known people sell cars like this and then not pay off the finance, move out of town and change banks etc to avoid being caught. If that happens the bacon will likely turn up with someone from the finance company and take the car away, most likely for crushing and you won't see a penny of compo.

Correct. I sell cars for a living, and the ONLY way to do this, is for YOU to pay the finance off on a card over the phone when you collect it, and give him the difference in cash, IE you agree to deal at ?3000, he has ?2500 outstanding you ring his finance with him there (He will have to confirm all his details, DOB, agreement number etc) and you pay the ?2500 DIRECTLY TO THE FINANCE COMPANY, and give him ?500 in cash and take the car.

Be wary, he may be in negative equity, ie woe more on it than it's worth and a lot of people sell the car for cash then let it get re-possessed off the person who took it (YOU!)

My advice as a qualified, FSA certified seller of cars and finance, is to walk away as there are LOADS of cars ou there without finance on them.

ps HE DOESN'T OWN THE CAR UNTIL HE MAKES THE FINAL PAYMENT AND THE TITLE IS PASSED TO HIM ANYWAY, SO HE IS NOT REALLY ENTITLED TO SELL THE CAR AND SETTLE THE FINANCE, HE SHOULD SETTLE THE FINANCE BEFORE YOU TAKE THE CAR.

[smcgsi16v]

^^^^^^Have to agree with above.
Just walk away is my advise.

[Cormac]

Cheers for the comments guys, Another msg from him--



I do understand your concerns to do with the finance which is fine but as i told you it is against the law to sell the car without settleing it.My finances are to do with me and not you but i will say that i have contacted my finance department for the settlement figure in writting with clear instructions of how and when to pay of which i am following.I will give you company name and number with agreement number to phone to confirm when all settled.On your day of collection you will see the agreement form with cheuqe and envelope posted whilst you watch.That is more than good enough and the best i can do and all i will do as that is the only way i can afford to.These messages are saved for ebay to read.Yours to me and mine to you.If you dont want the car then say now if you do then hope to see you tuesday evening with payment in full.
Best regaurds,
James


I personaly think this guy is genuine, i bought and sold a fair few cars down the years and usually get a felling if they seller is genuine and he seems it.. If he provides me with all the recipts i require as proff he has settled then thats good enough for me.. Too good a car too miss..

[Jack]

ps HE DOESN'T OWN THE CAR UNTIL HE MAKES THE FINAL PAYMENT AND THE TITLE IS PASSED TO HIM ANYWAY, SO HE IS NOT REALLY ENTITLED TO SELL THE CAR AND SETTLE THE FINANCE, HE SHOULD SETTLE THE FINANCE BEFORE YOU TAKE THE CAR.
Spot on.

[Mike]

Regardless of what he says, i would not, no way, not ever never ever buy said car, nor any other with the same problem!

Anyone can appear genuine, and you sure as feck would appear genuine if you could easily write off a substanial amount of debt just like that ;)

[chris gsi]

i would try to find another car as he said he would post the cheque in front of you but is the cheque any good i would be happer if it was paid by card over the phone if you realy want the car

[Riggy]

nothing to stop him cancelling the check after you go ,

i would do as rick said and pay the finance yourself if he will let you