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Home > General > How to buy a car which has outstanding finance on it?

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Mike_C

Member Since: 19 Mar 2012
Location: Bucks
Posts: 184

2005 Range Rover Sport 4.4 V8 HSE Tangiers Orange

How to buy a car which has outstanding finance on it?

Morning all,

The RR Sport I'm buying has outstanding finance on it - the owner told me and gave me the policy number to confirm with the finance company. Due to Data Protection the company wouldn't confirm the amount but could confirm there is finance on it.

My question is, how do I buy the car and ensure the finance is paid off? Obviously I don't want to pay the seller and 'trust' them to pay off the finance because if they don't, I'm screwed.

Can I pay the finance company direct and transfer the rest to the seller? I will be buying the car for cash.

Any advice?

Cheers! - Range Rover Sport 4.4 V8 HSE G4 Challenge vehicle (FOR SALE)
- BMW 330Ci M-Sport coupe
- Suzuki GSX-R750 K6 'Stealth' - trackdays and high speed tourer

Sun May 06 2012 7:22am

Misery

Member Since: 07 Dec 2005
Location: Waiting for L405
Posts: 2555

Mike drop Kam a pm he will be able to advise you.

I'll pm you later today.

Sun May 06 2012 8:13am

timcom0

Member Since: 11 Jul 2009
Location: Sheffield
Posts: 235

2007 Range Rover Sport TDV6 HSE Java Black

Re: How to buy a car which has outstanding finance on it?

You could get him to ring for settlement whilst your there then he can authorise
them to confirm the figure on the phone then send the settlement figure out by post
which he then settles and no hpi visible, don't try rushing it as this is what causes problems another gent on here can vouch for that, carefully proceed but get him to settle would be my suggestion,
I have a 56(07) HSE Black new engine without any finance for sale:roll:

Sun May 06 2012 10:46am

eazy

Member Since: 27 Jan 2010
Location: Scotland
Posts: 122

i had a hell of a load of problems with finance deal not that long ago.. let the guy call the company and settle the deal via DEBIT CARD.. then ask the company to fax out a no interest finance clearance letter. once you've got that from the company you can go ahead with the deal. The car will be hpi clear. regards.

Mon May 07 2012 12:06am

Mike_C

Member Since: 19 Mar 2012
Location: Bucks
Posts: 184

eazy wrote:
i had a hell of a load of problems with finance deal not that long ago.. let the guy call the company and settle the deal via DEBIT CARD.. then ask the company to fax out a no interest finance clearance letter. once you've got that from the company you can go ahead with the deal. The car will be hpi clear. regards.

Thanks guys - sounds good to me! - Range Rover Sport 4.4 V8 HSE G4 Challenge vehicle (FOR SALE)
- BMW 330Ci M-Sport coupe
- Suzuki GSX-R750 K6 'Stealth' - trackdays and high speed tourer

Mon May 07 2012 8:11am

AteeqM

Member Since: 07 May 2012
Location: Ilford
Posts: 4

2012 Range Rover Sport SDV6 Autobiography Orkney Grey

Re: How to buy a car which has outstanding finance on it?

timcom0 wrote:
You could get him to ring for settlement whilst your there then he can authorise
them to confirm the figure on the phone then send the settlement figure out by post
which he then settles and no hpi visible, don't try rushing it as this is what causes problems another gent on here can vouch for that, carefully proceed but get him to settle would be my suggestion,
I have a 56(07) HSE Black new engine without any finance for sale:roll:

Definately

Mon May 07 2012 5:40pm

x5pea

Member Since: 03 May 2007
Location: Lanarkshire
Posts: 2097

2010 Range Rover Sport 3.0 TDV6 HSE Santorini Black

just don't ask "easy" sorry i had to

Mon May 07 2012 7:24pm

Beancounter_74

Member Since: 11 Oct 2011
Location: Down here now...
Posts: 5796

^^^ thats not true X5, eazy could offer a great 'what not to do' guide ON THE WAY: BMW F21 M140i
MERCEDES GL350 - Metallic Navy Blue w/Grey interior

GOING: BMW F31 335D MSport+ xDrive Touring
GONE: Land Rover Discovery 4 HSE - Stornaway Grey w/Black Interior (wish we'd kept it )
GONE: BMW F10 520D MSport - Carbon Black
GONE:MY12 RRS SDV6 HSE Sumatra/Ivory/Grand Black Privacy glass

Mon May 07 2012 7:31pm

wilburn

Member Since: 09 Aug 2010
Location: Shropshire
Posts: 82

2010 Range Rover Sport 3.0 TDV6 HSE Nara Bronze

Re: How to buy a car which has outstanding finance on it?

timcom0 wrote:
You could get him to ring for settlement whilst your there then he can authorise
them to confirm the figure on the phone then send the settlement figure out by post
which he then settles and no hpi visible, don't try rushing it as this is what causes problems another gent on here can vouch for that, carefully proceed but get him to settle would be my suggestion,
I have a 56(07) HSE Black new engine without any finance for sale:roll:

But how do you know he isn't phoning his mate who is posing to be the finance company?

Wed May 16 2012 11:43am

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