-
- Alternative Medicine
- Art And Entertainment
- Babies
- Blogging
- Board Games
- Business
- Buying & Selling
- Card Games
- Computer Games
- Computers
- Corporations
- Credit
- Diet & Fitness
- Finance
- Financial Services
- Gambling
- Health
- Higher Education (University +)
- Insurance
- Investing
- Loans
- Mathematics
- Online Gambling
- Other – Business & Finance
- Other – Careers & Employment
- Other – Games & Recreation
- Personal Finance
- Polls & Surveys
- Pregnancy
- Real Estate
- Renting & Real Estate
- Senior Citizens
- Shopping
- Small Business
- Sports And Fitness
- Travel
- Travel Tips
- Uncategorized
- Video & Online Games
- Video Games
- Wellness
-
Archives
- May 2010 (25)
- April 2010 (23)
- March 2010 (21)
- February 2010 (14)
- January 2010 (15)
- December 2009 (101)
- November 2009 (103)
- October 2009 (73)
- September 2009 (116)
- August 2009 (94)
- July 2009 (93)
- June 2009 (106)
- May 2009 (93)
- April 2009 (87)
- March 2009 (124)
- February 2009 (94)
- January 2009 (111)
- December 2008 (15)
- November 2008 (19)
- October 2008 (21)
- September 2008 (24)
- August 2008 (21)
- July 2008 (19)
- June 2008 (18)
- May 2008 (20)
- April 2008 (20)
- March 2008 (24)
- February 2008 (21)
- January 2008 (30)
- December 2007 (19)
- November 2007 (30)
- October 2007 (21)
- September 2007 (25)
- August 2007 (14)
- July 2007 (12)
- June 2007 (11)
- May 2007 (18)
- April 2007 (28)
- March 2007 (21)
- February 2007 (11)
- January 2007 (23)
-
Meta
#1 by Cammia on September 20, 2009 - 11:54 am
Quote
I wouldn’t bother! Too much effort
#2 by The Drunken Fool on September 23, 2009 - 4:50 am
Quote
You cannot guarantee that he will, and while he owes, its not his car to sell.
#3 by Happy Man on September 26, 2009 - 10:48 pm
Quote
Do not do it.
#4 by moktah on September 27, 2009 - 6:37 pm
Quote
don’t do it. if this guy fails to keep his word, you’ll be left having to pay the car off or having it reposessed.
#5 by DEBORAH S on September 30, 2009 - 4:01 pm
Quote
i would be inclined to avoid
#6 by predator on October 1, 2009 - 3:28 am
Quote
you have to have the payments put into your name.
but my advice is run like the wind!!
#7 by ? on October 3, 2009 - 10:12 am
Quote
If it’s on finance, then it belongs to the finance company until he’s paid it off in full – therefore it’s not his to sell. If he stops paying, the finance company will be entitled to take the car from you and sell it to get their money back, leaving you with no money and no car.
This guy sounds like a dodgy character – don’t get involved!
#8 by Lover not a Fighter on October 3, 2009 - 12:06 pm
Quote
>> he wants to pay them off once i purchase,
NO. Either he pays for it BEFORE you purchase it. OR you, the seller and the bank do a 3 way transaction at the bank office. Many banks will do this.
You pay the bank.
The bank release the title (on the spot)
The seller gets left over (or chips in the difference).
Good luck…
#9 by doggiedexter80 on October 5, 2009 - 5:50 pm
Quote
Hi buying a car/motorcycle from someone who has it on finance is no big deal.
If the seller is genuinely going to settle the HP then they should have no problems with you giving a cheque made out to the finance company plus the remainder made out to him.
Or at the purchase time, call the finance company from his place and pay them over the phone. Give the remaining balance to him in cash.
If he doesnt like these suggestions then walk away.
Check though through hpi check, as this gives the finance company that loaned him the money. Not all Finance is attached to the vehicle. They will tell you if you ring them. Normally they say ‘we dont hold title over this vehicle’ which means Mr Seller is liable not the owner of the vehicle, nor is the car under any threat of repossesion if he doesnt pay.
We settle hp on loads of part ex bikes coming through the door
Black horse, is a major lending company in the uk for car/bike finance and they dont hold title. Whereas HFC do.
But overall theres tons of cars out there do you need the hassle.
#10 by Spike H on October 8, 2009 - 4:05 pm
Quote
until the finance is settled the cars not his to sell, you only have his word that he will settle the finance on the vehicle.tell him you will pay the outstanding finance and give him the balance of whats left over, make sure you go with him and you get a receipt for the outstanding balance on the car. if he doesn’t agree to your terms don’t touch it with a barge pole
#11 by teenieebikiniee on October 9, 2009 - 8:14 pm
Quote
The way it works is that you provide his BANK (not him) with a certified check from your lending company. With the check, request that the title of the vehicle is sent to your lending company as you have purchased the car. Coordinate this with him, and everything should be ok..
It is a lot of effort though, however, purchasing a car from a person is cheaper than buying it from a dealer….unless it is brand new. The effort might be worth it.
#12 by crusader 2 on October 10, 2009 - 2:56 am
Quote
if your in the uk ih above has said it all and she is spot on