my son is after buying a VR6 and the seller has £1500 outstanding HP. Seller says he'll use £1500 of the £4k asking price to pay off the HP. Is there any way my son can make sure this happens, or any way he can protect himself from potential problems.

 

...your knowledge in these (and other) matters much appreciated.

 

thanks

 

Jack

I suppose you could insist of giving him a cheque for £1500 made payable to the finance company as part of the payment, then he cant cash it or do anything with it except pay the finance off

Just an idea

Paul

Sounds well dodgy to me. The only thing I can suggest is that your son arranges to pay the outstanding sum (£1500???) direct to the HP company.

Otherwise how will he be certain that they don't have title to the car.

steer well clear although the guy is saying he will pay off the finance if he doesnt they will chase your son for the money and not him and your son wont have a leg to stand on

Yeah he says there is £1500 left, but how do you know?

Personally I wouldnt touch it.

I'd walk away on that one! Easy to say when it's not you looking at buying the car I know. Hopefully Mat Lad will see this thread and tell you all about characters promising to pay off HP!

 

My Bro had some nightmare with this aswell if I remember on a Renault 19 16v but can't remember exactly how that story went.

 

Leo! Where are ya???

 

Hi Jack,

 

Ask for the finance company details, and account number, and tell them you will check the outstanding amount.

 

Once confirmed, you will give the owner £2500 as a cheque to be safe, and the other will be paid to the finance company.

 

If they dont want to do this then either walk away, or insist the outstanding finance is paid before the deal is done.

 

Leigh.

Bad News;

 

Even if this guy is genuine I would still run a mile, HP oustanding is a no, no. Even if he promises to pay off the oustanding amount with the money he gets from the sale it's your word against his at the end of the day.

 

Good News;

 

You could however, speak to the finance company, with whom he has the car (be there when he phones and can pass the phone onto you) ask how much is left and if you have a debitcard or crditcard with £1,500 you can pay it off and hav them fax you the reciept and letter saying that they no longer have an interest in the car, then you can pay the rest of money to the guy (£2,500) he gets his money and you get a letter from finance company saying it's clear on HP, reciept for £1,500 in your name for payment and a nice spanky new VR6......but out of pocket by £4,000.

 

Hope this helps,

 

Matty.

 

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