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M2RTY

 posted on 13th Sep 05 at 12:09

It's technically not illegal to sell the vehicle whilst finance is still owing (provided the finance company agrees),but if the seller defaults on the payments the finance company will repossess the car.

[Edited on 13-09-2005 by M2RV H]


ed

 posted on 13th Sep 05 at 11:50

Yea sure it is, but what happens when the seller goes and pisses off to Australia with your money...


Ludacris Turbo

 posted on 13th Sep 05 at 11:46

Thats legally binding


Avey

 posted on 13th Sep 05 at 11:46

Think I'll give it a miss then


ed

 posted on 13th Sep 05 at 11:45

quote:
Originally posted by Ludacris Turbo
quote:
Originally posted by Avey
Whats the crack?
Does the person selling the car need to give u written confirmation that he will be paying the finance off with the money received from the car :boggle:

You need to get a reciept from the seller saying they are going to pay the rest of the finace off, and get them to sign it.
Where are you from? Tellytubby land?


ed

 posted on 13th Sep 05 at 11:44

quote:
Originally posted by Avey
Is written confirmation from the current owner not sufficient :boggle:
No. If you want to risk it then you can, but you could get fucked over. Don't trust anyone these days. Everyone is just out to get your money, especially when it comes to used cars.


Ludacris Turbo

 posted on 13th Sep 05 at 11:42

quote:
Originally posted by Avey
Whats the crack?
Does the person selling the car need to give u written confirmation that he will be paying the finance off with the money received from the car :boggle:

You need to get a reciept from the seller saying they are going to pay the rest of the finace off, and get them to sign it.


Avey

 posted on 13th Sep 05 at 11:42

Is written confirmation from the current owner not sufficient :boggle:


ed

 posted on 13th Sep 05 at 11:37

You get a check done by the AA. They will then get written confirmation from the finance company that the finance in either paid off or still outstanding. If it is still outstanding and you are the owner of the vehicle then you are liable to pay the finance secured on the car. Thats why it's important to check it all out before.


Avey

 posted on 13th Sep 05 at 11:30

Whats the crack?
Does the person selling the car need to give u written confirmation that he will be paying the finance off with the money received from the car :boggle: