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Toby	posted on 7th Jul 06 at 15:06
	quote: Originally posted by horizon quote: Originally posted by CorsaB4ever quote: Originally posted by M4tt_Envoy i'm looking at buying a car but there is outstanding finance on it, the person says they will pay off the finance once they have the cash from me.where do i stand in this situation? they could get the cash from you and not pay the finace off leaving it with you to cover or the garage taking the car off you!! would be a court affair most prob Can they do that, when its his car now? and the Finance is in the other guys name?:boggle: happen to a friend but the existing finacee gave the company a friends details and said he was going to finish the payments
Jason Iles	posted on 7th Jul 06 at 15:02
	quote: Originally posted by M4tt_Envoy quote: Originally posted by Jason Iles Do not hand any cash over untill they have paid it off. Have you asked them why they want your money before they pay the remainder off? Seems very odd i would imagine because they can't afford to pay it off until they have the cash Ah thats fair enough for some reason I thought it was a garage you were buying from, in a private sale i'd do what Iceman has suggested :thumbs:
iceman	posted on 7th Jul 06 at 14:56
	quote: Originally posted by M4tt_Envoy quote: Originally posted by Jason Iles Do not hand any cash over untill they have paid it off. Have you asked them why they want your money before they pay the remainder off? Seems very odd i would imagine because they can't afford to pay it off until they have the cash I had to do this with my last P1, the owner owed 4k to a finance company, i got to bankers drafts 1 for 4k made payable to the finance company and then deducted the 4k from the aggreed figure and got another bankers draft for him. Job done :thumbs:
M4tt_Envoy	posted on 7th Jul 06 at 14:53
	quote: Originally posted by Jason Iles Do not hand any cash over untill they have paid it off. Have you asked them why they want your money before they pay the remainder off? Seems very odd i would imagine because they can't afford to pay it off until they have the cash
Baskey	posted on 7th Jul 06 at 14:30
	^^^ correct the finance can be on a car irrespective of the owner, thats why it shows on a hpi check, if it didnt matter there would be no need for hpi to investagate the finance
iceman	posted on 7th Jul 06 at 14:29
	get a settlement figure from the finance company and pay it off yourself
mwg	posted on 7th Jul 06 at 14:28
	There was a car dealer round here that was doing this. All the cars on his forecourt were bought by him on finance through a finance company he had a deal with. If you bought a car off him and did it on finance you were fine as you would be paying the finance company, not the car dealer. If you bought a car off him and paid cash the dealer pocketed the money for himself, didn't pay the finance off and eventually the finance company came and took the cars off all the people that had paid him cash to try and regain their losses as the finance company legally had the right to take the car if the payments weren't kept up. I'd steer clear! [Edited on 07-07-2006 by Matty G]
horizon	posted on 7th Jul 06 at 14:25
	quote: Originally posted by CorsaB4ever quote: Originally posted by M4tt_Envoy i'm looking at buying a car but there is outstanding finance on it, the person says they will pay off the finance once they have the cash from me.where do i stand in this situation? they could get the cash from you and not pay the finace off leaving it with you to cover or the garage taking the car off you!! would be a court affair most prob Can they do that, when its his car now? and the Finance is in the other guys name?:boggle:
horizon	posted on 7th Jul 06 at 14:24
	Legally he can Give you the car for the money, and he pays the rest of his finance off.
Toby	posted on 7th Jul 06 at 14:23
	quote: Originally posted by M4tt_Envoy i'm looking at buying a car but there is outstanding finance on it, the person says they will pay off the finance once they have the cash from me.where do i stand in this situation? they could get the cash from you and not pay the finace off leaving it with you to cover or the garage taking the car off you!! would be a court affair most prob
Jason Iles	posted on 7th Jul 06 at 14:23
	Do not hand any cash over untill they have paid it off. Have you asked them why they want your money before they pay the remainder off? Seems very odd
M4tt_Envoy	posted on 7th Jul 06 at 14:20
	whats im thinking, but didnt know wheter i could get them to sign something which says i will pay the finance off
Jambo	posted on 7th Jul 06 at 14:17
	quote: Originally posted by horizon Seems dodgey.
horizon	posted on 7th Jul 06 at 14:16
	Seems dodgey.
Rich_J_Williams	posted on 7th Jul 06 at 14:16
	dont really know, but i would say it is safer to take the finance of the asking price and pay it yourself? or make them pay it before you pay!
M4tt_Envoy	posted on 7th Jul 06 at 14:14
	i'm looking at buying a car but there is outstanding finance on it, the person says they will pay off the finance once they have the cash from me. where do i stand in this situation?