Thread: Buying a Company Owned Car - Any come back?!

Originally Posted by Harry Smith

Hi

I was wondering if anyone could help?! I have found a car through autotrader which would like to buy. It is registered in the name of a company. The person selling the car is a Director of the company and said he would provide a letter in the name of the company documenting the sale.

However, the company is in financial distress and thats why the directors need to sell the car to raise cash. Could the liquidator (if the companies finances worsen) seek to retrieve the car from me eventhough i have paid for the car and bought it in good faith?

The car is being sold under book value so is an attractive purchase. The V5 clearly shows the car is owned by the company. HPI check has come back clear

The owner only wants cash (or will accept CHAPS once they have set up a new bank account - dont know why they cant use the existing company bank account?!). I feel the directors may be trying to sell their assets and pocket the cash rather than put it in the company.

Please advise - help!

Many thanks

If faced with a similar situation where the guy selling the car insisted on cash I would immediately smell a whole, extended family of rats!!!!!!!

The addition of "waiting until they had set up a new bank account" to take a CHAPS transfer would only reinforce that smell too!!

What would I do in those circumstances? Walk swifty away and keep my hard earned cash firmly in my pocket, no matter how much I had told myself the car was exactly what I wanted and fallen in love with it!!!!!!!!!!!!!