Private purchase car, undeclared finance outstanding.

[Paul Walton]

I want to buy a car from a private seller; it's a special one.

However, the current owner said he messed up by not doing an HPI check on it.  Yep, it has outstanding finance .

The 'old owner' has been paying the monthly payments for 14 months and said they would clear it by the end of the month.

I am prepared to wait.

However, what, if anything, can the current owner do to ensure he gets the finance settled, so I can buy the car?

1. Is it a police matter?
2. Should he go via the CCJ route now?  

I want to help for two reasons, I want the car and the current owner is foreign and needs help.

 

 

[dx100uk]

1. no why?

2.why what for?

if the outstanding finance is being cleared and will soon be completed? RE:

48 minutes ago, Paul Walton said:

The 'old owner' has been paying the monthly payments for 14 months and said they would clear it by the end of the month.

if thats what your comment means, simply wait for the loan to be fully settled.

was this finance to pay for the car itself or a log book loan against the car ?

dx

 

[Paul Walton]

I assume the loan was to pay for the car. Just to clarify, the current owner bought it 14 months ago unaware it had finance on it. And the previous, owner has continued to pay each month.

thanks

Paul 

[dx100uk]

then you'd be seen as a purchaser in good faith.

its typically only a danger to the 1st buyer and within 12mts 

very rare for anyone to want the car now against any finance.

and the original person named on the agreement is paying the debt off though:

1 hour ago, Paul Walton said:

The 'old owner' has been paying the monthly payments for 14 months and said they would clear it by the end of the month.

as i asked before ...how do you know the above is true?

are you saying the whole loan will be clear done and over by FEB 1st?

if so you have no problem at all.

dx

 

[Paul Walton]

Thanks for that. I will hold off buying until the finance is cleared.

If it's not, and the finance company repossessed the car, does the current seller lose out? and the first owner get away with it?

[dx100uk]

they cant 'just' repossess the car...old wives tale for this being so far the line.

you would have good title.

no-one is losing out. the finance is being paid.