rtbiscuit Posted February 4, 2010 Share Posted February 4, 2010 well it wasn't declared up front by the owner so maybe they were hoping someonewould buy it without checking and then they could maybe clear the finance with the sale money...or not bother at all!! what's the best way round this? should i just walk away from this one? I'm a bit miffed that they didn't tell me about it first speak to sarnie about it, he is very knowledgeable i think he posted all the info in a recent thread about it. nothing wrong with buying with finance still on, just takes a bit more work before taking it home. Quote Link to comment Share on other sites More sharing options...
Sarnie Posted February 4, 2010 Share Posted February 4, 2010 well it wasn't declared up front by the owner so maybe they were hoping someonewould buy it without checking and then they could maybe clear the finance with the sale money...or not bother at all!! what's the best way round this? should i just walk away from this one? I'm a bit miffed that they didn't tell me about it first De ja vu!?!?!? There was a lengthy heated debate about outstanding fince about two weeks ago.......i think it was started by maz0 Basically, you go to the sellers house, phone the finance company and get a settlement figure. If its less than £13500 you pay the full balance off (so that you know the car is now finance clear) and pay the seller the difference. If its more than £13500 you pay the finance company £13,500 and the seller pays off whatever is left. Don't leave the house without the full balance being paid off. Job done. It would only be an issue if the finance is more than what the cars worth and the seller does not have the funds to pay the difference off. Quote Link to comment Share on other sites More sharing options...
andlid Posted February 4, 2010 Share Posted February 4, 2010 well it wasn't declared up front by the owner so maybe they were hoping someonewould buy it without checking and then they could maybe clear the finance with the sale money...or not bother at all!! what's the best way round this? should i just walk away from this one? I'm a bit miffed that they didn't tell me about it first hmm just ask them what the story is: Is there any outstanding finance on the car, and work it from there... if you feel its a bit shady walk away, plenty more fish in the sea Quote Link to comment Share on other sites More sharing options...
Paulzx Posted February 4, 2010 Author Share Posted February 4, 2010 Cheers for the advice chaps. Why does it have to be done at the sellers house by the way? If i get as far as looking at the car I'll get a settlement figure from santander for sure. I can't see any way of settling the balance on the spot though. do the finance company give you 'title of goods' etc or some documentation to say it's clear once you settle? Quote Link to comment Share on other sites More sharing options...
Sarnie Posted February 4, 2010 Share Posted February 4, 2010 Cheers for the advice chaps. Why does it have to be done at the sellers house by the way? If i get as far as looking at the car I'll get a settlement figure from santander for sure. I can't see any way of settling the balance on the spot though. do the finance company give you 'title of goods' etc or some documentation to say it's clear once you settle? It doesn't have to be done at the sellers house, I was just assuming you would be at the sellers house when you were there to buy the car. You will not be able to get a settlemnt figure from the finance company due to data protection, hence why I said doing at the sellers house, so he can phone up and get the settlement figure whilst your there. You can't see any way of settling the balance on the spot?????? You phone up with your card details and they take the money out of your account like any other transaction. The finance company send the seller a settlement statement. The buyer gets nothing apart from a clear HPI status and knowledge that the car is finance free. Its really no big deal................. Quote Link to comment Share on other sites More sharing options...
Paulzx Posted February 5, 2010 Author Share Posted February 5, 2010 okay, i'll let you know how it ends up was supposed to see the car this weekend but have not heard back from the owners in time. haven't told them i've HPI checked it yet either. i was supposed to pay for the car with a bankers draft in the name of the seller which i have with me, thats what we agreed. can't do that now because of the finance arrangement. nothings ever easy is it? Quote Link to comment Share on other sites More sharing options...
Sarnie Posted February 5, 2010 Share Posted February 5, 2010 Yeah it just needs a bit more extra work this way, but its not good if the seller hasn't got back to you, I go out of my way to correspond with people who are interested in my cars, even the time wasters............ Quote Link to comment Share on other sites More sharing options...
andlid Posted February 5, 2010 Share Posted February 5, 2010 Yeah it just needs a bit more extra work this way, but its not good if the seller hasn't got back to you, I go out of my way to correspond with people who are interested in my cars, even the time wasters............ Yeah I wouldn't like that one either... Quote Link to comment Share on other sites More sharing options...
Paulzx Posted February 5, 2010 Author Share Posted February 5, 2010 the owner just phoned me back, all sounds okay - there is a small amount of finance to settle they are a long way from me so i can't just pop over there. they have offered to settle with santander once i've bought the car, and while i am there with them, so i can get an all clear. fly in the ointment is that its likely to be a saturday so whats the chances of them phoning santander with a card payment on a saturday? virtually nil i suspect. which means i'll be driving the car back and trusting her to make the settlement Quote Link to comment Share on other sites More sharing options...
Number86 Posted February 5, 2010 Share Posted February 5, 2010 Or, you give her the amount requested for the car, less the money required for settlement. Get her to request a settlement letter before you arrive, and pay the remainder off on Monday. Don't drive off with the finance not settled. If she has the money to clear it, there's no reason for her not to. Or for you to pay less. Quote Link to comment Share on other sites More sharing options...
Paulzx Posted February 5, 2010 Author Share Posted February 5, 2010 yeah, that's probably a good way to do it i've never found it this difficult to buy a car before Quote Link to comment Share on other sites More sharing options...
Paulzx Posted February 6, 2010 Author Share Posted February 6, 2010 still waiting for proof of settlement figure on that one. on another note i've been offered another GT4 but this one has two issues. first is no sat nav - i thought they came as standard so it would seem somebody has removed it? the other is that it's had no service since 2007, basically when the second owner got it. from 2007 up to now it's only covered 10,000 miles. what would you do, just get it down to your dealer or service specialist and bring the services up to date? does it matter that they weren't done at the correct times? Quote Link to comment Share on other sites More sharing options...
rtbiscuit Posted February 6, 2010 Share Posted February 6, 2010 i'd go with the first one. although the nav isn't a big issue, i don't think its worth the cost, its a piece of poo. retrofit stuff is far better Quote Link to comment Share on other sites More sharing options...
aquagazgt4 Posted February 10, 2010 Share Posted February 10, 2010 No sat nav wasnt standard on the GT4 was an option. get nurrisshes much better bit of kit. hope it works out for ya Quote Link to comment Share on other sites More sharing options...
Paulzx Posted February 11, 2010 Author Share Posted February 11, 2010 well sadly, i had a deal agreed for a yellow GT4 this wednesday in Leeds. It's 250 miles away from me, cost £160 just to get up on the train. Having formally agreed to buy the car subject to viewing, i was gazumped by somebody who offered £200 more on the same day. I couldn'r really go the extra money because the cost of the round trip already meant the whole deal was actually costing more than the sale price of the car by some margin. Hoping the other bidder might pull out, i waited to see. Unfortunately he bought the car, making the whole thing a waste of time. I was annoyed because i had planned this with the seller for over a week and had a deal agreed. So much for that agreement lol... Quote Link to comment Share on other sites More sharing options...
andlid Posted February 11, 2010 Share Posted February 11, 2010 well sadly, i had a deal agreed for a yellow GT4 this wednesday in Leeds.It's 250 miles away from me, cost £160 just to get up on the train. Having formally agreed to buy the car subject to viewing, i was gazumped by somebody who offered £200 more on the same day. I couldn'r really go the extra money because the cost of the round trip already meant the whole deal was actually costing more than the sale price of the car by some margin. Hoping the other bidder might pull out, i waited to see. Unfortunately he bought the car, making the whole thing a waste of time. I was annoyed because i had planned this with the seller for over a week and had a deal agreed. So much for that agreement lol... sorry to hear that, that drills down to spinal cord... the dude didnt have any... spine! If he did he wouldn't have sold to someone else... Quote Link to comment Share on other sites More sharing options...
Number86 Posted February 11, 2010 Share Posted February 11, 2010 well sadly, i had a deal agreed for a yellow GT4 this wednesday in Leeds.It's 250 miles away from me, cost £160 just to get up on the train. Having formally agreed to buy the car subject to viewing, i was gazumped by somebody who offered £200 more on the same day. I couldn'r really go the extra money because the cost of the round trip already meant the whole deal was actually costing more than the sale price of the car by some margin. Hoping the other bidder might pull out, i waited to see. Unfortunately he bought the car, making the whole thing a waste of time. I was annoyed because i had planned this with the seller for over a week and had a deal agreed. So much for that agreement lol... sorry to hear that, that drills down to spinal cord... the dude didnt have any... spine! If he did he wouldn't have sold to someone else... Well, I dunno about you. But if I was the seller, my spine would be saying TAKE THE EXTRA £200, then use it for a thai back massage! Quote Link to comment Share on other sites More sharing options...
andlid Posted February 11, 2010 Share Posted February 11, 2010 I wouldn't Quote Link to comment Share on other sites More sharing options...
Paulzx Posted February 11, 2010 Author Share Posted February 11, 2010 yeah i know its easy to laugh about but if you knew the trouble i had gone to, i had a bankers draft made out to the sellers name with the correct amount etc - which cost £20 to do, i had to amend that once due to a change which cost £10 etc. so to then be told the day before going up there, that someone had offered £200 more and I had to match it, was a bit bad. The thing is, I had it all arranged and didn't have the extra money anyway! I'm finding it a bit hard to laugh about right now! Quote Link to comment Share on other sites More sharing options...
Ian Posted February 11, 2010 Share Posted February 11, 2010 yeah i know its easy to laugh about but if you knew the trouble i had gone to, i had a bankers draft made out to the sellers name with the correct amount etc - which cost £20 to do, i had to amend that once due to a change which cost £10 etc. so to then be told the day before going up there, that someone had offered £200 more and I had to match it, was a bit bad. The thing is, I had it all arranged and didn't have the extra money anyway! I'm finding it a bit hard to laugh about right now! Similar thing happened to my parents a few weeks ago. They agreed to buy a car, left a deposit & then the day they were supposed to collect it the guy selling it phoned them and told them that he had changed his mind Quote Link to comment Share on other sites More sharing options...
Paulzx Posted February 11, 2010 Author Share Posted February 11, 2010 It's not really on is it. I'm all for getting the most money possible for your car, but when a deal is agreed and that party then spends some time effort and money to prepare to go and collect the car, you should stick to your areement. In the four months I have been talking to people who are trying to sell their Zeds, I keep hearing the same story...people turning up to drive the car, look around it etc and then they don't come up with the money or some other reason and it all falls through. Some of these cars have been up for sale for the same four months I've been looking, it's not easy to sell a Zed on autotrader or pistonheads right now as there are three or four hundred of them on there, so unless the car is spectacular or cheap, it's hard to sell. A bit more co-operation from some sellers would be good... Just the observation of a disappointed 'almost Zed owner'... Quote Link to comment Share on other sites More sharing options...
Number86 Posted February 11, 2010 Share Posted February 11, 2010 Oh, don't get me wrong dude. It sucks for you I know! But If I was the seller, with someone waiting to come see the car and prior to that someone came and offered me MORE money for it on the spot. I couldn't not take it. Just like your seller said he let you have it, but didn't. A potential buyer could tell you as the seller they are definitely going to take it, then not. Then you lose that sale, and potentially anyone else that came to view in the meantime, or previously who you've now declined a sale to. While it's not a particularly great thing to do, from his point of view he's getting £200 quid extra which isn't to be sniffed at, and he's guaranteed a sale there and then. As for all he knows you could of pulled out after travelling up to see it. Quote Link to comment Share on other sites More sharing options...
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