Demolition49 Posted May 24, 2010 Share Posted May 24, 2010 (EDITED) Please read the posts carefully they get more fishy as they go along .... Quote Link to comment Share on other sites More sharing options...
James B Posted May 25, 2010 Share Posted May 25, 2010 It's low mileage so I'd check it's all genuine. Apart from that the normal Nissan faults like clicky axle, shite Bose, feathering on the Tyre's (uneven wear). People always tell me to use the search now now i'll tell you.................. Quote Link to comment Share on other sites More sharing options...
Demolition49 Posted May 25, 2010 Author Share Posted May 25, 2010 Haha fair enough... i have all the information i need off here really just thought id ask anyway to double check. Anyway the car im looking at is owned from new but ive just been informed it is currently under a lease agreement and he advises me that will be cleared up before the car is purchased, i have done an HPI check and the car comes out ok, what are your thoughts people? Bang him down on price alot since different people would have been driving it and basically thrashing it? Quote Link to comment Share on other sites More sharing options...
Demolition49 Posted May 25, 2010 Author Share Posted May 25, 2010 Ok guys i need some help here i e-mailed the person who i am interested in buying the car from and this is what i got back: Hi, Could you please explain the lease agreement? How many people have used the car under this agreement, and what is the main use of the car been under this agreement and for how long? REPLY Hi, The car belongs to me, has only ever been used by me, my name is on the log book and it has had no previous owners - all this is shown on the registration document. As you can tell from the mileage, the car has not been used a great deal, it's bit of a toy really. I've done a few long distance trips in it, mostly to France. The longest journey it's done was a trip to Le Mans last year. It was comfortable, pleasant to drive and amazingly we fitted all our gear in the boot. I have another car (Ford Focus Estate) I use for day 2 day stuff and I recently brought a motorbike which has replaced the Nissan as my summer toy. Originally, the car was purchased on a lease scheme rather than HP finance. With a personal lease you only repay the depreciation which, depending on your circumstances, can be a cheaper way to purchase a new vehicle, but you have to return the car at the end of the lease period. However, in this instance the lease/finance company was owned by the Icelandic bank and went into administration just before the lease came to an end. This meant I couldn't return the car, so it was refinanced by the administrators while they found a buyer for the company The lease company has now been brought by another bank so I'm free to repay the outstanding finance and sell the car. I wanted to make sure you was aware of the situation because I'm not sure what would have come up on an HPI check. I'm not sure if it would show as having finance on it or not and I didn't want it to look dodgy. Because of the way all this happened, I have a good deal on the finance so I don't want to clear it until someone wants to buy the car. I hope that helps help me? Quote Link to comment Share on other sites More sharing options...
martinmac Posted May 25, 2010 Share Posted May 25, 2010 Not totally sure of the answer to this but I will tweak the title for you. Quote Link to comment Share on other sites More sharing options...
Demolition49 Posted May 26, 2010 Author Share Posted May 26, 2010 Ok im going to view the car today, i have had it HPI checked and it has come out with no outstanding balance, i am covered for 30k of losses if i they supply me with incorrect information from what i can tell, I would apprieciate it if sombody can give me some advice on this issue and i am a bit weary of the whole thing. I have requested that the seller present me with paperwork to show there is no outstanding balance on the vehicle. When i see him today i am going to ask him in detail about this issue, and i will want details to contact the leasing company to check he is legally allowed to sell this vehicle or if they have any record of the vehicle and if they do i will get written confirmation they have records of it and its paid off. Anybody have some thoughts or input to put in id apprieciate it. Quote Link to comment Share on other sites More sharing options...
andlid Posted May 26, 2010 Share Posted May 26, 2010 This thread is worryingly quite... Quote Link to comment Share on other sites More sharing options...
martinmac Posted May 26, 2010 Share Posted May 26, 2010 I think we all have alarm bells ringing when things arent straightforward. I guess if the right questions are asked and all is confirmed there should be no problem. Quote Link to comment Share on other sites More sharing options...
Demolition49 Posted May 26, 2010 Author Share Posted May 26, 2010 Yeah i was expecting a flood of replys but nobody seems to want to get involved lol which makes me if anything i will just walk away if he doesnt provide me with every little drop of information. Quote Link to comment Share on other sites More sharing options...
un1eash Posted May 26, 2010 Share Posted May 26, 2010 If the HPi check came back as no outstanding finance it sounds like the finance he has out is not against the car but a personnel loan. What normally happens when there is finance on a car and you want to sell privately you would ring the finance company and pay them there money first then the seller if theres anything left over, that way the car would be paid off. If you were to pay for a car with finance outstanding and the seller didnt use the money to pay it off the finance company will come and take the car away or expect you to pay for it. If he has a personnel loan which isnt secured against the car then theres no risk in buying the car as he does own it and its his own fault if he doesnt pay of the finance, they cant come looking for the car on a personnel loan. ps. Lease agreement is as he said, its like a pay as you go. You pay a monthly charge for a brand new car then just hand it back, usually aget 2-3 years. Quote Link to comment Share on other sites More sharing options...
Demolition49 Posted May 26, 2010 Author Share Posted May 26, 2010 If the HPi check came back as no outstanding finance it sounds like the finance he has out is not against the car but a personnel loan. What normally happens when there is finance on a car and you want to sell privately you would ring the finance company and pay them there money first then the seller if theres anything left over, that way the car would be paid off. If you were to pay for a car with finance outstanding and the seller didnt use the money to pay it off the finance company will come and take the car away or expect you to pay for it. If he has a personnel loan which isnt secured against the car then theres no risk in buying the car as he does own it and its his own fault if he doesnt pay of the finance, they cant come looking for the car on a personnel loan. ps. Lease agreement is as he said, its like a pay as you go. You pay a monthly charge for a brand new car then just hand it back, usually aget 2-3 years. So your saying i shouldnt be Quote Link to comment Share on other sites More sharing options...
geoff-r Posted May 26, 2010 Share Posted May 26, 2010 un1eash said it perfectly, he is right. Quote Link to comment Share on other sites More sharing options...
Demolition49 Posted May 26, 2010 Author Share Posted May 26, 2010 Ive just got off the phone to AA HPI check - they said the car had finance marked agasint it march this year but currently it is clear of any finance, i then informed AA that the owned even told me there is finance outstanding on the vehicle. I am worried because the HPI isnt accurate so what if there are 1 or more loans secured against the vehicle that the owner isnt telling me about... look at what i emailed him ME Hi Damon, I have a couple of questions before i come and visit the car today. Is there any finance or balance owing on the vehicle? Can you give me the name of the leasing company who you bought the vehicle from and the name of the bank that now owns them? Do you have paperwork to show the car is yours and there is no balance owed? I need to know this information because i dont want to buying a car with an outstanding balance, im sure you can apprieciate where i am coming from. Thank you for all your help and i look foward to viewing the car. REPLY Hi, As per my email yesterday, currently there is outstanding finance on the vehicle. But I will clear this prior to anyone purchasing it, I've already spoken to the finance company and confirmed I can do this. So you won't be purchasing a car with outstanding finance. Off the top of my head I don't know how much is outstanding or the name of the new company, but it's not one you will of heard of as it's a commercial bank. wtf he doesnt remember the company, thats total BS i would remember the company i owe money to without even think about it, thats like saying i dont know what bank i bank with? Quote Link to comment Share on other sites More sharing options...
Digsy Posted May 26, 2010 Share Posted May 26, 2010 He may well be straight as there are probably a lot of unusual situations thrown up by the Icelandic bank crashes. However, I wouldn't go ahead without seeing confirmation in writing from the bank that the finance has been cleared. Personally, unless this car was absolutely perfect for you I'd walk away now and look for another which doesn't have any ownership issues. Quote Link to comment Share on other sites More sharing options...
UNABASHED Posted May 26, 2010 Share Posted May 26, 2010 just walk away, no point taking any kind of risk and there are plenty of cars for sale at moment so find a nice simple sale. Quote Link to comment Share on other sites More sharing options...
andlid Posted May 26, 2010 Share Posted May 26, 2010 buy one dirt cheap on ebay Quote Link to comment Share on other sites More sharing options...
Sarnie Posted May 26, 2010 Share Posted May 26, 2010 Not everyone pays attention to who they owe finance to, I've seen plenty of clients who genuinely don't know who their mortgage is with....... Quote Link to comment Share on other sites More sharing options...
maz0 Posted May 26, 2010 Share Posted May 26, 2010 Just avoid this one, there's far too many good cars out there to get stung by a dodgy one. There's just to much to worry about. I would have forgotten about it after the response of his first email. Quote Link to comment Share on other sites More sharing options...
andlid Posted May 26, 2010 Share Posted May 26, 2010 whats with the title change? Quote Link to comment Share on other sites More sharing options...
ZedJohn Posted May 26, 2010 Share Posted May 26, 2010 I'm no finance guy, but could the Administrators handling the now defunct original leasing company shed any light? Quote Link to comment Share on other sites More sharing options...
Sarnie Posted May 26, 2010 Share Posted May 26, 2010 The name of the company would be on his bank statements next to his monthly payment for the car... Quote Link to comment Share on other sites More sharing options...
Demolition49 Posted May 26, 2010 Author Share Posted May 26, 2010 Latest reply from him after i asked him for the details: Hi Joshua, REPLY I would rather not disclose that information at the current time as I have a good deal in place and don't want to jeopardise it. I will clear the outstanding finance before you hand over any money so I don't feel it's necessary at this stage. I only mentioned the lease/finance because from the questions you were asking, I assumed you wanted to perform an HPI check. I hadn't considered anyone would want to do that without first seeing the car - which is why the finance is still in place. So what if he has a good deal, the bank have given him the deal they wont retract it because i want to buy the vehicle if he is genuine he would just pay it off and give me the details of the lease company, somthing is fishy here! This could well be a genuine car, but he sure is being awkward in answering any of my questions! So for this reason i am not looking at this particular car anymore For anybody looking at this car BEWARE! He wasnt even going to mention the finance! REG: EY56 SWF His ads are on the following: http://cgi.ebay.co.uk/ws/eBayISAPI.dll? ... 0507759337 http://www.pistonheads.com/sales/1587733.htm BEWARE OF HIM EVERY QUESTION I ASK ABOUT THE FINANCE HE AVOIDS! Quote Link to comment Share on other sites More sharing options...
Demolition49 Posted May 26, 2010 Author Share Posted May 26, 2010 He may well be straight as there are probably a lot of unusual situations thrown up by the Icelandic bank crashes. However, I wouldn't go ahead without seeing confirmation in writing from the bank that the finance has been cleared. Personally, unless this car was absolutely perfect for you I'd walk away now and look for another which doesn't have any ownership issues. This car is perfect for me but im still walking away! Hes trying to get out of anything to do with finance and fails to reply after ive asked him for paperwork on several occations! He will answer the other questions but not the finance stuff. First he lies to me telling me he doesnt remember, then on the same day before he gets off from work he says he doesnt want to give it to me! Quote Link to comment Share on other sites More sharing options...
Sarnie Posted May 26, 2010 Share Posted May 26, 2010 He may well be straight as there are probably a lot of unusual situations thrown up by the Icelandic bank crashes. However, I wouldn't go ahead without seeing confirmation in writing from the bank that the finance has been cleared. Personally, unless this car was absolutely perfect for you I'd walk away now and look for another which doesn't have any ownership issues. This car is perfect for me but im still walking away! Hes trying to get out of anything to do with finance and fails to reply after ive asked him for paperwork on several occations! He will answer the other questions but not the finance stuff. I think your being a bit harsh. I wouldnt give out details of my finance arragements to someone who had not even been to see the car....... Quote Link to comment Share on other sites More sharing options...
andlid Posted May 26, 2010 Share Posted May 26, 2010 burn burn baby burn! lol jesus mate take it handy! Go see it at least... Quote Link to comment Share on other sites More sharing options...
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