Outstanding Finance

[nutter1]

I have just found out that a car I was going to buy still has outstanding finance on it. Should I inform someone? If so who? Is it even legal to sell it if there is finance still owing on it? Help

[selby70]

Hi I bid on a car on ebay and won then I found out there was finance owing on it , got intouch with the people who informed me they were going to pay finance of when I got car , which they did do and gave me receipt I have had car for 2 years and am very happy with it.

[JRB]

Be very careful! If the car has outstanding finance on it then it is the property of the Finance company and NOT the prospective seller.

"Before you buy a secondhand vehicle, it may be worth checking whether it is still on a hire purchase, conditional sale or leasing agreement. If it is, you may not have 'good title' to the vehicle (be the true owner). To find out whether the vehicle has any outstanding agreements on it, check in the telephone directory, or search the internet, for 'vehicle history checks'." (from CAB)