Possible New Car - Should I walk away?
Discussion
I've fallen for an Audi TT v6, it's a Private seller. Looks immaculate inside and out from photos, not a thing out of place..
So I done a HPI check and to my utter disappointment I found out the car still has Outstanding finance on it, also says there is interest on a previous plate I'm assuming which is now going about on a Focus ST.. Mentions that., dunno if that would have any impact?
I double checked as it gave me an agreement number and phone number for the finance company and sadly the car still does have the finance outstanding.. I will be bringing this up in a phone call to the owner tomorrow.
The other thing that also puts me off is the amount of previous registered keepers.. It's at 7. But I recall someone saying if it's had private plates swapped about etc this could have an effect. But who knows would have to look very closely at the v5 etc if I even decide to go any further with this car..
No wonder people are put off by buying private!
So I done a HPI check and to my utter disappointment I found out the car still has Outstanding finance on it, also says there is interest on a previous plate I'm assuming which is now going about on a Focus ST.. Mentions that., dunno if that would have any impact?
I double checked as it gave me an agreement number and phone number for the finance company and sadly the car still does have the finance outstanding.. I will be bringing this up in a phone call to the owner tomorrow.
The other thing that also puts me off is the amount of previous registered keepers.. It's at 7. But I recall someone saying if it's had private plates swapped about etc this could have an effect. But who knows would have to look very closely at the v5 etc if I even decide to go any further with this car..
No wonder people are put off by buying private!
Edited by Cowbo on Wednesday 1st October 00:18
Doesn't matter if it has finance on it now, it matters if the finance is still on it when you collect. It would be perfectly feasible that the current owner has finance on it which will be cleared by your payment.
Say the car is on sale for £10k but has £8k finance on it. You can agree with the seller that you'll pay £8k direct to the finance company and give him the balance of £2k cash. Make sure you do this whilst on the phone to the finance company so you know it's cleared before you drive off.
If the car is in negative equity, ie. say he's selling for £10k but it has £11k finance, then get him to pay the finance company £1k and you pay them the other £10k.
It's not rocket surgery. Just ring the guy and find out what the score is.
PS - in case it's not completely obvious DO NOT give him all the money and take his word that he'll "pay off the finance first thing Monday".
PPS - The number of RK's is a completely separate issue.
HTH
Say the car is on sale for £10k but has £8k finance on it. You can agree with the seller that you'll pay £8k direct to the finance company and give him the balance of £2k cash. Make sure you do this whilst on the phone to the finance company so you know it's cleared before you drive off.
If the car is in negative equity, ie. say he's selling for £10k but it has £11k finance, then get him to pay the finance company £1k and you pay them the other £10k.
It's not rocket surgery. Just ring the guy and find out what the score is.
PS - in case it's not completely obvious DO NOT give him all the money and take his word that he'll "pay off the finance first thing Monday".
PPS - The number of RK's is a completely separate issue.
HTH
As mrmr96 has said, the finance thing is easily dealt with. Tell the seller that you've seen a registered interest on the vehicle. He should be able to get a settlement figure from them that's valid for a few days and you can make part payment to them and the balance to the seller. They should then relinquish their interest in the vehicle.
Number of registered keepers maybe seem high but it's a 7 year old car and one that would be seen by some as a toy. Supplying dealer would have preregistered as a demo. Then you have the second buyer who may have leased it for a couple of years or bought it on HP. Then a few other owners who had it for a year or so to get some fun motoring in the Summer.
If the price is right and the history stacks up, I wouldn't be put off.
Number of registered keepers maybe seem high but it's a 7 year old car and one that would be seen by some as a toy. Supplying dealer would have preregistered as a demo. Then you have the second buyer who may have leased it for a couple of years or bought it on HP. Then a few other owners who had it for a year or so to get some fun motoring in the Summer.
If the price is right and the history stacks up, I wouldn't be put off.
Thanks for the replies. I suppose this is very true, I will clear this up tomorrow anyway. Most people I have said this to have been very dubious and made a big deal of it and said they would leave it. Seems they are not very experienced with private buying either I'm guessing. But I do really like the car so
Sorry if I'm not all that clued up but I'm young and never bought privately before :P
Sorry if I'm not all that clued up but I'm young and never bought privately before :P
Edited by Cowbo on Wednesday 1st October 00:04
I didn't think that sounded right about the private reg, but just thought I'd make sure as wasn't 100%
I'm guessing that the amount will be due to as said above, being a toy for some for the summer and possibly the high running costs people possibly didn't fully expect/read up on?
Is this really a huge issue or am i just being paranoid? (My previous 3 cars have all either had 1 or 2 previous owners..) I was kind of like WOW when I saw this. Does this effect the value of the car?
I'm guessing that the amount will be due to as said above, being a toy for some for the summer and possibly the high running costs people possibly didn't fully expect/read up on?
Is this really a huge issue or am i just being paranoid? (My previous 3 cars have all either had 1 or 2 previous owners..) I was kind of like WOW when I saw this. Does this effect the value of the car?
Edited by Cowbo on Wednesday 1st October 07:16
Gassing Station | General Gassing | Top of Page | What's New | My Stuff