buying a car with outstanding finance - help needed

[gw1103]

Hi. I know it's not recommended, however, I am interested to know if there are services out there that act as a middle man, for example. (like PayPal for eBay)
The aim is to make sure the seller pays off the finance with the funds from the buyer. this is obviously needed if the finance company will only accept payment from the seller.

thanks

[rash_decision]

gw1103 said:

Hi. I know it's not recommended, however, I am interested to know if there are services out there that act as a middle man, for example. (like PayPal for eBay)
The aim is to make sure the seller pays off the finance with the funds from the buyer. this is obviously needed if the finance company will only accept payment from the seller.

thanks

Most, if not all, Finance Companies should accept payment from anyone towards one of their Assets, apparently. I was in a situation a couple of years ago whereby I was purchasing a car with Finance owed on it. I went to the Bank with the owner and transferred (CHAPS) the funds to the Finance Company's Account. They wouldn't send me a letter/receipt automatically, I had to ask for that; just to say they no longer had interest in that Asset.

Slightly off topic, but the car I bought was £21k, and the guy owed £23,400, so he actually gave me money too (albeit that it went to the Finance Company)!! Lol. Negative equity, you gotta love it!! Lol.