Buying a car with outstanding finance/ buying a car from NI
Discussion
A car that I am looking at has both of the above, neither of which is a necesarily a dealbreaker, just makes things a bit more tricky.
1. Buying from NI.
Does it need re-registered in GB, or is that just a personal preference that some people do? Any issues with doing so (would people think 'dodgy history' due to re-registering)
I understand the MOT system is different; is an NI one valid over here for tax/insurance etc?
2. The vendor was instantly forthcoming about the finance, but says he will pay it off with the money from the sale of the car - how does that work then? (doesn't seem very 'safe' for the buyer). How else can it be done? (assuming buyer doesn't have the funds to pay it off prior to the sale)
Anyone with any experience of either scenrio?
1. Buying from NI.
Does it need re-registered in GB, or is that just a personal preference that some people do? Any issues with doing so (would people think 'dodgy history' due to re-registering)
I understand the MOT system is different; is an NI one valid over here for tax/insurance etc?
2. The vendor was instantly forthcoming about the finance, but says he will pay it off with the money from the sale of the car - how does that work then? (doesn't seem very 'safe' for the buyer). How else can it be done? (assuming buyer doesn't have the funds to pay it off prior to the sale)
Anyone with any experience of either scenrio?
Re-registering - you just need to send the V5C(NI) to the slackers in Swansea and they'll register the car there. You can either keep the reg that's on there, or get a new age related one. MOT is valid no problems.
My car is the opposite, it still has it's original English plate on it, but it's been registered in N. Ireland since 2005. I feel a little embarrassed driving around with the Birmingham plate on my car, but what can you do?
As for the finance, well what he's saying is correct, but it's really a matter of trust. Do you trust him to pay the finance? You could very well end up in possession of a car owned by the finance company, and him away with your hard-earned.
My car is the opposite, it still has it's original English plate on it, but it's been registered in N. Ireland since 2005. I feel a little embarrassed driving around with the Birmingham plate on my car, but what can you do?
As for the finance, well what he's saying is correct, but it's really a matter of trust. Do you trust him to pay the finance? You could very well end up in possession of a car owned by the finance company, and him away with your hard-earned.
Thanks.
I've always lived by the quote from 'Point Break' which goes along the lines of "you've gotta earn trust", and as I don't know this chap at all, I have no idea how honest he is.
I just wondered if there was any other clever way of doing it whereby I pay the finance company directly or something?
HellDiver said:
As for the finance, well what he's saying is correct, but it's really a matter of trust. Do you trust him to pay the finance? You could very well end up in possession of a car owned by the finance company, and him away with your hard-earned.
That's what I'm worried about (especially if he's across the water!)I've always lived by the quote from 'Point Break' which goes along the lines of "you've gotta earn trust", and as I don't know this chap at all, I have no idea how honest he is.
I just wondered if there was any other clever way of doing it whereby I pay the finance company directly or something?
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