HELP buying independent dealer with outstanding finance
Discussion
Hi Fellow Piston Heads,
Need some advice - test drove a nice 2012 bmw 640d on monday from an independent dealer (operates from home, no premises). He first said he took it in as a p/x. All looked fine apart from the fact in had 5 previous owners and last owner only had it for a few weeks.
He said last onwer sold it quicky as he wanted a car that the dealer had (bmw e46 m3 csl). I was weary of this and found the previous owner on facebook who couldnt recommend the car highly enough.
Anyway, one hour before purchase I did a hpi check and it came up with outstanding finance. The finance was for the same date as the last onwers purchase date. I spoke to the trader and he then revealed he has it as a sale or return. He never mentioned anything about outstanding finance before and had I not done the check I dont think he would have divulged this information. Now I know why the previous buyer was telling me on facebook the car is great, etc.....as he still owns it.
Anyway, its a good price with decent mileage and he said he will clear the finance if I pay a £500 deposit.
Looked on his website and he has 18 cars listed but are not listed on any major sites anywhere (ebay, autotrader, PH) apart from the 640d. I think this may be the only car he has on sale. He is registered with companies house though.
Stay well clear or pursue???
Need some advice - test drove a nice 2012 bmw 640d on monday from an independent dealer (operates from home, no premises). He first said he took it in as a p/x. All looked fine apart from the fact in had 5 previous owners and last owner only had it for a few weeks.
He said last onwer sold it quicky as he wanted a car that the dealer had (bmw e46 m3 csl). I was weary of this and found the previous owner on facebook who couldnt recommend the car highly enough.
Anyway, one hour before purchase I did a hpi check and it came up with outstanding finance. The finance was for the same date as the last onwers purchase date. I spoke to the trader and he then revealed he has it as a sale or return. He never mentioned anything about outstanding finance before and had I not done the check I dont think he would have divulged this information. Now I know why the previous buyer was telling me on facebook the car is great, etc.....as he still owns it.
Anyway, its a good price with decent mileage and he said he will clear the finance if I pay a £500 deposit.
Looked on his website and he has 18 cars listed but are not listed on any major sites anywhere (ebay, autotrader, PH) apart from the 640d. I think this may be the only car he has on sale. He is registered with companies house though.
Stay well clear or pursue???
Too many alarm bells for my liking. Go with gut instinct on this one. I wouldn't chance it. I would shop around don't let your heart rule.
I would be asking why you need to pay £500 and he will clear the finance. If he can afford to do that after you paying only £500 deposit im sure he can clear the finance before you hand over a deposit.
I would be asking why you need to pay £500 and he will clear the finance. If he can afford to do that after you paying only £500 deposit im sure he can clear the finance before you hand over a deposit.
krisdelta said:
A car without a back story will be easier to sell, if there are comparable cars out there.. why not buy it from a dealer with some come-back? SoR not being mentioned until you've done an HPI would make me suspicious.
Me too - SoR with finance wouldn't be an issue for me if it was presented up front, but hiding it from a serious buyer isn't cool.Gassing Station | Car Buying | Top of Page | What's New | My Stuff