Outstanding finance on Seat garage Sytner group

[sush40]

Hi,

I just agreed on a car today (paid a deposit to secure it but haven't paid it yet). The car in question is a Seat Leon, from an approved Seat garage (Sytner).

Everything looked perfectly fine but when the seller did the HPI check, the outstanding finance box was in red. The seller explained this was totally normal, and it was due to the fact that they technically rent the cars "unit stock" from their parent group and that the finance is cleared upon payment. When I questioned it, he explained that they do this to avoid buying in loads of different cars and bankrupting themselves. I was just wondering if this was normal/ common trustworthy practice?

thanks in advance.

[cuprabob]

Yes, it's very common.

[Butter Face]

Yes, virtually every dealer in the country uses it.

[stevemcs]

It normally shows as dealer stocking, but yes as others have said its perfectly normal.

[sush40]

thank you so much, it probably was a silly question but I wanted to be extra careful, I've always been told to never buy a car on Outstanding finance. I thought it'd be fine too but just wanted to double check first! Picking up the car tomorrow morning, i cant wait.

I already paid for the deposit, and I still need to pay the remaining balance by bank transfer. Would you usually pay the remaining before going to the garage (like the day before) or wait until you get there, check the last things (make sure V5 is there, right info on it, set of keys, etc...) and make the transfer at the last minute and once everything is there?

Thanks

[stevemcs]

Depends, sometimes it can take 2-3 hours for the money to show, on a large dealership they may have to check with accounts to see if the money is in and they may only check with the bank twice a day.

For minimum delays pay the money before travailing unless the dealer will let you pay on debit card

[sush40]

Thanks, i know it's a trusted dealership (SEAT) but is it not a bit risky to pay before checking all the paperwork? (especially logbook, to check if all the details are correct - VIN etc)

Thanks

[tickedon]

Bit late now... but if you paid the deposit on credit card, no risk at all for you.

Credit cards provide extra legal cover on any items £100-30k. Including if the dealer went bust the day after you paid via bank transfer but before you collected.

[stevemcs]

sush40 said:

Thanks, i know it's a trusted dealership (SEAT) but is it not a bit risky to pay before checking all the paperwork? (especially logbook, to check if all the details are correct - VIN etc)

Thanks

I wouldn't worry, they may even say you cannot see the V5 as it has the last keepers details on it and go on about data protection