Buying a car from a dealer with outstanding finance on car

[blitzed007]

Afternoon, got a bit of an issue here. Im looking to purchase a car from a big dealership, however after doing a HPI check on the vehicle it is showing as having outstanding finance on the vehicle.

The dealership have assured me that they have paid the finance off on the vehicle via CHAPS payment on the 25/5/2011 this Wednesday. They have even given me a copy of the transaction details i.e with their account details the finance companies account details, he date, the amount and reference numbers etc..

The issue im having is with the finance company, they wont give me any information if this has been paid off. I rang them earlier and they said they still have an interest in the car, surely if its paid by CHAPS (urgent domestic chaps) the payment would have been cleared by now??. I could do with collecting the car this weekend but i don't think it would be wise until this has cleared.

What do you think? any advice?

[davidjpowell]

Something is amiss. Anything paid that long ago should have been marked off a long time ago.

Dealer needs to resolve this for you - otherwise you would wonder whether there is a second finance company involved. It's probably something simple though.

[Pcot]

davidjpowell said:

Anything paid that long ago should have been marked off a long time ago.

2 Days is hardly a 'long time' as you put it.

Its probably a cock up with the bank. They are nothing short of useless with wired transactions.

[angry jock]

Depending on the finance company that is was and what register the car is on it can take a while to take it off HPI. I have seen cars showing on 3 month dealer stocking finance still showing years later. The respective companies involved can be very slow in taking it off. The dealer should be able to get a letter from the individual finance company showing that they no longer have an interest in it.
HTH

[davidjpowell]

Pcot said:

2 Days is hardly a 'long time' as you put it.

Its probably a cock up with the bank. They are nothing short of useless with wired transactions.

Apoliges misread it. Thought it said 25/2/11.

Ignore me!