HPI advice needed
Discussion
The car I have HPI checked is a VW and that is the one that seemingly has an outstanding finance agreement on it.
Alert Details VW Golf
Plate Transfer
A private plate was applied to this vehicle on 27/07/2005
The current plate was transferred to this vehicle on 29/06/2007
This VRM has been recorded as having an outstanding finance agreement
An outstanding finance agreement was recorded on 09/03/2011 against a JAGUAR (not the car in question)
Current keeper acquired on 07-Mar-2011
Four questions:
•How can I find out more about this existing finance agreement?
•What would normally be done about it ie. Would I pay off the finance company and give the balance to the owner?
•What does the agreement on the Jaguar 2 days later have to do with the VW?
•Should I avoid the purchase?
The HPI check has not been fully completed with all the information they require.
Thanks in advance for your help.
Alert Details VW Golf
Plate Transfer
A private plate was applied to this vehicle on 27/07/2005
The current plate was transferred to this vehicle on 29/06/2007
This VRM has been recorded as having an outstanding finance agreement
An outstanding finance agreement was recorded on 09/03/2011 against a JAGUAR (not the car in question)
Current keeper acquired on 07-Mar-2011
Four questions:
•How can I find out more about this existing finance agreement?
•What would normally be done about it ie. Would I pay off the finance company and give the balance to the owner?
•What does the agreement on the Jaguar 2 days later have to do with the VW?
•Should I avoid the purchase?
The HPI check has not been fully completed with all the information they require.
Thanks in advance for your help.
•How can I find out more about this existing finance agreement?
-Due to the data protection act, there's not a great deal you can do to find out more about the current finance, other than to speak to the seller (more info in question 4).
•What would normally be done about it ie. Would I pay off the finance company and give the balance to the owner?
-Basically yes. You would contact the finance company witht he seller there & pay the balance using switch/credit card. They will then confirm that the finance account on that vehicle is closed, then if there;s a remaining amount to be paid for the car you just give that to the seller.
•What does the agreement on the Jaguar 2 days later have to do with the VW?
-If the car had a private plate on it which was then transferred off to another car and finance taken out on that car, it will often show as an alert only because the plate was on the VW at one point. If the finance is linked to the Jaguar then it has nothing to do with the VW, you can contact HPI and they will confirm this is the case.
•Should I avoid the purchase?
-No reason to avoid it,if there is finance on the car in question then easy enough dealt with, if the finance showing on HPI is linked to another car then its just a quick call to confirm this.
-Due to the data protection act, there's not a great deal you can do to find out more about the current finance, other than to speak to the seller (more info in question 4).
•What would normally be done about it ie. Would I pay off the finance company and give the balance to the owner?
-Basically yes. You would contact the finance company witht he seller there & pay the balance using switch/credit card. They will then confirm that the finance account on that vehicle is closed, then if there;s a remaining amount to be paid for the car you just give that to the seller.
•What does the agreement on the Jaguar 2 days later have to do with the VW?
-If the car had a private plate on it which was then transferred off to another car and finance taken out on that car, it will often show as an alert only because the plate was on the VW at one point. If the finance is linked to the Jaguar then it has nothing to do with the VW, you can contact HPI and they will confirm this is the case.
•Should I avoid the purchase?
-No reason to avoid it,if there is finance on the car in question then easy enough dealt with, if the finance showing on HPI is linked to another car then its just a quick call to confirm this.
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