Buying a car which is currently company owned - help needed
Discussion
Hi, I like a car which is company owned at the moment. Bloke told me that he is selling on his boss' behalf. How do I proceed in this case? How do I confirm he is authorized to sell on behalf of company. Price is around £27k so lot of money, worth risking? What difference will paperwork have?
Generally if buying privately I make sure I am buying from the registered address and from the person who is registered owner.
Generally if buying privately I make sure I am buying from the registered address and from the person who is registered owner.
I've done this a few times, generally always done at the office to which the owner runs the company from - Easy to find out this info. If it's the bosses car then it's fairly common they're busy, so understandable - Just express you're a little concerned and would it be possible to meet the 'owner' very breifly whilst viewing the car.
A1001.
Putting aside the fact that you ought to be putting that kind of money down as a deposit on a house, (no wheels, goes up in value not down, an appreciating asset), you should ask to see the current V5 and check with the owner on the V5 that the car is indeed for sale. Then HPI it. Ask also to see ALL the service history.
Don't forget that if you buy this as a private sale, you have NO comeback WHATSOEVER. If the engine or gearbox go bang within 50 yards of you leaving the seller, you CANNOT take it back. And you have no legal recourse at all.
Putting aside the fact that you ought to be putting that kind of money down as a deposit on a house, (no wheels, goes up in value not down, an appreciating asset), you should ask to see the current V5 and check with the owner on the V5 that the car is indeed for sale. Then HPI it. Ask also to see ALL the service history.
Don't forget that if you buy this as a private sale, you have NO comeback WHATSOEVER. If the engine or gearbox go bang within 50 yards of you leaving the seller, you CANNOT take it back. And you have no legal recourse at all.
I used to sell all of our used company cars to the public before we went the lease route.
It really is a good way of buying a used car. As a company every receipt will be filed and retrievable so you will be able to see all of the work carried out on the car, if it's not to hand they will be able to get it for you. The car will have the companies address on the V5 so you just need to make sure a director or senior manager signs it over. Also most companies will have many methods with which you can pay. Many of ours were purchased using a debit car.
The company will (If they have any sense) give you a receipt confirming the sale as they will need to put this in their accounts to show the sale of an asset. But the receipt will also say 'Sold as seen with no form of warranty or guarantee'.
Hope this helps.
It really is a good way of buying a used car. As a company every receipt will be filed and retrievable so you will be able to see all of the work carried out on the car, if it's not to hand they will be able to get it for you. The car will have the companies address on the V5 so you just need to make sure a director or senior manager signs it over. Also most companies will have many methods with which you can pay. Many of ours were purchased using a debit car.
The company will (If they have any sense) give you a receipt confirming the sale as they will need to put this in their accounts to show the sale of an asset. But the receipt will also say 'Sold as seen with no form of warranty or guarantee'.
Hope this helps.
datum77 said:
A1001.
Putting aside the fact that you ought to be putting that kind of money down as a deposit on a house, (no wheels, goes up in value not down, an appreciating asset), you should ask to see the current V5 and check with the owner on the V5 that the car is indeed for sale. Then HPI it. Ask also to see ALL the service history.
Don't forget that if you buy this as a private sale, you have NO comeback WHATSOEVER. If the engine or gearbox go bang within 50 yards of you leaving the seller, you CANNOT take it back. And you have no legal recourse at all.
That's a bit strong isn't it ? Surely it's just like any other private car purchase, cheaper than a trader but caveat emptor. Putting aside the fact that you ought to be putting that kind of money down as a deposit on a house, (no wheels, goes up in value not down, an appreciating asset), you should ask to see the current V5 and check with the owner on the V5 that the car is indeed for sale. Then HPI it. Ask also to see ALL the service history.
Don't forget that if you buy this as a private sale, you have NO comeback WHATSOEVER. If the engine or gearbox go bang within 50 yards of you leaving the seller, you CANNOT take it back. And you have no legal recourse at all.
datum77 said:
A1001.
Putting aside the fact that you ought to be putting that kind of money down as a deposit on a house, (no wheels, goes up in value not down, an appreciating asset)
What if I don't care of downwards value? I am not out to "invest" which serves no-one but just fat bankers and govt (their cut aka tax). I am out to "spend", which will purely serve me. Putting aside the fact that you ought to be putting that kind of money down as a deposit on a house, (no wheels, goes up in value not down, an appreciating asset)
AI001 said:
Well, sad news is this car is gone. £27k for convertible 12 reg 640d was £6k lower than normal market price. It didn't last 24 hours. I couldn't act quick enough. :-( so sad.
I think you may have dodged a bullet here. £6k cheaper, you have to ask yourself why...probably because it wasn't legit. TheHound said:
I think you may have dodged a bullet here. £6k cheaper, you have to ask yourself why...probably because it wasn't legit.
Surprisingly it was fully legitimate. Bloke didn't know what he was selling, listed m sports as se, hence the difference. Company car, no one seemed to care/bother. Someone bought it after paying him deposit in this morning without even seeing the car. Probably was legit - most companies would sell off cars after 3 years and get a trade price, then offer it for the same or very slightly higher. If it was a genuine sale, the company Directors or Managers would be quite happy to meet the proposed buyer and give them any details they wanted.
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