HPI Finance Insurance Check
Discussion
Apologies if this has been discussed before, but I can't search older posts.
Anyone got a suggestion for a cheap HPI or equivalent check. I have just agreed to buy an old Rolls, for not a lot of money as a bit of a project, and whilst I am not too fussed on mileage/plate changes on a 30 year old....I would like to know that no finance or similar is owing. a mate had a nightmare, with a cheap car bought in good faith as a smoker, that turned out to have finance owing to a non too reputable 'log book loans' taken out years before by a previous owner.
Thank you
Anyone got a suggestion for a cheap HPI or equivalent check. I have just agreed to buy an old Rolls, for not a lot of money as a bit of a project, and whilst I am not too fussed on mileage/plate changes on a 30 year old....I would like to know that no finance or similar is owing. a mate had a nightmare, with a cheap car bought in good faith as a smoker, that turned out to have finance owing to a non too reputable 'log book loans' taken out years before by a previous owner.
Thank you
I just checked the paperwork they sent me, and finance protection up to £10k is included in a "Gold check".
No finance checking appears to be done in the "Classic check" which I find somewhat odd!
More info here
And here
Seems that they treat outstanding finance as a secondary check - I never noticed this before...
No finance checking appears to be done in the "Classic check" which I find somewhat odd!
More info here
And here
Seems that they treat outstanding finance as a secondary check - I never noticed this before...
I've never really bothered, however the experience of my mate....with a £700 4 x 4 he bought to run around last winter resulted in a back street loan company.....of which he had nothing to do with ...trying to sue him for full possession of the car.
Turns out that a 'logbook' loan scheme, means that easy credit is available, upon surrender of the V5, and the loan company have a charge on the car. Needless to say this is normally done when the car is newer and woth a few quid. Further down the line, a replacement log is applied for, and the car is sold.
Logic tells me the loan is with the bloke that took it out..! but it doesn't seem to be like that.
Either way, for the sake of £10 or thereabouts I would rather eliminate the risk !
Everything about this car looks genuine....but then they always do !
Turns out that a 'logbook' loan scheme, means that easy credit is available, upon surrender of the V5, and the loan company have a charge on the car. Needless to say this is normally done when the car is newer and woth a few quid. Further down the line, a replacement log is applied for, and the car is sold.
Logic tells me the loan is with the bloke that took it out..! but it doesn't seem to be like that.
Either way, for the sake of £10 or thereabouts I would rather eliminate the risk !
Everything about this car looks genuine....but then they always do !
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