FINANCE REPOSSESSION - Unrecorded

[lotuselan7]

Looking for any advice / experience.
Im looking at a car thats a Finance Repossession Unrecorded. Its obvious what it means but what about the future? Does this stick with car i.e. is it on an HPI database or stay with the vehicle some how?. What about the current situation do I need evidence from Finance comapny that it has been paid off? Its been sold by a trader so assume all pucker.

Cheers guys

Mark

[MrLou]

lotuselan7 said:

Looking for any advice / experience.
Its been sold by a trader so assume all pucker.

Seriously?

[Carrot]

MrLou said:

lotuselan7 said:

Looking for any advice / experience.
Its been sold by a trader so assume all pucker.

Seriously?

NEVER TRUST A CAR DEALER!

Apologies to all resident car dealers on PH, but its easier to assume they are dodgy rather than sort the problems out afterwards...

[Huntsman]

lotuselan7 said:

Looking for any advice / experience.
Im looking at a car thats a Finance Repossession Unrecorded. Its obvious what it means but what about the future? Does this stick with car i.e. is it on an HPI database or stay with the vehicle some how?. What about the current situation do I need evidence from Finance comapny that it has been paid off? Its been sold by a trader so assume all pucker.

Cheers guys

Mark

"Story cars" - rarely worth the hassle in my book, unless its something very rare.

[NoNeed]

Carrot said:

MrLou said:

lotuselan7 said:

Looking for any advice / experience.
Its been sold by a trader so assume all pucker.

Seriously?

NEVER TRUST A CAR DEALER!

Apologies to all resident car dealers on PH, but its easier to assume they are dodgy rather than sort the problems out afterwards...

This, there are good ones but most are about as trust worthy as a rattle snake in a lucky dip.

[Leigh996tt]

A HPI check done yourself should confirm if there is anything outstanding on it. If there is, the dealer should inform you but is more than likely said dealer has squared up with the FC to take ownership of the car.

I bought an RS Turbo Escort years ago that was a repo, paid the FC direct and had no problems when I later traded it in at a main Ford dealer.

[sleep envy]

Can't help but am interested to know how you found out if it's unrecorded.

[va1o]

As far as I'm aware its not logged anywhere. My only worry is things like the logbook, service history, owners manuals and the spare key tend to have gone missing.

[Pork]

If they cant pay/didnt bother to pay the finance, what will their approach to maintenance be?

[SteveS Cup]

Not really worth the hassle unless it's 25%+ cheaper than similar models.

I once had a Cat D car, was a mistake and it made it harder to sell on... just not worth it unless it's a bargain which you can sell on as a bargain to attract buyers.

[DavidHM]

Does HPI check out? Buy on condition and be extra careful - people who can't afford to buy the car almost certainly can't afford to maintain it.

That said I wouldn't expect a repo to be recorded anywhere so the dealer didn't have to tell you. As said though it might explain lack of keys, history etc. and value accordingly. In other words, it's probably not quite as nice as the average car of its age, kind and mileage.

[Kiltox]

If it's a reposession the HPI marker will have been removed by the finance company when they recovered it, surely?

Don't know why it'd be devalued by 25+%