I am part exchanging one of my cars on wednesday, or that what was going to happen.
The dealer called me after having done the deal to say my car was showing that there was outstanding finance. The finance having been arranged in March this year. I have owned the car since last November and paid cash, for which I have a handwritten signed receipt from the previous private owner.
I am hoping that the dealer can discuss with HPI on Monday and get confirmation that this is an error.
Is this something that anyone else has had happen. If so was it quickly corrected and what if anything did you have to do?
Thanks.
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Did you HPI the car whern you bought it?
If not then the person you bought the car form may have left outstanding finance on it. In that case, although he was the refistered keeper, he wasn't the owner so the car wasn't his to sell, so you haven't legally bought it, it still belongs to the finance house even though you've paid money for it and got a reciept.
It may just be a clerical error. You really need to ge tin touch with whichever finance house is showing as haivng an interest in the car to determine what the real situation is.
Somehow, I suspect that the outcome of this isn't going to be good unless there's just tbeen a clerical error.
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I read often, only post occasionally
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I am at the end of a very long day at work but, if I read your OP correctly, you have owned the car since November 2005 but there is finance oustanding which was taken out in March 2006. How could anybody have financed the purchase of a car they did not own? I do hope this works out for you; there is clearly something odd going on and I do hope that it is not to your disadvantage!
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I know silly not to, but I didn't HPI it before I bought it. However, the dealer who HPI'd it yesterday tells me the finance was taken out in March this year ie 4 months after I got it.
I will get the finance details and contact them myself.
Thanks.
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It seems likely that this is an error - the point being that the credit agreement appears to date from March, 5 months after the OP bought it. It's difficult tosee how he can have a problem.
If in fact the finance pre-dates the purchase, the OP is almost certainly an 'innocent purchaser' anyway (assuming he could not reasonably have been expected to know about the HP or CS agreement, and did not infact know) and he should write to the finance company stating this and ask for conformation that he now has good title.
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conformation = confirmation - sorry.
Mistakes involving reg nos are very common - of course it could be the OP's that got mixed up - does it match the 'log book'?
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The reg no on the car matches the log book as does the Vin etc.
I have not seen the HPI report, but the dealer double checked the reg no when he called.
Thank you for your replies.
As has been said the simplist thing is to contact the Finance co and find out what has happened, which is what I will do.
Thanks.
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So are you saying that (1) HPI are saying finance was taken out 5 months after you bought the car? Or (2) there is an outstanding payment 5 months after the car was bought.
If its (1) you may have a bigger problem, it indicates that a car with your plate was bought with finance, so your car is a clone or there is a clone of your car.
If its (2) then the car had outstanding finance when it was sold to you, and payments were missed 5 months later
(3) It could all be a mistake of course, lets hope it is.
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TourVanMan TM < Ex RF >
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Some good news.
Dealer contacted HPI this morning. They have checked it out and it is an error.
The finance has been incorrectly logged to my registration number.
HPI have faxed the dealer to confirm clean and it is being corrrected for the future.
Just a keying error by the sounds of it.
Sigh of relief.
Sorted.
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That's good news all round
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It's not really good news at all.
A solution for OP but imagine the situation where you were selling privately and didn't have a garage with the clout to question/shout at the database owner - lost sale I guess and a nightmare to sort out yourself.
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Well it is good news for the OP and he is the one we are concerned with here! He's been lucky - other people have to take their chances!
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