Buying a new car on HP - Is it true

Honest John Back Room » Motoring discussion
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Mon 21 Sep 2015 19:24
Buying a new car on HP - Is it true - oldroverboy.

.Is this really true?

There are also administration fees and it's worth noting that until the final payment has been made, you won't own the car – or be able to sell it, unless the lender agrees.

"However, if the car goes wrong during the loan period, the lender is jointly responsible with the dealer for fixing it."

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Mon 21 Sep 2015 19:32
Buying a new car on HP - Is it true - skidpan

Fees vary between lenders.

You need to settle before you sell.

You also need to inform the lender before tking the car abroad.

As for them being responsible for repairs, forget that one.

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Mon 21 Sep 2015 19:53
Buying a new car on HP - Is it true - RT

As for them being responsible for repairs, forget that one.

Not true - involving the finance company in any dispute over repairs generally speeds up the process.

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Tue 22 Sep 2015 14:25
Buying a new car on HP - Is it true - skidpan

Not true - involving the finance company in any dispute over repairs generally speeds up the process

They might speed up disputed warranty repairs but as for paying for repairs out of warranty that is the owner/users responsibility.

If it was down to the finance company to fix our cars we would all be driving financed motors.

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