I have been offered a very nice deal off a VW dealership(Family owned) over £1500 off the asking off a passat. The only thing that I am worried about is the fact when I did a HPI check it had outstanding finance owed to VW finance. The dealership advised me that it was there finance as they had been at a closed VW aution and purchased 10 cars. They advised me that once I had paid then the finance would be paid off.
The dealer also advised that this would have been explained to me
if I had purchase the car as all cars get HPI checked under there agreement with VW.
Does this sound about wright or should I be worried?
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My understanding is that it is not the Dealerships car to sell until the Finance has been paid. Until the HPI check shows otherwise steer clear.
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I had a similar issue with a car I bought from a well known car supermarket a couple of years ago. It too had manufacturer finance against it, but the sales guy told me this would be cleared. Anyway, I came to sell the car earlier this year and lo and behold the manufacturer finance was still showing on HPI, result being the sale fell through.
Eventually the car supermarket sorted it out for me, but only after I'd wasted maybe 20 phonecalls to them - only managed to resolve it in the end by physically planting myself in the general managers office till it was done!
So yes, you should be worried.
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I have called VW main office in Milton Keanes. I gave them the reg of the car and they said that there would not be a problem with the finance and it will be paid off if I buy the car.
Are there any dealers out there who can advise on this.
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they are strictly speaking not playing by the rules
if you buy the car, and the dealership goes bankrupt before they complete the trasaction and pay off the finance house, you would be left having paid but not owning the car
do what they do to punters, and reduce the price by how much they owe on finance and give them a cheque made out to that amount made payable to finance company
or buy on credit card so that you have some comeback on the bank
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I was thinking about putting a £1000 pounds on the credit card would this help me if things went pear shaped.
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Yes it would certainly help. But better instead get then to pay off the finance simultaneously with your purchase and do not accept the car until it is clear.
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Espada III - well if you have a family and need a Lamborghini, what else do you drive?
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