buying a vehicle still on lease purchase

Honest John Back Room » Motoring discussion
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Sun 9 Jul 2006 12:15
buying a vehicle still on lease purchase - matstro
If you see a vehicle for sale and the owner tells you its still subject to a lease purchase agreement - is this vehicle still ok to buy if the owner tells you he's selling it then paying off the lease company with the proceeds which presumably happens a fair bit?. Obviously on doing an HPI on the vehicle it will show up as having finance against it?? What safeguard is there for a buyer in this situation? I'm thinking you can telephone the lease company (with the vehicle owners consent) to check out the story??
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Sun 9 Jul 2006 12:23
buying a vehicle still on lease purchase - bell boy
not all finance companies give their information to hpi some self finance, stupid but true,however they would be barny not to register it at hpi as an alert vehicle in case somebody tried to sell it without permission.................
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Sun 9 Jul 2006 12:25
buying a vehicle still on lease purchase - jc2
He must pay off the lease company first-you should contact the lease company-buy it off them and let him give you the balance.Otherwise he is effectively stealing the car.
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Sun 9 Jul 2006 12:26
buying a vehicle still on lease purchase - jc2
Sorry-give him the balance.
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Sun 9 Jul 2006 12:37
buying a vehicle still on lease purchase - Altea Ego
If you are buying this car you don't need this hastle, walk away.
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TourVanMan TM < Ex RF >
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Sun 9 Jul 2006 12:43
buying a vehicle still on lease purchase - Pugugly {P}
Walk away and keep walking.
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Sun 9 Jul 2006 12:43
buying a vehicle still on lease purchase - bell boy
i also agree
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Sun 9 Jul 2006 12:55
buying a vehicle still on lease purchase - matstro
ok, thanks for the advice. Its what I thought really. To HPI a vehicle and buy despite the results isn't a good thing to do. Shame, because it was a hard to find vehicle and everything else about it was right. Interestingly, I asked the seller why they were selling such a vehicle via Ebay and not Autotrader and the reply was that Ebay was cheaper - I don't see the logic in ths answer as I think selling on Ebay for 7k brings final value fees of three figures??

Thanks again. I won't be buying it!
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