I'm about to buy a 5 year old bike for £2400 privately from it's only owner to date.
I can't decide whether it's worth paying £35 for a HPI check.
What are the chances of any finance company not having taken the bike back already if there's a large amount owing?
If there could only be a tiny amount owing it doesn't seem worth the £35 to insure against it.
I've viewed the bike at the registered address and beleive the owner to be geniune. If there was finance outstanding what recourse would I have against the vendor?
Any thoughts?
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£35 is 1.4 percent of £2400, I'd have the check done.
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Get him to sign a receipt stating clearly that he owns it and there is no outstanding finance.
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"What are the chances of any finance company not having taken the bike back already if there's a large amount owing?"
Interesting question!
How much into arrears will the finance firm allow you to get? Do they reposses after one missed payment or after 2 years.
Does anyone know?
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The bloke selling the bike might not have defaulted on any payments yet, SO the credit compnay wouldn't be after him.
He might still owe them a few grand and start defaulting on payments after he has sold the bike to you.
Defintely worth the check!
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After 5 years, it is unlikely that any finance is outstanding.
If the seller is honest and genuine, he will be willing to show you evidence that he has paid for the bike in full.
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I got it checked and it's OK but I'm not sorry I did it - I'll be a lot happier with it now that I've got the peace of mind.
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Exactly Chris, and if you ever part with the bike the HPI paperwork will be handy then too!
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Chris,
You can get a basic HPI check done on-line for around £12. (I think that is roughly what I paid a few months ago).
If you then decide to buy the car, you can upgrade to a full check prior to final purchase.
Details here www.hpicheck.com/
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Can anyone please confirm, what are the differences between the £12 check and the £35 check ? Thanks.
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I got this information from HPI when I phoned them:
The £12 one is just a basic check and doesn't come with a guarentee. Also it may have out of date info, ie the finance companies haven't cancelled their interest in the vehicle yet even though it's paid off.
What you can do is do a £12 one and if it comes up clean you've saved £27 (the standard HPI check fee being £39), if not you can upgrade it for the £27 and they'll check the information properly and give you a guarantee.
Mine was £34 'cos it was the "MCN Bike Check".
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Alwyn. At 12:50 C said he'd done it.
At 13:05 you gave details of a cheaper place!
You b*****d!
;-) ;-) ;-) ;-) ;-) ;-)
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Your post is uncalled for.
Alwyn's advice is helpful to other surfers who may wish to do a HPI check in future.
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Dave,
I had not read the whole thread when I posted the info. And it's not a cheaper place. It's the same place but with less info provided.
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Can everyone stand back please!
Yes, look around carefully,
jack's lost his sense of humour, we need to pause while we locate it...
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Handbags at ten paces
;-)
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>Author: Pete (---.claranet.co.uk)
>Date: 04-04-02 18:40
>Can anyone please confirm, what are the differences between the £12
>check and the £35 check ? Thanks.
23 Pounds?
Steve
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Alwyn.
I *wasn't* being serious!
Did you see the 45 smileys afterwards!!!!!!!!!!!!!!!!!!!!
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