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Advise pls - Buying a car that has finance owed - Car in flood?

  • 07-02-2008 4:13pm
    #1
    worded
    Registered Users, Registered Users 2 Posts: 4,643 ✭✭✭


    I asked a seller would the the ownership papers match his current address.
    The answer - "The ownership papers are with the dealer/bank financing our car" So if buying the car I pay his finance co I presume?

    How to tell if a car was in a flood? Aside from looking for water marks.

    if a car is a 2004 - it doesnt need an NCT? When does it?


Comments

  • #2
    craichoe
    Closed Accounts Posts: 2,706 ✭✭✭craichoe


    If the owner doesnt keep up payments the bank can sieze the car as he never actually owned it in the first place.


  • #3
    domania
    Closed Accounts Posts: 79 ✭✭domania


    Walk away.

    Else you never own the car, the bank do. They should clear the outstanding finance first before selling.


  • #4
    shayser
    Closed Accounts Posts: 1,650 ✭✭✭shayser


    I bought with finance owed once. Made the payment payable to the bank, not the seller.


  • #5
    worded
    Registered Users, Registered Users 2 Posts: 4,643 ✭✭✭worded


    I would imagine that there could be a genuine case where the owner wants to sell has kept up repayments, but there is a balance owed to the bank.

    The seller has said there is finance owed straight away on first contact. He is German and most Germans are up front business wise. But there are exceptions, Im not naive.


  • #6
    mickdw
    Registered Users, Registered Users 2 Posts: 23,688 ✭✭✭✭mickdw


    pay the bank not him and make sure he doesnt owe more than you re paying. Ring the finance company and get them to confirm that they will release ownership to you on payment of whatever sum. If anything left over, give to guy selling.

    Hard to pick out a flood damaged car. Just look for obvious stuff. Make sure everything works perfectly. do history check if high value car as it would have a claim on it if flooded. Try to get under carpet in footwells to check for nastiness.


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  • #7
    Kimbot
    Moderators, Computer Games Moderators, Social & Fun Moderators Posts: 18,809 Mod ✭✭✭✭Kimbot


    On finance deals once you pay 60%+ back you own the car not the bank, ask him what he is doing i.e. repaying the loan, more than likely you can pay the finance crowd back yourself and it will save him some hassle too.


  • #8
    worded
    Registered Users, Registered Users 2 Posts: 4,643 ✭✭✭worded


    Foot wells - where your feet are when driving right?

    I can picture the scene - whipping out a stanley and slicing the carpet
    and spraying with luminol CSI style! Feck it might as well check it proper.


    mickdw wrote: »
    pay the bank not him and make sure he doesnt owe more than you re paying. Ring the finance company and get them to confirm that they will release ownership to you on payment of whatever sum. If anything left over, give to guy selling.

    Hard to pick out a flood damaged car. Just look for obvious stuff. Make sure everything works perfectly. do history check if high value car as it would have a claim on it if flooded. Try to get under carpet in footwells to check for nastiness.


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