SIMI dealer selling with outstanding finance

VUDuo2

Like a right eejit, I put a deposit on a 161 car.
I then did a mywheels.ie check on it and it came back with an outstanding finance caution ( should have done the check first b4 putting down the deposit - right eejit so I am.

Mywheels say that are requesting the status from HPI.

Dealer is saying : "the finance was through B.O.I and it has been cleared off by the previous owner. This can take up to a month to be updated on the SIMI system"

What should / can I do now ??

Henry Ford III

Ask the dealer prove it.

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This post has been deleted.

Shefwedfan

VUDuo2 wrote: »

Like a right eejit, I put a deposit on a 161 car.
I then did a mywheels.ie check on it and it came back with an outstanding finance caution ( should have done the check first b4 putting down the deposit - right eejit so I am.

Mywheels say that are requesting the status from HPI.

Dealer is saying : "the finance was through B.O.I and it has been cleared off by the previous owner. This can take up to a month to be updated on the SIMI system"

What should / can I do now ??

I had this before, asked the dealer to prove and they got letter to confirm.

They are correct and it can take a while to update on system,

acronym Chilli

....... wrote: »

This post has been deleted.

In these sorts of cases, you should indeed have comeback on the dealer. He should know the finance situation himself, and not disclosing it would invalidate the contract of sale.
Getting the deposit back may be easier/harder depending on the individual circumstances, but ultimately the law would be expected to end up on the buyer's side.

VUDuo2

For feck sake, my head has been wrecked between test driving many cars, getting ridiculous trade in offers and now this finance stuff.

So the mywheels final finance report came back with ;
Finance Check Result: WARNING Finance is currently owed on this vehicle (verified by the Financial Institution) MyWheels.ie has contacted the Financial Institution and they have confirmed that the vehicle is still under finance.

However, the dealer has provided me with an email he received from the B.O.I. stating there is no finance outstanding - the email address looks legit -

Ahhhhhhhhhhhhhh

Kimbot

VUDuo2 wrote: »

For feck sake, my head has been wrecked between test driving many cars, getting ridiculous trade in offers and now this finance stuff.

So the mywheels final finance report came back with ;
Finance Check Result: WARNING Finance is currently owed on this vehicle (verified by the Financial Institution) MyWheels.ie has contacted the Financial Institution and they have confirmed that the vehicle is still under finance.

However, the dealer has provided me with an email he received from the B.O.I. stating there is no finance outstanding - the email address looks legit -

Ahhhhhhhhhhhhhh

I would ask for it on a headed letter and not in an email.

VUDuo2

jonnycivic wrote: »

I would ask for it on a headed letter and not in an email.

Perfect !

acronym Chilli

Cheer up! this story almost certainly turns out well, and you've at least found the car you want to buy so no more test-drives etc.,!:)

VUDuo2

Apparently the finance company will ensure to state by tomorrow, on their system, that there's no outstanding finance.

I'll do another HPI check to confirm that.

Thanks a million for all your input.

Shefwedfan

VUDuo2 wrote: »

Apparently the finance company will ensure to state by tomorrow, on their system, that there's no outstanding finance.

I'll do another HPI check to confirm that.

Thanks a million for all your input.

Happy Motoring

TheShow

normally takes a while for the ICB to update

Mintoe

TheShow wrote: »

normally takes a while for the ICB to update

ICB don't update, each bank adds and removes its own finance agreements, some banks do it quicker than others. If the bank only received clearance payment they won't remove it until the funds are fully cleared, this it what can delay a clearance and lazy bank staff

TheShow

Mintoe wrote: »

ICB don't update, each bank adds and removes its own finance agreements, some banks do it quicker than others. If the bank only received clearance payment they won't remove it until the funds are fully cleared, this it what can delay a clearance and lazy bank staff

I meant for the ICB to be updated (by the lenders)