Outstanding finance

tom_tarbucket

Hi

Looking to buy a 2nd hand car. Did a cartell report and says outstanding finance.
Asked owner and he said yes there was.

He suggested a bank draft to clear finance. And another one to him off the balance.

I’ve never dealt with this before.

What is the best way to handle this?

colm_mcm

This is a valid way of doing it.
But unless the car is exceptional, just save yourself the hassle and buy one without finance owing.

tom_tarbucket

colm_mcm wrote: »

This is a valid way of doing it.
But unless the car is exceptional, just save yourself the hassle and buy one without finance owing.

Could be right. Car is 6 years old. Would have imagined all the finance stuff would be sorted by now.

I think I’ll walk away.

tom_tarbucket

colm_mcm wrote: »

This is a valid way of doing it.
But unless the car is exceptional, just save yourself the hassle and buy one without finance owing.

Could be right. Car is 6 years old. Would have imagined all the finance stuff would be sorted by now.

I think I’ll walk away.

colm_mcm

Quite possible for a 6 year old car to have a bit of finance left if it was bought used.

Ludo

Or PCP where baloon was re-financed.