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Finance outstanding on a vehicle... Weird.

I'm going to pick up a used Vauxhall tomorrow at a Main Ford dealership.

I ran a HPI check on it just now. Everything is fine, except for the finance. It says there has been finance on the vehicle before. Offices are closed right now and open on Monday.

http://i.imgur.com/N61TUCz.png

That's what it shows on the check. Agreement type: G

I called the dealership just now and they said that the car was invoiced today, and they took that out because they have a lot of cars on the lot? If I checked a couple days earlier, or IN a couple days, that will no longer be on the report.

Then I asked if I can get that in writing just for my peace of mind, she said there's no need, they are a main dealer etc. I insisted she said she will have to speak to her manager, but there's no need.

I have a £250 deposit on the car, and will be paying the rest via debit card, not finance.

Sounds very odd to me. I was looking forward to picking up the car, but now I'm concerned. Should I be?
Original post by GreenStarburst
I'm going to pick up a used Vauxhall tomorrow at a Main Ford dealership.

I ran a HPI check on it just now. Everything is fine, except for the finance. It says there has been finance on the vehicle before. Offices are closed right now and open on Monday.

http://i.imgur.com/N61TUCz.png

That's what it shows on the check. Agreement type: G

I called the dealership just now and they said that the car was invoiced today, and they took that out because they have a lot of cars on the lot? If I checked a couple days earlier, or IN a couple days, that will no longer be on the report.

Then I asked if I can get that in writing just for my peace of mind, she said there's no need, they are a main dealer etc. I insisted she said she will have to speak to her manager, but there's no need.

I have a £250 deposit on the car, and will be paying the rest via debit card, not finance.

Sounds very odd to me. I was looking forward to picking up the car, but now I'm concerned. Should I be?



It is temporary finance used by the garage when they stock the car and it is paid off by the garage when it's sold:

Unit Stocking

If you are buying from a dealer, you may come across this type of finance on your HPI report. Talk it over with your dealer, check their liability and get confirmation in writing that they will clear the finance on the car you are buying. Unit Stocking is a common type of finance agreement used by motor dealers to enable them to fund the vehicles on their forecourt.
Reply 2
Original post by DotDotCurve
It is temporary finance used by the garage when they stock the car and it is paid off by the garage when it's sold:

Unit Stocking

If you are buying from a dealer, you may come across this type of finance on your HPI report. Talk it over with your dealer, check their liability and get confirmation in writing that they will clear the finance on the car you are buying. Unit Stocking is a common type of finance agreement used by motor dealers to enable them to fund the vehicles on their forecourt.


Thanks! Much appreciated.

I bet I sounded like a right idiot on the phone insisting on getting it in writing.
Original post by GreenStarburst
Thanks! Much appreciated.

I bet I sounded like a right idiot on the phone insisting on getting it in writing.


If possible I would still be looking for it in writing to say they will be paying it off, but it is pretty much a given that they will.
Reply 4
If its a main dealer its not going to be an issue unless they are going under before they pay it off.
Reply 5
Finance on a car isn't an issue.
You can buy a car privately that's on finance if you like. There's just an extra bit of rigmarole to go through in that rather than pay the seller you phone up the finance company with your credit card, settle the finance and give the seller some cash. Or, in some circumstances they'll actually give you the keys and some cash back! It all depends on at what point they are at with their repayments.

p.s if you do go down this route always use a credit card as you can claim it back via the credit card company if something ever were to go tits up.
Reply 6
I don't think its unreasonable to request confirmation in writing, that's what I'd certainly do (having been in your shoes a while back), if they cannot be bothered to provide you with a simple letter, tell them to go to hell.

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