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Outstanding car finance

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  • 06-09-2007 10:38am
    #1
    Gel
    Registered Users Posts: 240 ✭✭


    Just did a finance check on a car I was interested in. Turns out that it's subject to a finance agreement until Nov. 2008. I rang the finance company to find out if I would become liable for the outstanding finance if I bought the car. One snooty individual refused to give any information whatsoever as I was not a customer.
    Can anyone advise me on what the situation is in this case?


Comments

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    #2
    Stephen
    Registered Users Posts: 18,484 ✭✭✭✭Stephen


    Don't touch it unless the finance is cleared.


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    #3
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,711 Mod ✭✭✭✭Henry Ford III


    Have you asked the seller about this?

    It's often kosher to write 2 cheques. 1 to finance co. to clear loan (and release title) and a 2nd one to seller for any balance between finance amount owed, and selling price.


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    #4
    Tipsy Mac
    Closed Accounts Posts: 2,559 ✭✭✭Tipsy Mac


    Stephen wrote:
    Don't touch it unless the finance is cleared.

    Exactly, especially if it wasn't made clear to you from the outset by the seller. Plenty of cleared cars for sale.


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