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In Process of buying Car in UK

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  • 08-07-2008 7:36pm
    #1
    Smiegel
    Closed Accounts Posts: 44 ✭


    Hi,

    I contacted a guy on the auto trader about buying his car. The car is to cost me roughly 10000STG. I did a hpi check on the car and found there was 9200 STG of finance still owing on the car. I then asked the owner in an email was there any outstanding finance owed on the car- to which he replied there was. I told him I was a litle nervous about the transaction as he had not been up-front about this from the outset to which he said that he was selling the car to pay the finance so it was just easier for him to do it that way. We have come to an arrangement that I will get the car off him and give him 2 sterling drafts..one for the finance company for 9200STG and one for himself 800STG.

    Does this seem ok to you or would you be nervous about doing this? Could there be a scam at work?

    Thanks in advance,

    Mike.


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Comments

  • Options
    #2
    Smiegel
    Closed Accounts Posts: 44 ✭Smiegel


    Also can anyone tell me what documentation I need to get off this guy.......

    A V5 obviously but what else? Someone told me their mate got caught out by only having one copy of some document when he went to register his car in ireland and he had to go back accross the water to get the other one -what document was this?


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    #3
    bazz26
    Registered Users Posts: 51,244 ✭✭✭✭bazz26


    Make one draft out to the finance company, arrange with the seller for both of you to meet up at the finance company branch and then pay them to close out the finance agreement. Then pay the seller the balance.


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    #4
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,712 Mod ✭✭✭✭Henry Ford III


    Get verfication of the "settlement figure". It can be different to the a/c balance.


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    #5
    listermint
    Registered Users Posts: 33,975 ✭✭✭✭listermint


    As henry said, Check the Settlement figure. Could include interest incured, and as it stands it is not the sellers car its the finance companys property.


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    #6
    niceirishfella
    Closed Accounts Posts: 5,538 ✭✭✭niceirishfella


    Walk Away!

    end of.

    ps. well done on the hpi check..good move.


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    #7
    Smiegel
    Closed Accounts Posts: 44 ✭Smiegel


    Thanks guys...I'm going to go aheah with the purchase , he says that its ok if I show him the cheque for the finance company and we'll both go and post it together and I'll give him a draft for the rest.


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    #8
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,712 Mod ✭✭✭✭Henry Ford III


    niceirishfella wrote: »
    Walk Away!

    end of.

    ps. well done on the hpi check..good move.

    Why? It's quite normal to buy a car with money owed against it.

    OP is doing the right thing too. One payment to owner and balance to driver. I agree on the HPI check. It's essential.


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    #9
    listermint
    Registered Users Posts: 33,975 ✭✭✭✭listermint


    OP you dont mine me asking what are you purchasing? im in the process myself.


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    #10
    Smiegel
    Closed Accounts Posts: 44 ✭Smiegel


    Im purchasing a honda civic diesel


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    #11
    CharlieCroker
    Registered Users Posts: 8,451 ✭✭✭CharlieCroker


    good call. i'm looking at buying one of those in the next few months, one of the most underrated cars on the road, the 2.2 is a corker and is cheap to tax and VRT as well


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    #12
    Smiegel
    Closed Accounts Posts: 44 ✭Smiegel


    hopefully it'll go like a rocket, I'm getting the ES model - a smashing 06 EX model sold on ebay for 10500 two weeks ago


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    #13
    Smiegel
    Closed Accounts Posts: 44 ✭Smiegel


    the diesel isnt on sale in ireland till late 08 or 09 ...what a joke


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    #14
    CharlieCroker
    Registered Users Posts: 8,451 ✭✭✭CharlieCroker


    pity its an '06. still a great car but its not entitled to the cheaper road tax rate, just the lower VRT. Only realised this myself the other day. its on the dept. of environment website. :mad:


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    #15
    gally74
    Closed Accounts Posts: 1,997 ✭✭✭gally74


    walk away, and buy from a garage,

    private is a no no in the uk,


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    #16
    jayok
    Registered Users Posts: 1,906 ✭✭✭jayok


    Smiegel wrote: »
    the diesel isnt on sale in ireland till late 08 or 09 ...what a joke

    Not true - Universal Honda are holding two in stock at the moment.


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    #17
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,712 Mod ✭✭✭✭Henry Ford III


    gally74 wrote: »
    walk away, and buy from a garage,

    private is a no no in the uk,

    Why? If you do you homework and get a HPI, and a service history, and a full mechanical check.....


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    #18
    Smiegel
    Closed Accounts Posts: 44 ✭Smiegel


    CharlieCroker thanks for that youre right - fc*k sake how complicated can the motor tax system get


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    #19
    mondeo
    Registered Users Posts: 3,670 ✭✭✭mondeo


    I'd walk away from it.. What I'm thinking is if you payed of the finance then go to take the car he may say sorry not selling it and drive off with his debt cleared... I'd avoid it just incase theres any legal crap involved. Buy from a dealer your better off.


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    #20
    Smiegel
    Closed Accounts Posts: 44 ✭Smiegel


    OK what I'm doing is posting the draft to the finance company with him when I get over. Then ill give him his smaller draft and he'll give me the keys. Then I'm driving off into the sunset...


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    #21
    CharlieCroker
    Registered Users Posts: 8,451 ✭✭✭CharlieCroker


    What i'd do is just do up a little document stating those facts , copy it and than get you both to sign it and keep a copy each. Just as a small bit of insurance in case it had to go to court or anything (heaven forbid).
    At least its something you could throw in front of a judge and your man couldn't argue with it.
    My other advice would be to bring someone over with you for support if you've never done it before.
    Just remember, 99.99% of private sellers are fine and will be more wary of you than you are of them!!


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    #22
    Smiegel
    Closed Accounts Posts: 44 ✭Smiegel


    I think I'll have so much paperwork with me going over that he'll think I'm a bloody lawyer!

    I am bringing over a letter to send with the cheque to honda just in case he tries to divert the payment onto a new honda for himself and I'm getting him to sign that saying the payment is against a particular car.

    I think he thinks I'm completly paranoid at this stage!

    thanks for all the advice


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    #23
    CharlieCroker
    Registered Users Posts: 8,451 ✭✭✭CharlieCroker


    well, its a lot of money. I'd rather be too safe than sorry!!!!!!


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    #24
    CyberGhost
    Registered Users Posts: 5,554 ✭✭✭CyberGhost


    I don't know if it's been mentioned already but, make absolutely sure you get a CO2 cert if you're bringing your car over to Ireland.

    Also, why not just take cash with you and pay it that way?


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    #25
    CharlieCroker
    Registered Users Posts: 8,451 ✭✭✭CharlieCroker


    cos only an idiot would put a couple of grand cash into an envelope and post it to a finance company!!!!!!!!!!!!!!!!!!!!!
    plus, i dunno would i feel comfortable travelling with that much cash in my pocket. Average Civic Cdti is 10-12k stg


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    #26
    mondeo
    Registered Users Posts: 3,670 ✭✭✭mondeo


    CharlieCroker wrote: »
    cos only an idiot would put a couple of grand cash into an envelope and post it to a finance company!!!!!!!!!!!!!!!!!!!!!
    plus, i dunno would i feel comfortable travelling with that much cash in my pocket. Average Civic Cdti is 10-12k stg

    Ye hehe


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    #27
    Smiegel
    Closed Accounts Posts: 44 ✭Smiegel


    Yeah i was going to bring over one of these

    money_bags.jpg

    but couldnt figure out how to get it into the post box


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    #28
    CyberGhost
    Registered Users Posts: 5,554 ✭✭✭CyberGhost


    CharlieCroker wrote: »
    cos only an idiot would put a couple of grand cash into an envelope and post it to a finance company!!!!!!!!!!!!!!!!!!!!!
    plus, i dunno would i feel comfortable travelling with that much cash in my pocket. Average Civic Cdti is 10-12k stg

    I didn't mean posting, I meant traveling, but if you are not comfortable in it, fair enough.

    I have not traveled with 12k stg, but I have with 8k, to the UK, payed cash, brought the car over.


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    #29
    seamy_orr
    Registered Users Posts: 112 ✭✭seamy_orr


    gally74 wrote: »
    walk away, and buy from a garage,

    private is a no no in the uk,

    Stop talking BS mate, buying private in UK is safer than buying private here, at least a comprehensive history check can be ran in the UK. Also on the subject of dealers, have you considered how many in Ireland have been done for clocking cars lately?


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    #30
    JHMEG
    Closed Accounts Posts: 7,686 ✭✭✭JHMEG


    Smiegel wrote: »
    Im purchasing a honda civic diesel
    The 1.7 or the 2.2?


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    #31
    niceirishfella
    Closed Accounts Posts: 5,538 ✭✭✭niceirishfella


    seamy_orr wrote: »
    Stop talking BS mate, buying private in UK is safer than buying private here, at least a comprehensive history check can be ran in the UK. Also on the subject of dealers, have you considered how many in Ireland have been done for clocking cars lately?


    I'm not going to say this is BS or not as we are all entitled to our opinion but - buying private in the Uk is AOK!

    as long as you go by the golden rules - HPI the car, inspect the car, test the car, double check everything.....and then do it again.......and haggle hard.:)


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