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Finance owing on bike form dealer

  • 02-06-2009 2:45pm
    #1
    Del2005
    Registered Users, Registered Users 2 Posts: 19,031 ✭✭✭✭


    I rang up a place in the UK about a bike I was interested in and it sounds OK. I did a HPI on it and it has finance owing. The dealer never mentioned it and I never asked, going to add that question to my checklist:(. Is it the same procedure for buying a bike with finance from a dealer as a private person, just get a draft for the amount made out to the finance company? I'm going to ring back later and ask about finance owing and see what they say about it.


Comments

  • #2
    seanybiker
    Closed Accounts Posts: 10,898 ✭✭✭✭seanybiker


    wouldnt have a clue to be honest


  • #3
    Red Hornet
    Registered Users Posts: 57 ✭✭Red Hornet


    A dealer should make sure there is no finance oweing before selling a bike. I'd question d dealer and if he can't explain d finance i'd run from his shop.


  • #4
    Del2005
    Registered Users, Registered Users 2 Posts: 19,031 ✭✭✭✭Del2005


    Red Hornet wrote: »
    A dealer should make sure there is no finance oweing before selling a bike. I'd question d dealer and if he can't explain d finance i'd run from his shop.

    Thanks, will make sure of this.


  • #5
    Interceptor
    Registered Users, Registered Users 2 Posts: 3,180 ✭✭✭Interceptor


    Don't TOUCH a bike with finance owing. Regardless of what the dealer says, he shouldn't be offering a bike for sale which has unpaid loans against it. Find another bike at another dealers and start again.

    'cptr


  • #6
    Mr. Presentable
    Closed Accounts Posts: 9,496 ✭✭✭Mr. Presentable


    Interceptor wrote: »
    Don't TOUCH a bike with finance owing. Regardless of what the dealer says, he shouldn't be offering a bike for sale which has unpaid loans against it. Find another bike at another dealers and start again.

    'cptr

    Correct. Depending on the type of finance, the dealer may not even own the bike.


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  • #7
    Wez
    Registered Users, Registered Users 2 Posts: 1,747 ✭✭✭Wez


    I've heard of dealerships allowing people to pay the price of the bike, less the oweing finance. The customer can then send off the cheque to the finance company (as part of the deal) and the bike is now debt free and the customer now fully owns it.

    Most of the time the dealership will want to do this for you when taking the bike off sombody, for their own piece of mind. Otherwise the bike can be "towed"..

    The only real reason you'd be doing this is if the bike has been checked over properly and is a sound bike. Otherwise I'd just steer clear!


  • #8
    honeybadger
    Registered Users, Registered Users 2 Posts: 869 ✭✭✭honeybadger


    Del2005 wrote: »
    I rang up a place in the UK about a bike I was interested in and it sounds OK. I did a HPI on it and it has finance owing. The dealer never mentioned it and I never asked, going to add that question to my checklist:(. Is it the same procedure for buying a bike with finance from a dealer as a private person, just get a draft for the amount made out to the finance company? I'm going to ring back later and ask about finance owing and see what they say about it.

    did johnny veagus own the bike before you lol


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