HPI check showing an alert

[Sanjøy]

Evening all, final checks on the 320 before I buy it and HPI are highlighting a finance issue. Owner told me he bought it from Eastern and then put his private plate on it which ties up with the below and the change of plate dates. Looks like the outstanding finance was highlighted just prior to him buying it from Eastern, anything obvious ?

Report Summary
Interest registered against a previous plate

Alert Details

Plate Transfer

The current plate was transferred to this vehicle on 26/09/2008
****** was applied to this vehicle on 01/03/2007
This VRM has been recorded as having an outstanding finance agreement
An outstanding finance agreement was recorded on 29/08/2008 against a BMW 320D M SPORT 5DR 200

Next steps

We strongly recommend that you check the vehicle description and mileage.
We strongly recommend that you check the accuracy of the information you provided (listed below), and update your check to supply the missing information and make corrections. Remember to do this by 07 July 2011 and before you buy the vehicle.
Vehicle Registration Mark (VRM) ******
Current mileage 38000
In order to qualify for the HPI Check guarantee, you must supply the VIN (Chassis number) and V5 registration document details before you buy the vehicle. In addition we recommend that you ensure the V5 document is genuine by checking for the presence of the watermark - the initials 'DVL' appear in several places.
VIN (chassis number) ****************************
V5 Registration Document serial number To be supplied
V5 Registration Document issue date To be supplied
Do all the details match the V5 (registration document) and appearance of the vehicle? If not we recommend you query the discrepancy with the seller or the DVLA. We recommend that you do not buy the vehicle before you have resolved your query. Your The HPI Check guarantee will not be valid if the descriptive data does not match the physical vehicle and or the Vehicle log book (V5). For further information see FAQ.

[Dark]

Eastern wouldn't have knowingly sold it with outstanding finance.
Normally with any second hand car from a reputable dealer they do their own HPI check.
The current owner didn't put it onto finance after buying it from Eastern?
Note that dates on the HPI report might not be exact due to delays with various databases being updated.
Regards, Mark

[a4drk]

HPI reports can be a complete pain when you have a private plate.

Bloke HPI'd my 330d (a4drk) when i sold it a few months ago - it was showing up as a cat D
It said "A4 DRK" - Audi A4 - Cat D

Fortunately, the top part was for a BMW 330d.

Can you imagine if both cars were the same model?
(You can do deeper searches by VIN no's)

David

[Sanjøy]

Hmm need to speak to the seller rather than texting him. He says it is his outstanding finance and they have not changed the reg number on the agreement. He has a settlement figure from them that he will clear from the sale. "should have changed it but forgot".

Does this mean the flag just mean he has still cash to pay off on it rather than owt dodge ?

Don't distrust the seller at all, visited his house etc, has a nice car collection, but he is a stranger.

SP (used to HPIs always coming up clear)

[a4drk]

You will need a letter from the Finance Company stating thats its clear.

usual stuff to be on it.
His name & address
Car - Make model - Reg number & also VIN no....

David

[Ferg]

TBH I've had exactly the same issue buying a car from someone who bought from Eastern, maybe just coincidence to give them the benefit of the doubt. I was fortunate that the seller was pro-active and went straight to Eastern and kicked up sh*t, he had proof of purchase and to my knowledge it's distinctly not allowed to sell a car from a dealer with outstanding finance. I was able to then get the fInance company on the phone who after wrangling over the course of a day released the finance agreement, I'm not sure whether it was a clerical error at Eastern rn the FInanace company (Black Horse in this case) or whether Eastern cleared the debt, but it was cleared up eventually. I felt sorry for the seller being left in such a condition by a reputable dealer, but obviously drilled down another few quid for the hassle. Ended up with a very good car. It's obviosuly not the norm and maybe just some slip through the net.

[H8OAG]

Sanj
Get the seller to provide you with a final settlement figure from his lender
You write a cheque for that amount made out to the lender/bank
You then pay the seller the agreed price minus what you have paid the lender/bank


If he does not agree

Walk

[campbell]

Canny. Yet obvious when you think about it.

Are you actually Quentin Wilson, Iain??

[Dominic]

If you do get the car, what happens with the HPI flag?... will it be gone when you come to sell it?

[Corranga]

If you do get the car, what happens with the HPI flag?... will it be gone when you come to sell it?

Presumably if he writes a cheque to the finance co, there will no longer be any outstanding finance?

Does this mean that any car with finance will be flagged up on a HPI check then? I'd have thought that an awful lot of people selling cars would have finance on them that is to be cleared from the private sale, with the remainder going as their deposit for their next car?

I suppose a personal loan is the way around it...

Chris

[vet111s]

Sanj
Get the seller to provide you with a final settlement figure from his lender
You write a cheque for that amount made out to the lender/bank
You then pay the seller the agreed price minus what you have paid the lender/bank


If he does not agree

Walk

That's what I've been advised in past. Get written and dated receipt of clearing of the finance deal and at least you've got proof to show either prospective buyers or debt collectors in the future if the finance company's accounts dept screw up. Interestingly, I checked my wife's car before we bought it and came back with outstanding finance. Turns out the garage finance all cars they buy. Given they get commission from each finance deal secured I'm thinking it was a little dodgy but was still cleared and have got the receipt.
(goes off to rake around the filing cabinet)!!!


Ali

[kerryxeg]

I was just reading about a Scam where the buyer pays off the finance for the seller and pays the remainder in cash to the seller. Unfortunately the buyer has used a fake card to pay the finance company and he can't be traced.

They did catch him in the act with a sting operation and I believe he's now on the modern equivalent of Porridge.

So if I were the seller I'd be a bit concerned that the cheque to the finance company may be fake or bounce etc. Bank transfer might solve that one.

But can't he just pay off the finance before selling the car, worst case it's a short term loan. I'm a little surprise that he didn't mention the plan for the finance earlier.

[mwmackenzie]

well lucky for you boys, im hanging around in the office down at SLS today....bumming about on the forums. Sanj, send me the reg...i'll get it cleared up today for you just now. 90% of BMW are financed by bmw direct. As they settle off the finance a little late normally and by that time the private plate is already transfered onto the new car (which will also have finance) the plate shows as valid on finance watch. Ill couble check everything and clear up the right car for you. Send me your chassis and new plate and I'll get it sorted just now dont worry you can buy me an ice cream next time were out x

[mwmackenzie]

its Pauline By the way - im just down here kicking the boys backside into gear this week mobile 077108 44521 x

[mac]

its Pauline By the way - im just down here kicking the boys backside into gear this week mobile 077108 44521 x

I was wondering where this side of Mark came from!