Strange car px.

[Yorkshireman]

We went to look at a car to px,found one at a dealers and did the deal to exchange on Saturday,we have only paid a small deposit so far(credit card)so we are covered.
When i got home i did a HPI check and it came back as having finance on it so i phoned the dealer who said he would get back to me.He has phoned this morning and said it does have finance on it but when we pay for it they will clear it and send me proof of it being cleared.Obviously we are not happy with that and have requested proof of it being cleared before we complete the deal.I cannot understand how a biggish dealer would work like this.

[hesta]

They should clear it before selling, ask them to clear it because technically it isn't their car to sell until it's paid off I believe!

[Yorkshireman]

They are a GM dealer and they say the finance is with them,still not happy though.i want it cleared as it sounds so unusual.

[Moggy]

Apr 24, 2013 11:21:49 GMT Yorkshireman said:

They are a GM dealer and they say the finance is with them,still not happy though.i want it cleared as it sounds so unusual.

Contact the finance company directly and ask them if they have any outstanding interest in the vehicle. It's not unusual when going through a main dealer with the same company's in-house finance.

...and ask for it in writing

[Yorkshireman]

They have now agreed to pay off the finance before we buy so the deal can complete.

[Deleted]

Apr 24, 2013 11:14:00 GMT hesta said:

They should clear it before selling, ask them to clear it because technically it isn't their car to sell until it's paid off I believe!

Correct.

I used to work in sales at a Vauxhall dealer, this isn't normal practice.

[farzooks]

Hmmm... if the cashflow is so tight at the dealer that they would want to wait for your money to clear the finance, I'd be leary of them still being in business if you want any warranty work done.
Just a thought.

[Deleted]

Apr 24, 2013 19:02:09 GMT farzooks said:

Hmmm... if the cashflow is so tight at the dealer that they would want to wait for your money to clear the finance, I'd be leary of them still being in business if you want any warranty work done.
Just a thought.

Unlikely that the warranty would be branch specific.

[farzooks]

Well, if it's part of a larger GM Dealer scheme, hopefully that would be covered.

[Yorkshireman]

The warranty is with Nissan

[Phoenix .]

I worked in the motor trade 16yrs. This is not normal practice, in fact it is a very underhand ( if not illegal) way to conduct business.
I wouldn't buy a set of tyres from them let alone a car!

[Yorkshireman]

They said when they px'd the car we are buying with the previous owner they paid off his finance,because he bought another car with them they refinaced with there own finance company GMAC.It is strange but they will show us proof it is clear of all finance before we drive off.

[Greigster]

Hmm. it sounds mighty suspect, why would they want to re-finance a car they had just taken in PX. It almost sounds as if they are in financial difficulties.

Bargepole and wouldn't touch them with a spring to mind.

Good luck with whatever you decide but be very careful

[Deleted]

Apr 25, 2013 7:56:57 GMT Yorkshireman said:

They said when they px'd the car we are buying with the previous owner they paid off his finance,because he bought another car with them they refinaced with there own finance company GMAC.It is strange but they will show us proof it is clear of all finance before we drive off.

Take a copy of said proof too before you leave.

[Yorkshireman]

Apr 24, 2013 12:13:55 GMT @simate said:

Apr 24, 2013 11:14:00 GMT hesta said:

They should clear it before selling, ask them to clear it because technically it isn't their car to sell until it's paid off I believe!

Correct.

I used to work in sales at a Vauxhall dealer, this isn't normal practice.

Hi Simate,apparently the way they do there finance is called stocking policy,have you heard of this?