Finance accepted on car, but outstanding finance on HPI?

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JHM.17
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Finance accepted on car, but outstanding finance on HPI?

Post by JHM.17 » Thu Aug 15, 2019 10:16 pm

Hi there everyone,

My mate from work told me about a used car he’s financing from a dealership.

The finance on the car was accepted through a broker and a lender. (Admiral I believe)

He’s ready to collect the car, however - when doing a HPI - it says outstanding finance from 2014.

Is this possible? Will a lender accept to pay out for a car that belongs to another lender? Seems extremely strange to me!

Regards


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R5_RXK
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Re: Finance accepted on car, but outstanding finance on HPI?

Post by R5_RXK » Fri Aug 16, 2019 8:17 am

JHM.17 wrote:
Thu Aug 15, 2019 10:16 pm
Hi there everyone,

My mate from work told me about a used car he’s financing from a dealership.

The finance on the car was accepted through a broker and a lender. (Admiral I believe)

He’s ready to collect the car, however - when doing a HPI - it says outstanding finance from 2014.

Is this possible? Will a lender accept to pay out for a car that belongs to another lender? Seems extremely strange to me!

Regards


Sent from my iPhone using Tapatalk


How many owners does it have? Likely to be from the owner before this,

Exactly the same happened to me recently, on the hpi it will tell you who the finance is with. Sometimes the HPI is not updated by the company. What you need to do is contact the company in question and provide them the vehicle details, ask them if they still have an interest in the vehicle. In my case luckily they had no interest in the vehicle I was purchasing and all finance had been settled. Of course ask for this in writing to be emailed to you.
Owner of BMW E81 Sparkling Graphite M Sport 3 Door Hatchback

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