HPI Check

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HPI Check

Postby kristoff » Fri Sep 03, 2004 3:04 pm

Am I being a wee bit cautious here but does it make sense to get an HPI check on a prospective purchase? What's the general concensus amongst the members?

Chris :?:
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Postby Richardn » Fri Sep 03, 2004 6:18 pm

May make sense on a private sale. Must admit I didn't do it when I bought mine though :oops:
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Postby Alan » Fri Sep 03, 2004 9:49 pm

i didn't do it when i bought mine but its always a good idea.

suppose it depends on the age of the car also,

a year old car is much more likley to have finance on it than a 14 year old car.

but it doesn't mean you shouldn't bother with older models
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HPI Check

Postby Mike and Di » Sun Sep 05, 2004 6:54 pm

If you are a member of the public and buy a car in good faith from another member of the public and a have a receipt for the sale, the finance company cannot repossess the vehicle or ask you for payment. Their only course of action is with their customer.
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Postby Colin & Margaret » Sun Sep 05, 2004 7:37 pm

If you are a member of the public and buy a car in good faith from another member of the public and a have a receipt for the sale, the finance company cannot repossess the vehicle or ask you for payment.


If the car is subject to am HP agreement, I think you might find that the finance company has right of ownership until the finance is all paid off. This would be different to where an owner has simply arranged a bank loan through their bank or a loan company. In that case, the lender has no claim on the car.

I used HPI earlier this year when I bought the Sport and found the information good and accurate. It tied up exactly with what I had been told and gave me the reassurance I was looking for before handing over a large cheque to someone I had never met before in a house I had never been near.

Better safe than sorry.

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HPI

Postby shog69 » Sun Sep 05, 2004 8:05 pm

Always HPI a car before you part with the cash. If you buy a vehicle with finance still due on it then the finace company can and will take the car if the payments are default. Bank Loans are diffrent as they are not tied to the item purchased and therefore don't show up on an HPI. HPI also shows if a vehicle has had a colour change, plate change, accident damage that has been part of an insurance claim, police interest etc etc. So it's worth doing if your buying a car in a private sale.
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Postby Phil » Sun Sep 05, 2004 8:51 pm

Can agree with the above, if a car has been purchased with finance, even if the finance was 0% interest, as with a lot of new cars, the car belongs to the finance company until the loan has been repaid. :?

At that stage the finance company will write to the owner stating they have no further interest in the vehicle, exactly the same as a house purchased with a mortgage. :shock:

If on the other hand the car has been purchased with a credit card, personal loan or other unsecured loan, the company providing the loan will take legal action against the person taking the loan out and not the new owner of the car. 8)
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Postby rossp » Sun Sep 05, 2004 10:09 pm

when I bought my 5, the seller told me that there was finance outstanding on the car, but when I did an AA car check they didn't pick it up for some reason.........
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finance

Postby shog69 » Mon Sep 06, 2004 10:19 pm

this can sometimes happens even with hpi, i come across this 3 - 4 times a month. Even with HP finance it's up to the lender to tie car and finance together on an hpi report. sometimes they just forget
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