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Discussion Starter · #1 ·
.....as indicated on the HPI report, but I was already aware of this as the owner told me. I have agreed to buy the car in question and he is arranging for the finance to be paid off.

What I want to know is how long it takes for updates to propagate accross to the HPI database? Once he tells me the finance is clear I am in a position to buy the car but how do I verify finance is clear?

How long should I wait beforfe getting another HPI report done on it?

Also, would the finance company confirm any outstanding finance is clear if I phoned and asked or are they a bit funny about giving details like this out?

Any help would be great [^]
 

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Sem

Call the finance company direct when he tells you he has paid it off then get them to confirm in writing the outstanding finance has been paid off. This is what I did when I bought a car, and never had any come backs.

Hope this helps

Mike
 

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Discussion Starter · #3 ·
Cheers for the advice mate, the finance agreement is with Volkswagen Finance, anyone had similar dealings with them?
 

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Sem,You should ask him for a letter from his finance company confirming he has settled the account in full,the car is the finance companies(NOT HIS/HERS) until it is paid off.....It is upto him/her to prove the car has no outstanding finance and easy to do,puts your mind at rest.Even then,if in doubt WALK AWAY.after all there are plenty of really nice mkiv's out there.....
 

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Discussion Starter · #5 ·
Well a letter can easily be forged.....anyone can make a VW Finance letterhead and write a few paragraphs! I think the safest way would be to speak to the finance co direct and get them to send/fax me the letter.

It's not a MKIV that i'm looking at though [:p]
 

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Quote: posted by Sem on 22/09/2004 22:13:24

Well a letter can easily be forged.....anyone can make a VW Finance letterhead and write a few paragraphs! I think the safest way would be to speak to the finance co direct and get them to send/fax me the letter.

It's not a MKIV that i'm looking at though [:p]

The Data Protection Act may forbid them giving you any such details, as they have a duty to protect his data.
 

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the people who did the hpi check should do all this they are ones to confirm it has been paid and they should send you writern confirmation in the post you sholud have to pay again this is what happen when i bought my 1.8t. i did the check with the aa however all this took about two weeks.
 

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I can do hpi checks where i work, but it leaves a mark on the car and they would querey why an auction is checking up on it. sorry. just ing the finance company, they should be able to tell you if they dont have interest in the car anymore.
 

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Some HP companies will allow you to raise a cheque to them for the outstanding balance on the car, so when you buy it you give a bank draft to the owner for the outstanding lump of HP with HP companies name on it (so the owner cannot cash it), and pay the owner the balance in whatever he wants! simple
 

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A friend of mine bought a Puma which had finance outstanding, she made a bank transfer over the phone to the finance comapny for the outstanding amount, giving the balance to the seller all on collection. The finance company confirmed the outstanding amount was clear and title had been passed over.
 

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My car had outstanding finance when I was looking to buy it, I decided the best way was to pay the amount off with my card, that way I was 100% sure it had gone thru . . .
 
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