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smltd

BCA car with outstanding finance

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Morning everyone,

A couple of days ago I was about to bid on a car from BCA but I run the HPI check and it showed as having outstanding finance. I called the branch, they carried out their own check and said they’ll retract it from sale.

I was under the impression that all auctioned cars should have no outstanding finance but I’m new to this game and still learning.

Does this happen often?

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Yes.

Simply call the lender and ask them for a clearance letter.

It takes a while to filter through the system.

Had one this week, collected Wednesday, went to finance it on Thursday but it still had the marker.  Quick call to Santander and 24 hours later an email arrived stating "we have no interest in this vehicle."

 

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1 hour ago, smltd said:

Morning everyone,

A couple of days ago I was about to bid on a car from BCA but I run the HPI check and it showed as having outstanding finance. I called the branch, they carried out their own check and said they’ll retract it from sale.

I was under the impression that all auctioned cars should have no outstanding finance but I’m new to this game and still learning.

Does this happen often?

You will see this quite a lot , BCA clear it if you ring them , they have a dedictaed dept to clear the cars and then the vendor sends you an email or BCA forward it to you . When you ring them on a car you've purchased tell them its sold and you need clearance asap . BCA are helpful with this subject .

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On 04/08/2019 at 8:44 AM, smltd said:

Morning everyone,

A couple of days ago I was about to bid on a car from BCA but I run the HPI check and it showed as having outstanding finance. I called the branch, they carried out their own check and said they’ll retract it from sale.

I was under the impression that all auctioned cars should have no outstanding finance but I’m new to this game and still learning.

Does this happen often?

HPI everything before you part with your cash …….

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Had it with a car I bought from Manheim. Their customer services emailed confirming it had no outstanding finance, and got it sorted for me with the finance company - it was an admin error.

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Hi

I would like to buy a car but it says it has outstanding finance, I contacted the dealer and he said that that relates to a stocking unit, which is something a trader will use to buy a car, and it is clear when the car is sold and that I would receive a confirmation letter. Can anyone advise on this please?

Thank you

 

Apogum

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42 minutes ago, Apogum said:

Hi

I would like to buy a car but it says it has outstanding finance, I contacted the dealer and he said that that relates to a stocking unit, which is something a trader will use to buy a car, and it is clear when the car is sold and that I would receive a confirmation letter. Can anyone advise on this please?

Thank you

 

Apogum

Did it say stocking loan ? Did you see the report ? 

I still wouldn't be happy without a clear report , if its a stocking loan ask the dealer to clear it before you buy it . then get proof , at that point your ok . 

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