Check for outstanding finance before you buy that used car

Always ask the seller of a used car whether the vehicle has ever been subject to a finance agreement before you buy, advises HPI.  The latest tip the leading provider of automotive data says that if there is still finance left to pay on the vehicle, you should ensure you get written confirmation from the seller that the finance will be closed following the sale. 

A check with HPI can reveal whether a vehicle is still subject to an outstanding finance agreement.  Remember that the vehicle remains the property of the finance house until it has been paid off in full.The HPI Check is available to used car buyers at www.hpicheck.com or by calling 01722 422 422. The check costs £19.99. The Check will tell you if a used car you are interested in buying is currently recorded as stolen, has outstanding finance owing or has been ‘written-off’ by an insurance company. It will also tell you, if the information is available, the market value of the model of vehicle being checked.

Author: Faye Sunderland, April 21st, 2009
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