QuoteReplyTopic: Buying a car with finance owing? Posted: 02 November 2011 at 8:13pm
My brother wants to buy a car - the chap he's buying it off had finance owing on it. He knows he's liable if he just hands the money over to the seller, and the seller never pays the finance off, so he's obviously not going to do that. However - he still wants to buy the car; anyone know the safe way to do it? I figure there must be one, it's very common to owe money on a car you want to sell, and not many people have the cash just to pay off the finance without actually selling the car first...
Get a letter from the finance company stating how much is owing. Pay the remainder in a bank cheque made out to said finance company with the seller's reference number somehow attached (or you can do internet banking easily), and the rest in cash to the seller.
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Buying a car with finance owing?
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