Dazmo
Registered User
I need some advice please all,
Im Buying a car from a friend at work, everything is legit and the car is great, there is just one issue and that is that the car has outstanding finance.
Now im not sure how to go about this, obviously i will first leave a deposit on the car and get a receipt for this, subject to the remaining balance being paid and the finance being cleared.
Now my mate is telling me to basically pay the finance on the car and then they will pay the difference and sort the paperwork so that i now own the car.
But im worried about this as i dont want to pay off the finance and then be left with no car or money, even though he is a friend i trust no one.
So would i phone the finance company and pay off the debt and then have all the details in my name to say i now own the car?
Now im not sure what proof/paperwork i will need to cover myself, what steps should i take when paying off someone elses outstanding finance?
Im Buying a car from a friend at work, everything is legit and the car is great, there is just one issue and that is that the car has outstanding finance.
Now im not sure how to go about this, obviously i will first leave a deposit on the car and get a receipt for this, subject to the remaining balance being paid and the finance being cleared.
Now my mate is telling me to basically pay the finance on the car and then they will pay the difference and sort the paperwork so that i now own the car.
But im worried about this as i dont want to pay off the finance and then be left with no car or money, even though he is a friend i trust no one.
So would i phone the finance company and pay off the debt and then have all the details in my name to say i now own the car?
Now im not sure what proof/paperwork i will need to cover myself, what steps should i take when paying off someone elses outstanding finance?