Buying A Privite Used Car?

[Tamrb26]

hi peoples, im planning to buy a sportivo corolla tommorow, i know i have to call up vicroad to see if the car is clean. If the car is still on finance what should i do, is it a risk buying if the car still on finance?

Thanks Tam

[dan_the_man]

dont do it.

if you do. write the cheque out to his finance company. do not write it out to him.

[Tamrb26]

dont do it.

if you do. write the cheque out to his finance company. do not write it out to him.

ook kool, so i must talk to the seller about it then. any other advise?

[GTR-N1]

ook kool, so i must talk to the seller about it then. any other advise?

So assuming that the car is a great deal but still under finance, you can make arrangements to go with him to the Finance Co/Bank when they open on Monday so that

i) you get a final statement of how much is still owing, and then if they'll clear the debt with your bank chq, and give you a written clearance, you then furnish them with that chq and...

ii) give another bank chq to the vendor for the balance of the agreed price and get a receipt from him/her as well; but also saying that there are no other encumberances.

The maximum (refundable) deposit that you hand over tomorrow could be $100 (to lock the deal up 'as a contractual agreement') & then he/she must give you a receipt to say that + what the balance will be on Monday. If he/she dithers beyond Monday, then you can take the option of getting your $100 back.

How does that sound?

Cheers, T

PS Best of luck