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Buying A Privite Used Car?

Tamrb26

By Tamrb26,
in General Automotive Discussion

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Tamrb26 Enthusiast

Tamrb26

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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

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Tamrb26 Enthusiast

Tamrb26

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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?

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GTR-N1 Grand Master

GTR-N1

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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

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