a bike i'm looking to buy has come back with some finance owing on the HPI check, the seller told me about this before i did the check and says as soon as the bike is sold, he is paying the finance off,

the bike is a good deal, and i' will struggle to find another this good tbh,

what would be the best way around this ?

cheers
Ray

He can say what he likes, but if he doesnt pay it off, they'll take the bike. Doesnt matter who owns it.

Maybe a scam? if its too cheap

[Edited on 4/9/10 by Ben_Copeland]

this is the sort of thing my brother would do. he owes £xxxxs to debtors. he would sell the bike pocket the funds and not bother to pay off the debt.

you can't take that risk.

if he REALLY wanted to pay off the debt, surely he could find a friend/family/employer to lend him the money before he paid them back 2 days later when u pay him. hpi cleared is the only way u can buy this.

[Edited on 4/9/10 by mrwibble]

Id be getting 2 bankers drafts, one for the finance company and the remainder of the total price on a bankers draft for him!

^^^ wot prawn baby said.


search for this subject as this came up about a month ago - you have gotta may sure the loan is paid of - don;t rely on the seller to do that.

contact the finance company. Pay the bloke what he is asking LESS the amount due on finance. Pay of the finance yourself.

Paul

Get the seller to get a settlement figure in writing. And as previously said get two bankers drafts, one made to the seller with the amount being less the settlement figure and make the other to the finance co. for the correct amount.

As also said, do not under any circumstances proceed with the transaction any other way as you will expose yourself to too much risk.

Pete.

Just to confirm what others have said ^^ there was a Police , Camera, Action ('cmmon we all watch it!) where a couple were left by the side of the road after plod pulled them for it having been stolen. Transpired it was exactly that scenario where they had bought it in good faith and the old lady vendor had not paid-off the finance company.
If it sounds too good a bargain then it probably is!!
Cheers, Pewe

Not to bang on, but he doesn't own it, the finance company own it. If he doesn't give the finance company the money they WILL come and get their property back.