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28 Sep 20, 08:40 PM |
#11
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VIP Dibber
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Yeah, they transfer ownership for the difference in the amounts. You then own a car with a debt attached which you then settle.
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28 Sep 20, 09:21 PM |
#12
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Thread Starter
Apprentice Imagineer
Join Date: Jan 11
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28 Sep 20, 09:36 PM |
#13
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VIP Dibber
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But surely you would settle immediately with the seller present or the seller is risking you not doing?
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28 Sep 20, 09:36 PM |
#14
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Imagineer
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Why the big rush? If you want the car, let them clear balance then carry out the transaction. Seems a lot if flaffing around to suit them.
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28 Sep 20, 09:40 PM |
#15
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Thread Starter
Apprentice Imagineer
Join Date: Jan 11
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28 Sep 20, 09:46 PM |
#16
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Thread Starter
Apprentice Imagineer
Join Date: Jan 11
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We aren’t rushing and they are faffing. They want to clear the debt just before we transfer the money.
The problem is that the person clearing the finance (on behalf of the owner) does not want to wait 24 hrs until the finance company can confirm its paid to us. I suspect They don’t want to be in a situ that we pull out of the purchase in the meantime and they aren’t getting their money back from the sale immediately. Funny thing is, she has apparently already bought another car on finance The car will sell easily but this scenario is a faff for the buyer, which may put people off. |
28 Sep 20, 11:09 PM |
#17
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Imagineer
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28 Sep 20, 11:36 PM |
#18
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Thread Starter
Apprentice Imagineer
Join Date: Jan 11
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29 Sep 20, 12:09 AM |
#19
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Imagineer
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Cash is king.
They want to sell the car, if they want your money they have to play by your rules. Tell them you won't pay until they clear the finance, walk away if necessary. They will pay it, if they won't they were probably looking to pull a scam |
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29 Sep 20, 05:43 AM |
#20
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Imagineer
Join Date: Jan 08
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Looks like the seller wants their own way whatever happens which puts all the risk on the purchaser.
No way would I buy a car that potentially had undischarged finance, nor would I want to be underwriting the sellers financial solutions. Head must rule heart here, imo unless you have confirmation from BMW, in writing, that the seller has legal title, that title cannot be transferred to you. Watching a financial transaction on an app does not give you any guarantees whatsoever. |
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