We are looking to buy a new 2nd hand caravan. We have seen one we are interested in and have been asking questions about it.
Tonight we emailed the person and asked if
1. it was CRIS registered
2. any outstanding finance on the van
He replied to us and said it WAS CRIS registered but in his old address as he has just moved and hasn't updated all his stuff yet, he did give us his new and old address as well.
He said there WAS outstanding finance on the van but this would be paid off with the money when the van was sold.
We think we know what we are going to do (most prob leave it) but we just wanted to ask your advice what YOU would do. Its not that we don't trust him, there are some honest people around but 10 grand is a hell of a lot of money to lose if he isn't trust worthy and we're not willing to take that risk.
What would happen if he didn't pay the finance off when the van was sold? would we be liable?
also if we do leave it as we are 99% sure we will, how do we tell him without offending him?
for that amount of money I will go to a dealer there is a chance you might get a new demostrator caravan, if he does not pay it off you will be the loser twice unless he give you detail of the finance company where you can settle the outstanding balance yourself.
------------- Simply Yung.(early retiree and loving it)
09 Mondeo 2.0 TDCI,07 Senator Virginia
April 1 ~ 5 York CP
5 ~ 11Loose hill C C
11 ~ 19 Gaer Hyfrid C C
If I was going to pay £10k privately for a caravan--it would need to be far cheaper than from a dealers forecourt so I would guess this 'van is large & a yr old--I would want to see the original reciept from where it was bought--I would want to know about the finance & I would make the cheque for the amount owed to whoever he had borrowed the money from--not the seller himself-----
If it's the right van at the right price then there's no reason not to buy it if you protect your interests. That means he either pays the settlement figure before you buy, or you pay the settlement to the finance company and the balance to the vendor.
If you want it, you need to ensure that any finance company interest is take care of, either by getting confirmation from the finance company that they no longer have an interest, or by making a mutual agreement between yourself, the vendor, and the finance company (who actually own it if it is on HP)
I agree it does sound like a lot of hassle and to be honest i wouldn't really know where to start. My hubby also said with the van only being a year old on HP, there is robably more outstanding finance left on the van than what he'd get selling it anyway, so unless he has money sitting around it probably wouldn't all get paid off. All we want to do is buy a caravan thats legit and hassle free.
The caravan in question is a 2007 ABBEY Vogue 540 6 berth single axle. We have looked around a couple of dealers near us and at Highbridge but they only have new ones and are about 13 grand which we can't really afford and we'd still have to get an awning etc, we thought we'd buy privately and get more for our money too.
There's absolutely nothing in what the OP says that suggests anything untoward. There's nothing inherently unusual in someone selling a vehicle that's on finance. It's really not that difficult to get details of the finance and get the settlement figure from the finance company which should also confirm that the vendor is the borrower. The issue of title is one that can be dealt with easily.
My concern would be the same whatever 2007 van I was buying, i.e. what's the reason for selling, is there a hidden problem? That applies with any purchase, private or trade, but especially private as you will have no warranty from the vendor (though you might have the balance of a manufacturer warranty).
just ring him up and tell him you are not interested in it,end of problem, dont worry about upsetting him just get round and start looking again, for that sort of money I would be looking at a dealers stock and do a bit of haggling
but the best of luck in you deal
------------- "PACESETTERS" German Shepherd dog display team, we are out and about raising money for guide dogs.
It is ok to buy a caravan which is on finance, as I sold a car with finance. First of all I got the finance company to send a letter stating how much was owing, they give a date that this will be valid to, the buyer then writes a cheque to the finance company to pay it off, any balance after the finance is paid off then a seperate cheque is written direct to the person.
You then both place cheque in the envelope to the finance company, and go to the postbox together, wait about 7 days for the finance to clear, ring them and check, then the buyer can give the additional monies for the van as normal and can take the caravan. It's the buyer who is taking the risk, but as they know where you live, it should be ok.
If you need any further advice, phone consumer direct. As Mrs Mop says, it can be sorted out with the finance company provided the seller has the means to pay off the outstanding finance but you need to check this. When we were looking for our first van, the CRIS check revealed there was finance still outstanding, which when we queried it found that it was more than the selling price. The sellers wanted us to take it on trust that they would pay it but the finance company told us that if we bought the van, they would re-posess it as it was not the seller to sell (because HP agreement means the van remains the property of the finance company until the debt is paid). The strange thing is that if we had bought the van without knowing there was outstanding finance, there are laws to protect us, but as we had carried out a CRIS check we already knew.
Hi i sell vehicles for a living and have a consumer credit licence which comes from the office of fair trading, this allows me to sell any vehicle to the public if they require it on finance, Be careful, any vehicle inc caravans that are on finance belong to the finance company and it is illegal for anybody to sell a vehicle that is on finance, even if they say they are going to pay it off, Believe me its in the small print ,Your only option is to pay the finance off directly to the finance company and receive a receipt from them giving you clear title to the van once your funds have cleared (usually 10 working days) and any balance left to the person who is selling. The only person who can obtain a balance for the finance which is outstanding is the one who's name is on the agreement this is because of the data protection act,just be careful before parting with your hard earned cash,If you buy one on finance they will take it off you
Tim
------------- malletsmallett
Cometh the hour
cometh the VAN
Steer clear of this one too much trouble and risky,for 10000 quid you should have no trouble at all picking up a van you like buy from a dealer, with no trade in you will also get a start up pack and a warranty at least 6months cover and risk free.
------------- Cheers Jim.I Reserve The Right To Be Wrong.
Thanks for your replys, just wanted to let you know we've now found a van, from a dealer, think we got a good deal too.
Its a brand new sterling Europa 540 2007 demonstrator model. Window price was 13,475, we said we had an Abbey Alfa 540 (1990) to maybe part exchange but didn't know whether to sell it privately or not, we' been offered £1000 at 2 other places, he said we could have the new van for 11,800 without part ex or 11,500 with part ex, he said you can look at it 2 ways, i'm either giving you a lot of discount off the new van and £300 for our old van or a lot for your old van and nothing off the new van. As it was the last one we asked fpr a price with the extra bits we needed and he said he could do us this deal..
Van, Apache Torino awning, ground sheet, microwave, cd/radio, motor mover, hitchlock, wheel clamp all for 13,890 so we asked him to hold it for 24 hours for us to decide and we'd get back to him today. We weren't sure about microwave so asked how much less that would be,, he said about £115.
Went back today and said we wanted the van but didn't want the microwave, we asked about the cost of an alarm and the theft busters thing where they etch all the van and stuff inside and microdot it, it was about £300 for the alarm and £200 for the theft busters, He said he'd do it instead of the microwave for the same price, well we were well happy. After we'd done the deposit etc my hubby asked what groundsheet it was and it was the open weave, hubby said he wanted the close weave and so he said he'd swap it for that too :)
All in all i think we had a bargain, do you agree??
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Topic: Advice needed on buying a caravan please
