Son has agreed to buy a car from a work colleague - a 3 year old Polo.
Has sold his own car, we have the money ready to buy the car tomorrow but the colleague has now mentioned that there is outstanding finance on it.
He knows she has bought a brand new car and everything has been done between colleagues like you would amicably and there is absolutely no indication that she is not cosha.
She is saying that once we pay her, she will then clear the finance. This makes sense as she cannot settle the finance until she has the money!
However I assume she could just pocket that money and then ultimately VWFS could repossess the car (its on a PCP ending December)
How best can I deal with this? I have run one of these paid-for car checks and it has confirmed that there is a pcp with VWFS exactly as she says, with an agreement number. I am thinking that what we should do is basically, in some way or another, pay the outstanding balance to the finance company and the rest of the money is paid to her. But I assume the finance company will not give me any information whatsoever so do I take her word on what is outstanding?
Any suggestions?
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Buying car privately with finance outstan.. new
Buying car privately with finance outsta.. new