I bought a van with outstanding finance?
I recently bought a new van from a private seller and I am now trying to sell it.
I haven’t been able to get a log book for it (DVLA say the police are expected to come out and do some sort of check on it before they send the new logbook in my name) I sent off for the log book 6 weeks ago with my new keepers slip and v62
When I called the police they did say it was not reported as stolen and didn’t give me too much info so I done a HPI check and it has outstanding finance
Where do I go from here? It was a really expensive van and I need the money from it ASAP
I currently have no log book for it and no new keepers slip, and I am waiting for a police officer to call me back to arrange a viewing of the vehicle
- STEPHENLv 71 year ago
You bought a vehicle where the seller couldn't give you the V5? Well, that's something you won't ever do again.
- boy boyLv 71 year ago
never heard the term ....NO V5 -NO BUY? you bought a van you do not own ...the finance company owns it
- PercyqtedLv 71 year ago
You pay the finance off and the van is yours.
If the outstanding finance is in the form of a logbook loan, expect the sharks to come calling amy day soon to reclaim the van.
Next time do the HPI check before you part with your cash.
- Anonymous1 year ago
EPIC FAIL - You should have done a title search before you purchased it that would have turned up the outstanding finance. Where you go from here is back to the person you bought it from with a lawsuit in your hand demanding that they pay off their debt so you can obtain the logbook