demonstrator on finance???

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Mon 19 Apr 2004 21:45
demonstrator on finance??? - VTiredeyes
Hi all.
Had my new car (well 7 month old) HPI'd today.
am buying from a SAAB dealership. my bro-in-law has hpi'd it for free for me, he works in motor trade. car is financed by GMAC, it has been refinanced on 01/04/2004, so has 2 account numbers relating to it.
My bro-in-law says not to touch with barge-pole till they clear finance.
i rang said SAAB dealer up and explained, he said that all ex-demo cars for saab are financed like this.
so i rang sutton coldfield and Stockport up, and asked them about their ex-demo cars 4 sale, they all say it will show on hpi as GMAC Finance, but will come with a "clear docket??" what ever this means.
what i want to know is, am i going to be ok with this?
is it something and nothing to be worried about?
i am hopefully picking car up 2morrow.
thanks yawl
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Mon 19 Apr 2004 22:39
demonstrator on finance??? - Ivor E Tower
Sounds like nothing to worry about until you come to sell it. I think you should arrange for another "free" check in a month or so, to make sure it is then "clean".
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Tue 20 Apr 2004 11:10
demonstrator on finance??? - Blue {P}
Sounds like they can't clear the finance until the car has sold, so I think you'll just have to trust that a main Saab dealer isn't going to rip you off and sell a car that they then refuse to clear the finance on. Which I think sounds pretty unlikely! ;-)

Buy it and enjoy it! :-)

Blue
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Tue 20 Apr 2004 11:14
demonstrator on finance??? - Stargazer {P}
From personal experience, check the finance after purchasing the car if this is truly the case. Dont assume it will be cleared. Dont wait until you come to sell or claim on insurance.

I once failed to check a car from a major main dealer in the NE, the car was stolen a year later and only then did the outstanding HPI raise its ugly head. I won in the end but it did go to court.

Ian L.
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Tue 20 Apr 2004 11:18
demonstrator on finance??? - Blue {P}
Hmm, definately worth a repeat check in a couple of months then!

Be warned though, many finance companies tend to forget to de-register their interest in a vehicle on HPi, we get it all the time at work, cars show up with finance, when we contact the finance company they confirm that they no longer have an interest, and sometimes haven't had an interest in the car for quite a while!

Blue
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