Finance check on new car

G

gilboy

Registered User
Messages
178
Hi

I am planning on purchasing a 2nd hand car from a SIMI registered dealer this week.

I am planning on paying for the car with savings rather than getting a loan. I am wondering about existing finance which might exist on the car.

Should I pay for a finance history check on the car from the likes of motorcheck.ie or is it the case I don't need to worry about this as buying from a SIMI registered dealer

Thanks!
 
Would highly recommend a thorough read through some of these key posts.

In these financially troubled times IMHO the fact that its an SIMI registered dealer does not necessarily mean that credit history won't come back to haunt you so check this aspect out carefully - see key posts.

Make sure to get it checked over mechanically also.
 
If you bought a car that finance owed on it , do the company not go directly to the person who originally bought said car and owe the money
 
they will chase the current owner of the car; i.e. you, if you buy it & money is owed on it.
Get the check if you are unsure. I did. That's my advice.
 
turtle77 said:
they will chase the current owner of the car; i.e. you, if you buy it & money is owed on it.
Get the check if you are unsure. I did. That's my advice.
Click to expand...

Is that not highly unfair as the person borrowing the money must surely have to sign some sort of financial agreement
 
I would think so.

so it doesn't make sense that someone could buy a car for 10k, and then sell it after getting finance...and the finance follows the unwitting new owner.

Are you going to get the check? It's a quick one-off payment that will give you ease of mind. I was strongly advised to get it. I did & it made me feel better.
 
foxylady said:
Is that not highly unfair as the person borrowing the money must surely have to sign some sort of financial agreement
Click to expand...

The person borrowing the money does indeed sign an agreement, and this agreement servers is intended purpose and protects the financial institution by attaching the debt to the asset.
 
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