EoEB

HPI'd a bike I looked ato today and came back:

VRM and VIN currently recorded as having outstanding finance

The lender has no claim on or interest in the vehicle but has registered the existence of a personal loan as part of the Governments Responsible Lending drive. If you are concerned because the vehicle you are looking at has this type of finance, you should seek clarification from seller of the vehicle.

I called the finance company and they said it was known to them but could not give me any further details which is understandable. Called the owner and they said it was a personal load at 0% finance through a Suzuki dealer over 30 months and pays DD until the end of the year. Owner is suprised they said they asked the dealer and they were told that it does not effect the selling of the bike or trading it in.

Any ideas? I am going to call the finance company back tomorrow. Owner says they do not want to pay loan off early as they need the money for the bike. Owner said they would write on the receipt that they will pay the loan in full, but is this enough? And if I would not be liable for the not payig of the loan, WHY put it in an HPI?

Thanks, not having a good time at changing my bike at the moment.

I would tread carefully, if the bike has exisiting finance I would steer well clear myself as the finance company is the owner in legal terms.

It's ok the owner saying that he will pay the loan up but if he defaults the bike could be snatched back at any time by the finance company and you wouldn't have leg to stand on, or bike to sit on.

It's a good job you had it HPI checked!

steer clear

Just make sure if you were to buy it, you make out the sum hes owe's on finance to the finance company via check, and the rest to himself. If he is ok with that, you know he is genuine, if he wants you to pay it all to him, then run away!!

should i check my new bike ???

For £20, yes.

I'll see what he says, I did think of that, I'd even consider paying a small amount more for the bike for the peace of mind. part payment to him and part to clear finance, depending on the amount. He was concerned as he wanted the money for a car to replace the bike. Finance said it can be cleared straight away by debit card. I could always suggest he gets another loan for the car, as long as the bike is cleared!!!!

Whats the next thing, its coming from Lings !!!!!!!!!!!!!!!!!!!!

Steer clear ffs - theres plenty of bikes out there that are o.k, without buying a written off, stolen or one on finance -

KEEP AWAY

yup keep weel away from it, you should already know how devious finance companies are with things like that, theyll tell anyone anything if they have a slight chance of getting more money out of it.
never believe a company that says they have no interest in a vehicle that has outstanding monies owed on it.

Think it's sorted, guy will pay finance off, hpi cleared next day, then I get the bike, after hpi cleared. I even called the main dealer who confirmed the type of finance etc.

Def was worth doing the hpi. And I still won't buy it until it's clear. But, it's such a good bike it was worth the hassle.

what bike is it??

Only another DRZ400sm, 08 plate so one of the last they made. One mature rider who has kept it as new. Decided to keep to the DRZ's for now as I know them and most of my riding is through towns, more fun on the DRZ that on a big sports bike I thought. Plus I'm still learning new things all the time and if I drop the DRZ I can pick it up and carry on, drop a sports bike and get a bank loan.

Bike has Suzuki bash plate, exhaust plate, Suzuki Gel seat, R and G tail tidy, looks nice. Guy is giving me the haynes type serice manuals, all original parts and other useful things he has used on it.

One day I may get a bigger bike, but as most of my riding is about around towns and back roads, DRZ seems the better choice for now. Loads of tune up options for the DRZ too and its ultra reliable and cheap to run.

Is that the black SM from Yarmouth that was on Ebay? Was the highest bidder till auction was cancelled.
Looked a really nice bike

It was, yes, sorry. Selling mine now, hope to get what I paid for it, compared to others I've looked at, there is a lot of rubbish out there.

Got the bike, no problems, just took some time on the phone. Thanx for all the help and advice.