Sara Posted April 25, 2010 Report Share Posted April 25, 2010 Hi, my fella has been looking at a new car but sadly the owner still has outstanding finance on it, around £7500 I believe. The owner really likes my fella car and would like to do a deal/swap. He hasn't got the money to pay off the rest of it, and is currently looking for a loan to pay it off, but with every search they say he's searching too much and they refuse him is there any way to transfer the hp over or any other options??? Quote Link to comment Share on other sites More sharing options...
pro3mark Posted April 25, 2010 Report Share Posted April 25, 2010 AFAIK, HP can't be transferred, has to be settled and started again.The owner of the other car would be best off phoning his finance company. Quote Link to comment Share on other sites More sharing options...
Sara Posted April 25, 2010 Author Report Share Posted April 25, 2010 I think he already has to see if he can turn it into a personal loan but no joy.... its just they want to sort it all out asap but sadly the hp is in the way! he is seeing if he can get some money from family to pay it off early. He's my bf mate too lol Quote Link to comment Share on other sites More sharing options...
pro3mark Posted April 25, 2010 Report Share Posted April 25, 2010 Nah, will have to be paid off, i imagine. Quote Link to comment Share on other sites More sharing options...
Sara Posted April 25, 2010 Author Report Share Posted April 25, 2010 cheers, will see what happens! at the total other end of the scale and the last option was going to be my bf would lend the money to him, but they would have to sign up a contact by solicitors etc.... so it would cover my bf if anything would happen! but as I said that would be the very very last resort! Quote Link to comment Share on other sites More sharing options...
pro3mark Posted April 25, 2010 Report Share Posted April 25, 2010 Seems extreme, but that seems like an easy option.UNLESS, your BF buys his car, his mate pays off the HP, THEN applies for a loan, will probably have a better chance without finance against his name. Quote Link to comment Share on other sites More sharing options...
IDGM Posted April 26, 2010 Report Share Posted April 26, 2010 DON'T enter into any 'arrangement' with the owner owing HP.Walk away. Quote Link to comment Share on other sites More sharing options...
bithmeister Posted April 26, 2010 Report Share Posted April 26, 2010 x2it will inevitably end in tears Quote Link to comment Share on other sites More sharing options...
Sara Posted April 26, 2010 Author Report Share Posted April 26, 2010 Hes not even thinking of touching the car.... he said to him as soon as the finance has been cleared and proven, ONLY then will he take a look and sort out a deal Quote Link to comment Share on other sites More sharing options...
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