Thread: buyer beware

Gee thats not good i hope you didnt have a huge deposit on it , good luck mate

yeah good luck with your deposit mate ...........

and thanks for the heads up on this car

Yep always get the details and check before any private transaction. Not good. You may still be able to salvage your deposit.
Nothing wrong with people owing money as long as they are up front and it is paid.

Originally Posted by bigval73

my first post and im sorry its a negative one , but allmost done my dough on a 2004 defender 90 , very cheap it seemed at 15k and too good to be true , i did ask if there was any money owing on the vehicle and his reply was no , he just needed the cash asap.but the owner wasnt willing give me the vin number/rego and i got sus. eventually he gave the wrong vin but the correct rego to which i found money owing on the vehicle .waiting for the deposit back (lets see when ) anyway anyone found a defender 90 in northern nsw please check with revs!. cheers des

There is nothing wrong with buying a vehicle with money owing, as long as it is less than what you are paying for the vehicle. Then when it comes time to pay you pay the Payout Figure directly to the Finance company or Bank (lender) and any residual goes to the seller. The wrong Vin # is a common mistake (i have done it myself), have a look how long it is, I have even had the RTA make a mistake with Vin #'s before.
Maybe you should check into this deal further, get the name of the lender owed the money, get a firm payout figure and date, make arrangements to pay as above and get reciepts and the Title from the Lender. You never know you may be missing out on a good deal. BTW I don't know any details of this vehicle or the transaction, other than what is written in this Forum Post, I have no interest in this transaction, just passing on my experiences in this sort of situation, Regards Frank

15K for a 2004 Def 90 sounds suss in itself. I haven't seen any below 35K

good luck

Originally Posted by Tank

There is nothing wrong with buying a vehicle with money owing, as long as it is less than what you are paying for the vehicle. Then when it comes time to pay you pay the Payout Figure directly to the Finance company or Bank (lender) and any residual goes to the seller. The wrong Vin # is a common mistake (i have done it myself), have a look how long it is, I have even had the RTA make a mistake with Vin #'s before.
Maybe you should check into this deal further, get the name of the lender owed the money, get a firm payout figure and date, make arrangements to pay as above and get reciepts and the Title from the Lender. You never know you may be missing out on a good deal. BTW I don't know any details of this vehicle or the transaction, other than what is written in this Forum Post, I have no interest in this transaction, just passing on my experiences in this sort of situation, Regards Frank

thanks for the comments guys ,it may be a bit (A AFAIR BIT!!!!)more than 15k but looks like a deals done .ive wanted one for ages but the practicality of having a 110 allways seems to sway my judgement over a 90 . waiting for the corect paperwork and i hope ill have pics up next week to show you. id be a happy camper with the disco and the 90 in the garage .cheers des

Ok, and with respect, am I missing something?? Bloke wont tell you rego or VIN....alarm bell no.1, gives you rego and wrong VIN, and even after alarm bell 1, pay a deposit. So we have alarm bell 2. Now you are paying a fair bit + more than $15k......so what are you paying?? In otherwords finish the story .

Maybe you should check into this deal further, get the name of the lender owed the money, get a firm payout figure and date, make arrangements to pay as above and get reciepts and the Title from the Lender.

Also note that the only person who can get a payout is the client, so get them to get all that information etc....do not pay direct to the client under any circumstance....common sense but people do it,

Regards

Stevo

Quote:Also note that the only person who can get a payout is the client, so get them to get all that information etc....do not pay direct to the client under any circumstance....common sense but people do it,

Stevo, I have bought a number of items from sellers that owed money on the items, I with the seller approached the finance company and explained the deal, we were given the total payout figure and the date that it had to be paid by, car yards do it all the time on trade ins. There used to be deals around a while back where people sold cars as "take over terms", these deals were usually illegal as the lender requires that the owner of the car, that person named on the original contract, be the person in charge of the car and responsible for the payments. It could be done by applying to the lender to finance you, Regards Frank.