Person Loan Still outstanding? Advice

[Jadc]

Hi Guys,

Was going to be buying a bike tomorrow but obviously I did an HPI check and it said it still has finance on it still Black horse So i called the guy up and said Just did an HPI check and it says it still has finance owed on it and played oblivious to it and said he didn't know it has he paid cash for it from previous person....He does seem a well spoken guy and reason for sale is a new addition to the family so.... I know you will say do not touch the bike and etc

Outstanding finance - 11/11/2009

but down below it says current owner acquired the motorbike on 26/05/2010


I will be calling the blackhorse up tomorrow with the reference number I have to see if there is finance could there be a chance the site hasnt updated yet?HPI site that is

Advice?

[Polarbear]

As far as I know (and Im not an oracle here) Black Horse do personal loans not hp and therefore I didn't think they were secured against the bike

Hoiwever if it is listed as finance against the bike, do check with black horse like you are going to. The finance company can come and take it off you if money is still owed on it.

It might be its paid off but hasn't been removed from the register. This happened with a Tiger I bought. Still listed as stolen in 1994! The police wern't interested and said data bases were only ever any good if updated regularly, and these aren't!
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Triumph Trophy Launch Edition

[Jadc]

it does say this from the HPI CHECK on the website .

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.

but i will be ringing the finance company tomorrow as you say sometimes they dont update the database .

[Polarbear]

It's a personal loan if it says that. You can buy it no problem but you should still get it cleared as it might prove troublesome when you come to sell later.
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Triumph Trophy Launch Edition

[andys675]

If you have a bike on Lloyds personal loan they have to have your permission to take the bike back or go to court to take the bike off you, if they just turn up at your house and say "you're behind with your payments, can we have the bike back" you can tell them to eff off if you like, then they have to take legal proceedings while you move the bike elsewhere if you're inclined to

[Polarbear]

[kawakid]

[Polarbear]

I re4spect your opinion, but that kawa finance via black horse is not hire purchase, its personal loan. The PCP is completely different & I dont understand that at all
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Triumph Trophy Launch Edition

[Jadc]

Spoke with blackhorse and she said where it is motor personal loan, they are interested in the loan but not the bike so they just want the loan settled so i am all good to buy the bike

[waffles]

[DrDonnyBrago]

My bike came up with outstanding finance when I bought it.

The previous owner had a letter from the company saying they had no further interest in it as the loan had been paid off, the company had subsequently gone bust but not cleared the mark against it.

I phoned the new parent company and they said the loan is paid off etc etc and that it was just a personal loan, not secured against the bike.

There are honest reasons that a bike can have a mark against it, inept finance companies are normally the cause in this instance.

[iooi]