Buying from a dealer

[acropolis22]

Never bought a used motorhome before, nor a used car. So complete rookie really. Planning to buy from what appears to be quite a big and reputable dealer. (Laughter all round). What's the deal with HPI checks? They say they will give me one for free. Can I rely on that? What other paperwork wrinkles should I look out for before parting with money? Any and all advice appreciated.

 

[Despicable]

As it's illegal to sell someone else's property without their permission the dealership would be in the proverbial for that; and the dealership, as part of their agreement (contract) with you, have assured you that an HPI check has been carried out must be correct, as that will be another breach of trading standards if false. So, all in all, you should be okay. However, I suggest that you pay for part of the motorhome with a credit card, as that should give you additional protection.
Then of course, I could be talking total bo**ocks, but in my view a contract with a reputable company is a contract and if they were not the rightful owners of the motorhome, in the first place, then that contract is null and void and they are liable for all your expenses.
First offence? Right, crucifixion. Next case, please!

 

[acropolis22]

As it's illegal to sell someone else's property without their permission the dealership would be in the proverbial for that; and the dealership, as part of their agreement (contract) with you, have assured you that an HPI check has been carried out must be correct, as that will be another breach of trading standards if false. So, all in all, you should be okay. However, I suggest that you pay for part of the motorhome with a credit card, as that should give you additional protection.
Then of course, I could be talking total bo**ocks, but in my view a contract with a reputable company is a contract and if they were not the rightful owners of the motorhome, in the first place, then that contract is null and void and they are liable for all your expenses.
First offence? Right, crucifixion. Next case, please!

Thanks for the credit card idea. Hadn't thought of that. Basically I was just going to do a bank transfer.

 

[Puddleduck]

I would also check that there is not any sort of outstanding stocking finance on the vehicle. There is a proper name for this which I don't recall at the moment - this type of finance is widely used when there is a stock of high value goods. Double and triple check that there is no equivalent of a mortgage on the vehicle and you have a free and clear title. HPI will not show up this type of charge.

If the vehicle is less than £30,000 then you might be covered as Despicable says. Section 75 (?) covers items from £100 to £30,000 but there are exclusions. It doesn't matter if you pay all or some by the card if it is more than £30,000 it isn't covered, not even £30,000 worth.

 

[acropolis22]

I would also check that there is not any sort of outstanding stocking finance on the vehicle. There is a proper name for this which I don't recall at the moment - this type of finance is widely used when there is a stock of high value goods. Double and triple check that there is no equivalent of a mortgage on the vehicle and you have a free and clear title.

Interesting. How would I check that?

If the vehicle is less than £30,000 then you might be covered as Despicable says. Section 75 (?) covers items from £100 to £30,000 but there are exclusions. It doesn't matter if you pay all or some by the card if it is more than £30,000 it isn't covered, not even £30,000 worth.

Damn! Thwarted again.

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[Puddleduck]

It's a chattel mortgage and I think you would have to ask the dealer and then check with the finance company that it has been paid off by the dealer (assuming there is such finance). Jim might be able to help more. I am only aware of vague details from a few decades back when I compiled accounts for car and van dealers and could see the changes in the stock books and the identities of vehicles included in the mortgage. One of the main dealers for a major vehicle manufacturer financed his business via chattel mortgages and his books were great so it was clear which vehicle had a mortgage, how much was involved, when the vehicle was sold and when the mortgage was redeemed - all backed up with paper files as we did in those days.

Another dealer was disorganised to say the least and his books were a complete work of fiction.

 

[acropolis22]

It's a chattel mortgage and I think you would have to ask the dealer and then check with the finance company that it has been paid off by the dealer (assuming there is such finance). Jim might be able to help more. I am only aware of vague details from a few decades back when I compiled accounts for car and van dealers and could see the changes in the stock books and the identities of vehicles included in the mortgage. One of the main dealers for a major vehicle manufacturer financed his business via chattel mortgages and his books were great so it was clear which vehicle had a mortgage, how much was involved, when the vehicle was sold and when the mortgage was redeemed - all backed up with paper files as we did in those days.

Another dealer was disorganised to say the least and his books were a complete work of fiction.

OK, there was a thread about this on Fun. So if the dealer claims there is no chattel mortgage when there is,how would I know?

 

[Puddleduck]

OK, there was a thread about this on Fun. So if the dealer claims there is no chattel mortgage when there is,how would I know?

All you can do is get it in writing. Does anyone have a list of companies that provide chattel mortgages?

 

[gus-lopez]

OK, there was a thread about this on Fun. So if the dealer claims there is no chattel mortgage when there is,how would I know?

You need to read through thread about them as I believe that you have to check each chassis number individually.

 

[acropolis22]

You need to read through thread about them as I believe that you have to check each chassis number individually.

Yeah, I read the thread. The OP had already bought and was sweating on whether his was a wrong 'un. So he could invest the time. I can't see it's practical for me to wade through hundreds of mortgage lender records online before buying while the dealer waits. Probably will just try to get it in writing. There is no reason to suspect a problem, and I'm guessing about 1% of buyers have ever heard of this.