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Discussion Starter · #1 ·
Hi Folks

I'll try to make this short!

I have provisionally agreed to buy a MH from a private individual.
They have put forward:
Me supply 2 bankers drafts, 1 for 55% of the cost to Black Horse Fianance... the other for the remainder [45%] to him.

I read this link and wondered if the above is the 'way to go'?

I will request the 'statement' for final fee from the owner/finance company.

IS there any problem with this way of doing it?

I don't really want any risk.
If Black horse didn't receive their draft... they would only persue me for the amount, which I would pay [presuming the finance companies draft wasn't cashed].

Any thoughts folks??

Wilse[
 

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firewood said:
why not talk tp black horse thay should help
Unfortunately Black Horse will not discuss anything with a third party, we have to get the hirer to obtain a setllement figure and give it to us.

If you have a settlement figure in writing, keep the statement, post the Bankers Draft payable to Black Horse yourself, write the agreement number and the hirers details on the back of the Draft together with an explanatory letter from the hirer.

The statement will normally have a 'settle by due date' on it, make sure you are settling within that time period.

Peter
 

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legally a private individual buying off another private individual, would not be liable to any outstanding finance, well as long as receipt stated none was outstanding, morally on day of purchase get seller to get final settlement figure off finance company and pay them direct yourself , give the remainder to the seller, your in the prime posititon to dictate terms.
 

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Discussion Starter · #5 ·
Didn't think they would talk to me... Data Protection etc.


I have had a HPI and it does show BHF have interest in the MH.
I have a reference number and will call them tomorrow to see if they have any thoughts.

w
 

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There is a difference between HP (hire purchase) and a personal loan.
On HP the vehicle is the property of the finance company until the final payment is made.
On a personal loan the vehicle is not secured against the loan.
 
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