Is it OK to buy a car from a dealer with Unit Stocking finance on it?

Question

I'm currently looking to buy a car and after doing a Data Check on the car it has come back saying there is a Unit Stocking finance agreement on it. I know this is something to do with a dealers finance, but does anyone have any experience of buying a car with this involved?

Answer 1

as far as i know it to do with the garage  who has the car for sale and the suppliers. the supliers  give the garage a agreed amount of time to sell the car if they havnt sold the car in that time .the garage had to purchase the vehicle weather they sold it or not.....

Answer 2

Walk away from it. If there is finance outstanding it will be Hire Purchase and the company can legally reclaim it and you will be out of pocket.

Answer 3

Could be that the finance has been paid but the data system not up dated. Happens quite allot.

The name of the creditor should be on the report, best bet is to give them a ring to see if it has been paid off.

Otherwise leave well alone!!!