"Interest registered against a previous plate"

[gcon45]

I'm selling a car and have a buyer lined up.

He did a HPi check however and found that it was clear apart from a note saying that "Interest was registered against a previous plate".

The plate that the interest was registered to was an English number. I bought the car from Hurst used direct so I'm assuming they bought the car from the previous owner and settled the interest on his behalf as there is no interest registered against the current NI plate.

The buyer wants confirmation in black and white that this has been sorted before handing over the cash however.

I'm just wondering that being the current registered owner, is there any way I can access this information and print it out for the potential new owner or will I have to try and get in touch with Hursts on Monday and get them to send it?

 

[Nicky]

Do a full proper HPI check yourself, not just a reg check, and it should indicate what the interest is, or state that it's no longer a debt lying with the vehicle.

 

[saxo_man]

If he rings the company who done the check they will clarify the issue. Had similar with a check I done, the hpi company were more then helpful.

 

[gcon45]

Thanks for the replies.

The potential buyer has actually sent me the link to the actual HPi check he done.

It let me add more details like VIN, V5 serial number and V5 issue date.

I put this data in and it comes up that:

• Interest registered against VIN
• V5 issue date not matching records

What a pain in the hole:

I'm assuming the V5 registration date mismatch is just a mistake.
As for the finance, would I be better contacting Santander with the details?
It seems 'unit stocking' is how a lot of dealers fund the stock on their forecourts so the finance has nothing to do with the previous owner.

 

[saxo_man]

Edit. Just re read the image.

 

[mk2driver]

Thanks for the replies.

The potential buyer has actually sent me the link to the actual HPi check he done.

It let me add more details like VIN, V5 serial number and V5 issue date.

I put this data in and it comes up that:

• Interest registered against VIN
• V5 issue date not matching records

What a pain in the hole:
View attachment 89133

I'm assuming the V5 registration date mismatch is just a mistake.
As for the finance, would I be better contacting Santander with the details?
It seems 'unit stocking' is how a lot of dealers fund the stock on their forecourts so the finance has nothing to do with the previous owner.

Did you buy the car after that date in November? As you say unit stocking loans/finance is heavily used now so it wouldnt be a surprise if that's what was done. Usually the finance when the car is sold is then through the same company and essentially the dealer gets paid their profit between the stocking loan borrowing and the sold borrowed amount.

However if you didn't buy using dealer supplied finance they have to pay the stocking loan company the amount they borrowed plus possibly some fees/interest. Now being a big dealer they should be doing this properly but it may not have been completed correctly or it has but for some reason the HPI system hasn't been updated by Santander. I have seen both of these happening the past.

Ring Santander first with the agreement number and ask them if they still have an interest in the vehicle or is it just the HPI system hasn't been updated. If they have an interest in the vehicle the ring Hursts and tell them that they need to sort it!

 

[gcon45]

Yes Stefan it was Feb 2015

 

[gary87]

I work for Agnews and when it comes up Unit Stocking on our HPI reports, that's what they are recorded as when they are in stock before transfer to customer. Hursts should be able to get that removed for you.

 

[gcon45]

Update; what a pain in the hole.

I contacted Santander finance and they said the interest should have been removed months ago from this car and apologised saying that they will contact HPi and prompt them to update their report.

I also contacted HPi who were also full of apologies and stated that it was a glitch in the system and that the report will be clear within 5 working days.

Apologies are all well and good but I've lost 2 potential buyers due to this and I don't blame them for walking away to be honest because if the shoe was on the other foot, I'd walk away if there was even a hint that the HPi report wasn't squeaky clean.

So yeah, HPi, doing the honest man with the honest car out of a sale.

I'm done with selling cars.
I'll be leasing the f**k out of them from now on.

 

[Jason]

Hursts bought the car on stocking money from Santander and never cleared the reg when sold.

 

[SMcP114]

Not to mention the potential buyers who were interested and did the check before they got in touch with you

 

[Jason]

Not to mention the potential buyers who were interested and did the check before they got in touch with you

Buyer beware, should have hpi'd it before purchase or sale!

 

[SMcP114]

Buyer beware, should have hpi'd it before purchase or sale!

What?

 

[KyleR]

Update; what a pain in the hole.

I contacted Santander finance and they said the interest should have been removed months ago from this car and apologised saying that they will contact HPi and prompt them to update their report.

I also contacted HPi who were also full of apologies and stated that it was a glitch in the system and that the report will be clear within 5 working days.

Apologies are all well and good but I've lost 2 potential buyers due to this and I don't blame them for walking away to be honest because if the shoe was on the other foot, I'd walk away if there was even a hint that the HPi report wasn't squeaky clean.

So yeah, HPi, doing the honest man with the honest car out of a sale.

I'm done with selling cars.
I'll be leasing the f**k out of them from now on.

I love when they blame a glitch in the system, that glitch is usually called Richard or Maureen or something.

 

[swansty]

HPI check on my wifes car came back as having finance against it which put off a potential buyer. Her reg also came back as an A4 estate on their system when actually it was a TT. Funny enough a few days later I seen a white A4 estate with a reg plate 1 digit higher than hers so maybe some typo at some point by someone. Still, a PITA as it puts off buyers when there is nothing wrong with the car.