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| The Pub For General Automotive Related Talk |
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19-12-2009, 10:52 PM
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Formally Hsing
Join Date: Nov 2008
Location: Perth W.A
Posts: 371
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So i live in Perth
And this f6 ive looked at hasnt been paid off... but its been bought with there house mortgage.. So is it ok to buy a car that has been bought off a house? or does it still work the same as a car bought with finance an hasnt been paid for? Sorry if some of this doesnt make sence thanks!
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Bf F6 Tornado In ShockWave |
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19-12-2009, 11:02 PM
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Where to next??
Join Date: Oct 2006
Location: Sydney
Posts: 8,893
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Not making much sense.
Been 'bought' with a house mortgage? The only way to do this from what I understand is you redraw from extra repayments (or re-finance and increase your loan) and pay cash for the car, meaning no money oweing. But why would a seller mention this then?? Are there loan packages that involve the finance of a car into the security of the loan? Don't know? Can you be more specific? |
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19-12-2009, 11:04 PM
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FF.Com.Au Hardcore
Join Date: May 2007
Location: Geelong
Posts: 2,374
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Ring your R.T.A and find out if there is any encumbrances on the vehicle also i think you can do it over the web cost $20 to $30
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19-12-2009, 11:06 PM
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Where to next??
Join Date: Oct 2006
Location: Sydney
Posts: 8,893
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Quote:
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19-12-2009, 11:11 PM
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Formally Hsing
Join Date: Nov 2008
Location: Perth W.A
Posts: 371
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i mean he used his house mortgage to buy the car sorry if i still dont make sence
Umm so he borrowed on his house??
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Bf F6 Tornado In ShockWave |
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19-12-2009, 11:14 PM
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Performance Inc.
Join Date: Aug 2008
Location: In a cave
Posts: 2,554
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If he borrowed on his house the car is free and unencumbered but get a REVS check done for piece of mind but if he is telling you the truth it will be ok.
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19-12-2009, 11:16 PM
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FF.Com.Au Hardcore
Join Date: Jan 2005
Posts: 632
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mmm, if he borrowed using a redraw facility or similar then he would have paid for the car outright, there would be no finance owing on the car.
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19-12-2009, 11:19 PM
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Formally Hsing
Join Date: Nov 2008
Location: Perth W.A
Posts: 371
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ok thanks guys!
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Bf F6 Tornado In ShockWave |
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19-12-2009, 11:27 PM
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Mercury XR6
Join Date: Jan 2009
Location: Melbourne
Posts: 758
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you can check if the car has finance on it, from the vicroads link below. cheers
http://www.vehiclestatuscheck.vicroa...icleInput.aspx
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(VIC) Part BA BF Cleanout Sale - Free Used Tyres |
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19-12-2009, 11:38 PM
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FF.Com.Au Hardcore
Join Date: Feb 2007
Location: Perth
Posts: 7,238
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Here ya go, just punch in the rego and it will tell you if there's quids still owing.
http://www.revscheck.com.au/
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jaydee351 4DV8 |
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20-12-2009, 12:12 AM
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Walking with God
Join Date: Mar 2005
Location: Melbourne
Posts: 7,321
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Should be okay, redraw = cash. His home loan just got a bit bigger! He just owes the bank extra now, whatever the outcome of the sale with you or anyone else.
Certainly use the links provided above to do the relevant legal checks though. GK
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2009 Mondeo Zetec TDCi - Moondust Silver 2015 Kia Sorento Platinum - Snow White Pearl 2001 Ducati Monster 900Sie - Red Now gone! 1999 AU1 Futura Wagon - Sparkling Burgundy On LPG Want a Full Life? John 10:10 |
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Need Help!!!
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