Buying a second hand car
Before buying a secondhand vehicle, how can I check whether there are any instalment payments or debts outstanding on it?
Asked on Monday, June 11, 2001 | 05:13 AM
John Lock, Patong.
To check if any payments or debts are owed on any secondhand vehicle, simply ask the owner to see the vehicle’s registration book. Finance companies will not give this book to the “owner” until the final payment has been made. If the person selling the car does not have the book, you should go with him to the finance company or the money lender to check how much is still owed. You should note that, in the case of a finance company, such information is regarded as confidential, and will not be released to you without the express permission of the person responsible for making the payments.