Outstanding finance check
On hire purchase and PCP the lender owns the car until the final payment clears. The seller cannot pass on title they do not have, so the agreement stays with the vehicle when it changes hands — and the finance company can take it back from your driveway. This is the check that protects the largest sum of money at risk.
Free check first — the Pro report is the upgrade on your results page. See a sample report.
What the finance check shows
Every agreement registered against the vehicle on the asset-finance database.
- Whether an agreement exists
- And how many are recorded against the car.
- The finance company
- Who holds it, with contact details where they are on record — so you can request a settlement figure rather than take the seller's word.
- Agreement type
- Hire purchase, PCP, lease or another form. The type decides who owns the car right now.
- The date it started and its term
- Both, so the report can work out when the agreement was due to end.
- How long is left to run
- Stated in years and months from today rather than as a raw term length — an agreement started in 2021 over 48 months is not information until someone does the arithmetic.
- The agreement reference
- Where held, so a settlement enquiry can be matched to the right account.
What it cannot tell you
The database records agreements registered by lenders. A private loan secured informally against the car, or money borrowed from a family member, is not asset finance and will not appear here.
An agreement can also be settled without the record being updated immediately. A recent-looking agreement is a question to put to the lender with a settlement enquiry, not a conclusion — and the report gives you the company to ask.
Where this comes from
The asset-finance register lenders report agreements to, queried against the registration as part of the Pro check.
FAQ
Frequently asked questions
- Can a finance company repossess a car I bought in good faith?
- On hire purchase, the car remains the lender's property until the agreement is settled, and a private buyer may have some protection under the Hire Purchase Act — but establishing it is slow, expensive and uncertain. Checking first is far cheaper than arguing afterwards.
- What should I do if there is finance outstanding?
- Do not hand over money privately. Ask the seller for a settlement figure from the lender and pay that amount directly to the finance company, with the balance to the seller — or walk away.
- Is outstanding finance common?
- It is not unusual. Most of it is entirely innocent — the seller intends to settle from your payment. The risk is in the order things happen, not the seller's intentions.
- Does finance show on the V5C?
- No. The V5C names the registered keeper, which is not the legal owner. A car on finance has the keeper's name on the logbook exactly as any other car would.