I'm looking at a car tomorrow that's on Autotrader. Current owner bought from dealer using a PCP but I'm not sure what needs to happen or what I need to do before buying? Reading what hpi says, it seems to boil down to "trust" between two people who have never met that has to continue past the "transaction" to ensure that the finance company gets paid and the seller gets paid, without the buyer buying twice.

Any tips?

With that level of uncertainty, I'd want at least a legally-binding document from the seller guaranteeing the limit of your financial liability and that your new pride and joy isn't going to be trailered away in the dead of night.
Unless it's a very special deal, I'd be inclined to walk away and find another.

Agreed.

Could you ask to see a letter from the financial company confining what is owed and then agree to pay that part directly to them?

I've not done it before so I'm not sure if that's viable.

Dave, I have experience of this.....

The current owner needs to get a settlement figure from the finance company and either he or you will need to settle the finance on the car. You can't take over the agreement as it'll be in his name.

The finance company won't care who settles the finance as long as the settlement figure is paid.

Your post is a little vague as to how long the PCP has to run and whether the current owner is settling it or you are.

When I bought my RCZ I used my Swift, which still had a year left on it's PCP, as the PX.

All I'd say is don't buy it until you have a copy of the finance agreement as well as the settlement figure.

Car is not his to sell.

One compromise is to get the finance company on the phone and for the seller to pay off the settlement amount by Debit Card and for the buyer to do a direct bank transfer straight afterwards, or for the buyer to pay the settlement, with any difference between the "purchase" price and settlement amount to be negotiated. Might be tricky on a bank holiday though

I think the PCP regular payments are finished but the PCP not settled. With 85k on the clock, I assume the seller thinks the car is worth more than the settlement figure, and is hoping to effectively pay off the PCP and keep the difference.

It would be a lot easier if the seller had just paid off the PCP first

If the PCP payments are finished he had 3 choices. Hand the car back to the dealer and walk away. Pay the balloon payment and keep the car. Or use the 'equity' in the car to finance a new car.

All sounds very dodgy to me. He either owns the car (has paid the balloon payment) or he doesn't and is still making payments.

Dave, the PCP agreement can't be running if he's not making payments.

I'd walk and look elsewhere.

Barge and pole? Safest bet I think.

This, absolutely bloody absolutely. Not his to sell as stated. Seriously,do not get stung, you could not only loose money, the car as well. Trust me, I know of a couple of people who were let down....

I thought I was naturally suspicious, but you guys are even more suspicious that I am! Or maybe you're just looking out for me

It's half way through a 4 year PCP and the guy wants to get out early, he's doing far too many miles and would have to pay a big penalty in 2 years time. Settlement amount back in Feb was £15.8k, car is advertised for £15k versus Autotrader private sale valuation a little over £14k. He does a lot of miles and has a company car now, just wants rid of the one he's selling. V5 is in his name and he thinks the car is his to sell but I told him it isn't. He can get an updated settlement figure over the phone (automated system) but probably can't do a payment on a bank holiday, it would have to be after Easter. He agreed that we need to do a simultaneous payment (when I pay him, he pays off the PCP plus the balance to cover the difference, or I pay off the PCP and he pays the balance). Either way I am not "buying" tomorrow, but may offer a deposit and "buy" after Easter. What the hell, you only live once.

Dave on ph yesterday someone was asking how he could sell a car thats on pcp. It was on general gassing.

When I bought the Audi the Audi dealer who part exchanged the car had not paid off the finance.

When I did a HPI report it came back as on finance so I called Audi finance. They said that the car was indeed still their car - NOT MINE! I then called the dealer who sold me the car who assured me everything would be sorted.

After my call Audi finance called the previous owner, who was rather upset that the Audi dealer hadn't paid down his PCP.

It all worked out in the end but there were a few hours of concern where I didn't actually own the car I had just bought. So my advice would be to steer well clear of the deal until the finance company registers the car finance clear.

As I understand it if the car is being sold by a proper dealer it is his responsibility to pay off the finance and check that it has no hidden faults ( ie HPI it)so the title would pass to you whatever

OK well despite a lot of advice saying not to, I've gone and bought the car anyway

We arranged in advance to pay off the finance together, the seller did the V5 transfer of ownership online. I had to wait for the payment to "fail" first before responding "Y" to the automated fraud check text from the bank, but it all went quite well in the end

V5 isn't the owner, just the registered keeper....

If finance is paid off then you're all square! Happy motoring!

What engine / spec is it?

Should have listened to Emjay. You have not bought the car, you have gifted a large sum of money to a man who did not own the car and cannot sell the car to you. The V5 is worthless in terms of ownership rights.

I did listen to Emjay but I don't think you read everything I wrote above, I did not pay the "seller", I paid the finance company direct to end the PCP early. The finance will show up as clear within 48 hours.

What spec dave? Love the xf shooting brake!

It's "only" a Luxury 2.2D (163bhp, 400Nm) in Cashmere Gold with 18" Vela alloy wheels and Winter Comfort Pack (heated front screen and seats) and poverty spec audio system. Out of all the wheel options, Vela is my favourite anyway.

I had been looking at XFs for a long long time, initially only the 3.0D V6 in Premium Luxury or Portfolio, preferably 2010-2011, with only certain trim colours and wheels that I liked, and I wanted to be able to play/control an iPod, and preferably have Xenon lights and rear view camera, all options which increase the price. The missus has an old Volvo V40 on almost 220,000 miles and with knackered top mounts which will be replaced, it's living on borrowed time. I had looked at a couple of X-type estate Sovereigns for her, but 2.2D Sportbrakes have started to show up, and this one was a good way to combine 2 cars into one, and all the "options" I was looking for are standard.

Except we still need 2 cars and the XF was supposed to be "mine" and the "estate" hers.

As much as I'd like a high powered XF, I still have my high powered Coupe, and with 18" wheels the ride will be softer, the tyres a lot cheaper, and the 2.2D engine means low tax and good economy. It's such a relaxed drive, I thought I'd only use the semi-auto paddle shift, having driven some fairly awful autos 20 years ago, but the 8 speed auto box is brilliant.

And given that I always go for non-mainstream or cars that are a little unusual, the Sportbrake is still rare enough and a bit like it used to be when the Coupe was new: you'd see a few, sometimes several in one journey, but sometimes go weeks without seeing one.

The only things I wish our Sportbrake had was the seat memory, and perhaps a proper spare wheel. Some people do put a space saver in the spare wheel well, but it's currently partly occupied by the "tyre repair system" and the rear air suspension, so maybe not so straightforward. Also, some people stick on a twin exhaust rear valance and dummy second tail pipe, but that seems a bit daft, I might as well just stick an "S" badge on the rear.

I'm loving it so far, but may need to get an X-type estate Sovereign or SE for the missus otherwise she's going to want to keep driving it too.

Sounds great, that engine has had great reviews and having 20 inch wheels is a bum clencher with every kerb and pot hole! Jaguar do a great job with the ride so bigger wheels don't feel too bad at all.
Do you have the rear strut brace (I'll guess not) which I think is the worst thing about mine as there is a raised area across the centre of the boot floor and makes packing suitcases frustrating.

That is how I purchased my Coupe many moons ago
Hope you enjoy the new wheels Dave

No I don't, it's a completely flat load area and the way that there's no "lip" to have to lift things over is great too.

Thanks Mark, I was wondering if any of us old timers had bought their Coupes by buying out a previous PCP...(not me, I bought at auction where you are "guaranteed" ownership when you buy)

Have fun in it, I love mine to bits. Even just sat in traffic (except the mpg, that makes me wince) it's a truly pleasurable place to be.

How do you find the infotainment screen? The motoring press sanction it as the xf's main weakness vs the market place.

MPG was showing up as 39.4 but that was from the previous "owner" who had been clocking up monster miles. I just filled it up for the first time today (and was cursing the mis-fuelling nozzle widget) so will get a better idea in the next few weeks.

The infotainment screen is a revelation to us, the youngest car in the family fleet previously was 2003 with no such system. I have an iPod playing head unit in the Coupe which displays album art (except the iPod database is all screwed up and displays the wrong art, oh and I forgot, the head unit is not working) and so I miss that in the Jag. The Sat Nav seems clunky compared to GoogleMaps/Sygic/Waze (I'm not a great fan of TomTom) but does the job. We've not got Voice Control either, but there are enough new features to keep us smiling. So when you compare it to nothing, it's great!

Edit: However, I would like to see instantaneous MPG and not just average MPG

I'd like instantaneous too, just to see if full throttle is 1 or 2 mpg....
You'll grow to love it, mine just eats the miles....

There are two "trip computers" A & B that you can reset individually but also the "auto" one that resets every time the ignition is switched on, so for a short journey it's the closest to instantaneous you'll get.

Yeah I use the journey one, and pull it up for the first mile on the screen as it's amazing how low it can be when the cars cold...
Does yours have the e-diff?