Outstanding Finance
Additional Information
Finance Agreements
If a loan or hire purchase agreement is still outstanding and you buy the bike, the finance company will retain a legal interest in it until the loan is repaid in full and they may repossess it. The details of the agreement and the finance company are shown in the MCN Bikecheck report. Only consider buying such a vehicle once you have written proof from the finance company that the debt has been fully repaid.
You may believe that as an innocent purchaser you would retain good title on a vehicle in this situation. However, you would have to prove your status as an innocent purchaser to the finance company which, in practice, is an extremely difficult and lengthy process.
Useful MCN Bikecheck Information
To find out more about MCN Bikecheck, click on the links below:
- High Risk
- Stolen Vehicle Database
- VIN
- Previous Keepers
- Mileage
- The Seller
- The Dealer
- Private Sales
- How To Avoid Fraud
- Written Off Vehicles
- Import
- Used Before First Registration
- Export
- DVLA Data
- How To Contact Our Service Support Team
You may also find it useful to read the information below:
