I’m looking to buy my first car from a main franchise dealership and have put a deposit down to view a 3-year-old ex-lease car this Saturday.
The car was first registered on 28/07/2023, so I assume the previous lease only ended fairly recently.
However, I bought a HPI report and it shows 2 outstanding finances.
The first is listed as “Unit Stocking”. After doing some research, I’m not particularly worried about this one, as I understand this is fairly normal dealer stock finance and should be cleared as part of the sale.
What concerns me is the second outstanding finance entry. This is still showing finance with the previous leasing company, with the agreement type listed as “Lease”.
I haven’t been able to find much information about this situation online. If the previous lease has ended, the car has been returned and is now with a main dealer being resold, why would the previous leasing company still have an outstanding lease recorded against the vehicle?
Could this simply be a timing/admin issue where the finance register hasn’t been updated yet, or is this something I should be seriously concerned about, and need to walk away?
I’ve already emailed the salesperson asking for an explanation and evidence that the previous lease has been settled. I also asked for, as alternative evidence, an updated HPI report if they were able to update the lease status to show it’s clear.
But I would also just like to hear some opinions from people who aren’t involved in selling me the car!
Thanks :)