[Problemchild]

Hey all - my parents are considering a ZE22 battery rental they’ve seen locally and it’s coming up on the HPI check as outstanding finance.

im assuming that’s because the battery lease is a fixed term finance arrangement?

anyone got any thoughts?

it’s a 2016 so I’d assume it’s well outside of financing but....

JJ

 

[Sandy]

Yup battery lease.

 

[95199]

Yup battery lease.

Be careful. It may be the finance lease on the battery but it may also be the FL on the vehicle where all the payments have been completed but the FL agreement was never properly terminated. This happened to me when I did a check on a vehicle I was about to buy which said there was still a FL open. I told the dealer that he had have the FL terminated properly before I would buy the vehicle which he did and then the check said no FL. Easy to get caught.

 

[95199]

Hey all - my parents are considering a ZE22 battery rental they’ve seen locally and it’s coming up on the HPI check as outstanding finance.

im assuming that’s because the battery lease is a fixed term finance arrangement?

anyone got any thoughts?

it’s a 2016 so I’d assume it’s well outside of financing but....

JJ

Get a copy of the battery lease document and read it thoroughly before you sign. RCI stipulate a number of conditions that you must fulfill otherwise they can (technically) take the battery from you. Of all the discussions I've seen on here I haven't seen a issue where RCI have seen to be unfair in operating the lease agreement. For me leasing is a step too far but then again I would never buy a house that was leasehold despite the fact that thousands of people do it and have no problems whatsoever.

 

[Problemchild]

Thanks everyone

JJ

 

[Problemchild]

Actually it says HPI outstanding from 2018 and 2019

JJ

 

[Problemchild]

 

[Drewby80]

I purchased a 22 Zoe 3 weeks ago with a battery lease if you ring RCI they refuse to tell you if the agreement related to a battery lease (until you get arsey and say “how the hell am I supposed to buy a used Zoe without being able to find out this is just a battery lease! I’m not asking you to breach data protection I just need you to say this agreement number is a battery lease or no it isn’t”)

when I did this they confirmed it was just the battery lease:

I’m sure that finance is just the battery lease they don’t work weekends so you need to call them before 5pm if you plan to do the deal this weekend.

 

[Problemchild]

I purchased a 22 Zoe 3 weeks ago with a battery lease if you ring RCI they refuse to tell you if the agreement related to a battery lease (until you get arsey and say “how the hell am I supposed to buy a used Zoe without being able to find out this is just a battery lease! I’m not asking you to breach data protection I just need you to say this agreement number is a battery lease or no it isn’t”)

when I did this they confirmed it was just the battery lease:

View attachment 143804
I’m sure that finance is just the battery lease they don’t work weekends so you need to call them before 5pm if you plan to do the deal this weekend.

good tip - called them and was clear up front I was about to pay up

they took the reg and the agreement numbers and confirmed there was battery lease and vehicle finance outstanding.

they guy then said that was the case but said he would settle it before selling

moving forward with caution now

JJ

 

[Drewby80]

good tip - called them and was clear up front I was about to pay up

they took the reg and the agreement numbers and confirmed there was battery lease and vehicle finance outstanding.

they guy then said that was the case but said he would settle it before selling

moving forward with caution now

JJ

When I purchased my Zoe I took on the battery lease.

You have a greater level of indemnity if Renault still own the battery because if it turns out to be a lemon it’s their problem not yours as a leased battery is perpetually warrantied.

I plan to lease it for 12 months (plenty of time for gremins to emerge if their are any) and then pay the lease off myself.

Should cost me about £2.5k

The other thing to bear in mind is that rolled into your battery lease payment i am led to believe is breakdown cover which I believe also includes rescuing you if you every run out of electrons!

I’m still waiting for my battery lease documents to arrive.

 

[TJEV]

If the guy has any sense he would have got the finance company to send the “no interest in this vehicle” letter before selling. IME mainstream lenders will send one before you sell, even with finance outstanding, because they know they’ll get paid quicker if you sell it than if you keep it for the term.

 

[95199]

Get a copy of the battery lease document and read it thoroughly before you sign. RCI stipulate a number of conditions that you must fulfill otherwise they can (technically) take the battery from you. Of all the discussions I've seen on here I haven't seen a issue where RCI have seen to be unfair in operating the lease agreement. For me leasing is a step too far but then again I would never buy a house that was leasehold despite the fact that thousands of people do it and have no problems whatsoever.

 

[Problemchild]

Thanks for all your advice

small deposit placed pending confirmation of finance cleared.

genuine seller met at home address.

I owned my ZE40 battery leased for 2 years and it was fab and my dad said he’d never have an EV - lockdown has literally sent them insane clearly haha

JJ

 

[Drewby80]

Thanks for all your advice

small deposit placed pending confirmation of finance cleared.

genuine seller met at home address.

I owned my ZE40 battery leased for 2 years and it was fab and my dad said he’d never have an EV - lockdown has literally sent them insane clearly haha

JJ

I feel your pain!

My mum once said she’d never have a Ring doorbell or shop online before covid!

She now loves prime and I installed a peephole ring yesterday, she’s thrilled with it!

Parents eh! 😉

 

[dbsanfte]

The Zoe I bought last month from a Renault dealership had the exact same thing. I paid for the check on autotrader and it came up "outstanding finance".

It was just the battery lease.

 

[Problemchild]

The Zoe I bought last month from a Renault dealership had the exact same thing. I paid for the check on autotrader and it came up "outstanding finance".

It was just the battery lease.

Thank you

JJ

 

[AnnissarOmagnoli]

Hi there. I had a similar situation with my previous car. The battery lease was a fixed-term finance arrangement, and it did come up on the HPI check as outstanding finance. However, I got a letter from the finance company stating that the debt had been settled and there was no outstanding balance. I would recommend doing the same and seeing if that clears things up. If you're interested in a good financial advisory company, I suggest you reach out here at Financial Planning for Physicians | The Finity Group. I hope you're doing great. Cheers!