Originally Posted by
Iain Mac
FFS I give up. You obviously know more than me and I surrender.
Because they wouldn't be innocent purchasers. If the lender suspects collusion the "seller" and the "buyer" can end up in court.
And, by the way, the finance co can't repo from their customer at any time either. There are rules that have to be followed or they will end up in more trouble than the defaulter.
You can do your own research on the rules for that because I've passed on enough of my knowledge.
You are giving up because you are totally wrong mate, there are terms on the contract signed when u buy finance for your car through hire purchase or fixes term lease, naturally they have to abide by rules before repo but the thing we are discussing here is the innocent party buying a financed car is caught because his contract is between him and the seller and the original contract is between finance house and the original owner
It's up to the second guy to sue the first guy as this is a civil case but the legal case for repossession is between the original guy and bank and the car remains an asset of that bank and even remains in their set of accounts for the revenue in their profit and loss etc