4 months ago i swapped my saph cossie rep for a focus estate for boring family use

but this morning i receive a letter from a finance company stating there is hp outstanding on it

i dont know who the guy i got it off is as his name wasnt on the log book. it was the owner before him who owes the money.
and i got a cheeky hpi done at my local ford garage and it has a red mark against it so he will get a phone call soon about his hpi

what do i do?
and where do i stand legally as i dont wanna/cant afford to lose £1500 worth of car!

 

Sorry to sound twatish, but an HPI in the firsrt place would of told you all the above..

What you do i don't know, legal advice i guess.........

 

lose it then sell the bits

 

Technically its the buyer who is responsible for checking outstanding finance. So you're screwed mate

The car I have just bought came back on HPI as having outstanding finance, but before I bought, I rung the finance company who stated it was an error and that it should of been removed. I waited for written confirmation from them of this and then did another HPI and it came back clear

unfortunately, since legally the finance company still own your car, they may well pursue for the recovery of the vehicle - shit I know

 

sounds like a predicament

not sure how you stand as the car belongs to the finance company

 

i never hpi'd it due to it being a cheaper car whenever ive bought 3 or 4k cars ive done it

i allways will from now on though

 

HPi as said, but that's too late now.

You were totally unaware of any outstanding finance, and you surely asked the previous keeper who said it was his to sell and free & clear of any finance?

If they still want it back, then you should ask them to pay storage & maintenance fees associated with you 'looking after' their vehicle.

 

it depends o how uch is owed, it depends on what ercentage has been paid

but i know of ppl who have been allowed to keep the car as they bought it in good faith, one was a rs1800 about 6 years ago they let him keep it but he could never resell it or somin like that

 

the guy who you bought it off might have had a part in not declaring the outstanding finance

but there is nothing you can do now other than tell the financ company that he did a check and it came back clear
thus putting the onus on him

 

the cars going to get taken off you im affraid its there car until its payed for meaning someone defaults payment they take the car to try and recoop(is that a word) the funds or atleast some of it

 

Down to you sadly mate. You could try selling it yourself and hope to catch someone else who doesnt hpi....

 

advice on hpi: txt the reg number to 83600 and u get 3 or 4 txts back telling u if its clear,any colour changes accidents etc etc.costs 3 quid off ur fone credit.but better than 40 quid normal hpi check

 

Yeah thats a right nice thing to do isnt it you arsehole! Sell it to someone else and let them lose the money!

What a wank comment!¬

 

i wouldnt do that and i cant legally do it either as i know about it

so no worries there im just gunna loose my car

and im only a badly paid postie on 250 a week not 1k like some on here so it hits me harder.as such im selling all my rst parts just so i can afford to replace this car

 

I didnt say it was right its just another way out.

 

I understood Trade had an issue with outstanding finance on a car, but private buyers didn't.

but i'm probably wrong.

 

I have sold a car with fianace owed, the buyer was aware he paid the difference to the finace company and it was all sorted, they confirmed to him it was done, but l would never buy a car with out a HPI it just aint worth it, you surely must factor this cost in when buying a car

Mike