|
Outstanding Finance on bought car!!
Messages 1
to 20
of
39.
< Previous
1
2
Next >
 |
Outstanding Finance on bought car!!
11 January 2008, 1:59 PM
 Edited by valley 11 January 2008, 2:00 PM
|
valley
Joined 7 Oct 2006
21 posts
|
Any one know where i stand with a car i bought last year only to have the car written off after a crash and then to find out it had outstanding finance from one of the previous owners.....my insurers say i wont get any payout because the car dont belong to me but to the finance company. Is this true or is there a way out somehow? Thanks for listening!! Oh and if any of you are planning to buy a car...please get a HPI check done before you make a boo boo like me!!
|
Outstanding Finance on bought car!!
11 January 2008, 5:47 PM
|
uglybowman
Joined 12 Mar 2006
302 posts
|
cant see an easy way out other than going to see person u bought car from but to be honest its unlikely there going to be helpful best contact solicitor you wont have what legal term use , AS TITLE TO THE CAR , BUT THERE AGAIN NEITHER DID THE PERSON FROM WHO YOU BOUGHT IT FROM ...a record is kept i believe every time a car is hpi,d you could ask insurance to check that you never done this ,,,,, small hope but worth a go
|
Outstanding Finance on bought car!!
11 January 2008, 11:31 PM
Edited by L.B. 11 January 2008, 11:33 PM
|
L.B.
Joined 5 Dec 2005
2848 posts
|
|
I think your biggest enemy here valley is passed time, a year is a long time to try and claim back on.
If it was a private sale I personally think you are on your own but if it was a garage then get back to them straight away.
Bowman is spot on here get in touch with a solicitor as this could escalate into a bigger problem for you apart from actual value of car
___________________
THERE'S NO REPLACEMENT FOR DISPLACEMENT !
|
Outstanding Finance on bought car!!
12 January 2008, 0:05 AM
|
Al's Pug
Joined 7 Feb 2005
1233 posts
|
|
hi
who advised you of the OS finance, the insurance company ?
if so how come they accepted you when you gave them the vehicle details when you insured it ?
I nearly bought a wright off, and when I asked for an insurance quote they refused cover until they had a copy of the engineers report on the repairs. (I didn't buy it!)
Is it not the same for finance ? especially as lots of the insurers are also them selves the financiers (Halifax, Norwich Union, Direct Line etc.......)
Citizens advice may be able to offer free help ?
Hope it works out for you
Al
___________________
if it aint broke don't fix it !
|
Outstanding Finance on bought car!!
12 January 2008, 4:51 PM
|
valley
Joined 7 Oct 2006
21 posts
|
Thanks for reply AL. The insurers told us that after they had said they were going to pay out, one call in the morn to say they were paying out then another call in the afternoon to say they had found out about the outstanding finance. We told them to investigate this as we know that myself and 2 prevoius owners didnt have the OS finance and that the car was bought from an auction by one of the previous owners. MMmmm the mind boggles!! we did our own HPI check which everyone is suppose to do prior to buying a car and there was OS finance. We're holding our fingers crossed it's sorted in our innocent favour. Thanks AL
|
Outstanding Finance on bought car!!
12 January 2008, 4:59 PM
|
uglybowman
Joined 12 Mar 2006
302 posts
|
long shot here but car hasnt cherished plate or had one on at some time ? once bought bike when hpi,d came back as saab turbo with 6 yrs finance on it
strange but true
|
Outstanding Finance on bought car!!
12 January 2008, 5:01 PM
|
valley
Joined 7 Oct 2006
21 posts
|
Thanks for reply L.B..... We now know that 2 previous keepers didnt know about the OS finance either and that one of them had bought the car from a auction in 2003. Are auction's leagally bound to check for HPI before selling vehicals on thier premises??!! Thanks L.B again
|
Outstanding Finance on bought car!!
12 January 2008, 11:56 PM
Edited by L.B. 13 January 2008, 0:02 AM
|
L.B.
Joined 5 Dec 2005
2848 posts
|
|
I dont think it's mandatory for auctions to have to do an hpi I think it's only voluntary, however some do as a matter of course and just add it to there fees.
If anyone else knows differently on this matter it would be good to know as I was told that the above was the case.
There's one thing I do remember though and that is a salesman doesnt have to tell you anything specifically wrong with the car by law, UNLESS YOU ASKED HIM then if he lies to you thats a different matter, but the golden rule is that you have to ask him at the time.
However it's pretty obvious this is the sort of thing that would heavily influence your descision and to not disclose this is very dodgy indeed.
___________________
THERE'S NO REPLACEMENT FOR DISPLACEMENT !
|
Outstanding Finance on bought car!!
13 January 2008, 10:47 AM
|
Al's Pug
Joined 7 Feb 2005
1233 posts
|
|
hi
Could you advise us and market value of vehicle ?
It may be possable for you to take the owner with the finace issue to the small claims court, he will probably then settle the o/s finance rather quick, as they won't want to go to court.
Again citizens advice will be able to help on this.
Al
___________________
if it aint broke don't fix it !
|
Outstanding Finance on bought car!!
13 January 2008, 1:15 PM
|
valley
Joined 7 Oct 2006
21 posts
|
Thanks again for reply L.B.... We are hoping...as someone has told us, that, even though the OS finance shows up on the HPI list.....it may be, that, it was paid up but has not been removed from the register. A bit like CCJ's remaining on your credit file unless you have them removed! It's a small chance but it's given us hope. I thought i'd learned all my mistakes when i was younger......well apparently not! Thanks L.B Hopefully if any others read this they wont make the same mistake. I'll finish with this new little note..... "IF YOUR GONNA BUY GET A HPI"
|
Outstanding Finance on bought car!!
13 January 2008, 1:26 PM
|
valley
Joined 7 Oct 2006
21 posts
|
Thanks for reply AL.... The insurers offered £1.400...... To go to small claims is a good idea once we had found out the finance owner....but is it worth the headache? i'm not so sure....but then again......we are driving a hire car from insurers, if it turns out we dont own the car....we will probably have to pay back the hire cost aswell..... well we will wait to see what the insurers dig up and then take it from there. Thanks again AL... And my little Motto is...... "IF YOUR GONNA BUY GET A HPI"
|
Outstanding Finance on bought car!!
13 January 2008, 6:09 PM
|
Al's Pug
Joined 7 Feb 2005
1233 posts
|
|
hi
thanks for getting back to us.
You can trace the debtor from the vehicle log book / DVLA Swansea
from this you can obtain details name and address of all previous owners. (DVLA may make a small charge?).
The insurance company may also be able to trace this from the associated records that they all keep and share to prevent fraud.
The finance company may also have recorded the driving licence number from when they had ID for the original load. From this number the DVLA/Police may trace the current address.
If you know that the 2 previous owners you have traced arn't the culprits then it must one* previous to that (one of ? ,you didnt say how many prev owners the vehicle has had).
All the best
Al
___________________
if it aint broke don't fix it !
|
Outstanding Finance on bought car!!
13 January 2008, 11:32 PM
|
houston
Joined 3 Nov 2007
29 posts
|
Valley, i'm fairly certain that i have a newspaper cutting of an article from the Daily Mirror, where the motoring correspondent discusses outstanding finance. I'm sure that the advice given was that if someone did not truly know there was outstanding finance, the finance company could not repossess the car. If this is the case, surely an insurer would have to pay a claim!
|
Outstanding Finance on bought car!!
14 January 2008, 2:14 PM
|
valley
Joined 7 Oct 2006
21 posts
|
Thanks houston...... would be a bonus if it were true. How long ago was this article in the paper? I could get a copy from the Daily Mirror via email. We have had no contact for a few days now from our insurers...... so is no news good news? Watch this space! I will post again when we have a conclusion to this one way or another, so it will help anyone whom has fell into this situation. Thanks again
|
Outstanding Finance on bought car!!
14 January 2008, 7:18 PM
|
houston
Joined 3 Nov 2007
29 posts
|
Valley, i've just found the article, i kept it exactly in case something like this happened to me. If you want to send me your e-mail address to [Log in to view email] i'll send you a scanned copy.
Cheers, John
|
Outstanding Finance on bought car!!
15 January 2008, 5:11 PM
|
valley
Joined 7 Oct 2006
21 posts
|
Hi John...that's brill .... [Log in to view email] Thanks for that. Valley
|
Outstanding Finance on bought car!!
16 January 2008, 5:12 PM
|
valley
Joined 7 Oct 2006
21 posts
|
Thanks for newspaper strip...... Amazingly the Insurers are happy with the fact we knew nothing about the O/S finance when we purchased the car and today a cheque was sent in the post...Phewww!! What a relief but what a lesson learned. Thanks for all your help we really do appreciate your time. Thanks again
Also big thanks to L.B, uglybowman, Al's pug and yourself John
|
Outstanding Finance on bought car!!
16 January 2008, 5:22 PM
|
uglybowman
Joined 12 Mar 2006
302 posts
|
no problem plzd you got sorted
|
Outstanding Finance on bought car!!
16 January 2008, 6:24 PM
|
houston
Joined 3 Nov 2007
29 posts
|
Pleased to hear your good news mate.
|
Outstanding Finance on bought car!!
16 January 2008, 10:46 PM
|
Al's Pug
Joined 7 Feb 2005
1233 posts
|
|
hi
glad to hear your good news.
Hope all reading this see the importance of HPI checks
Al
___________________
if it aint broke don't fix it !
Messages 1
to 20
of
39.
< Previous
1
2
Next >
Important Note
All messages are submitted by visitors to this web site, and represent their own personal opinion. They do not necessarily represent the views or opinions of Preloved.
You use this information at your own risk. Preloved can not be held responsible for any damages or loss resulting from the use of this site. Please see our Terms and Conditions for more details.
|
More discussion in