hpi cleared yet finance company want car

[maifl0wer]

Hi
I need some advice
my husband brought a car through a friend of a friend for cash but prior to doing this he had his friend a machanic look over the car we also did an check on car at www.mycarcheck.com (http://www.mycarcheck.com/) (the day before buying happened)
which i have a Gold Check on car which came back clear so hubby proceeded to buy car for cash. then we get the log book in post all in hubbs name address etc then 3 weeks approx he receives a letter from a finance company called british credit trust claiming they own the title of the car and they want it back, hubby explaine he purchased the car in good faith had checked the car out and nothing to his mind was weird car check was all green so he is innocent buyer
what i need to know is what do we do from here they want hm to fill out a questionaire that asks a lot of personal innformation which to be fair why do they need his as we didt take out the finance with them.
we are that honest hubby had said we still owe 800 on car they want that money too know
im confused and worried hence being up so late, am off to the police in the morning as im worried they may take the car... please any advice gratefully received

also had an experian hpi check done today (they day i received letter from british credit trust)
which also came back as no finance owing

what i dont understand is -
we purchased in good faith
we did check with mycarcheck and all fine so what else do you do before purchasing ???? we honestly brought car had to spend £600 on her to get her road worthy now we face loosing car to something we know nothing about,
the finance company said the name of the person who owes them a a d angelo yet hubby brought car from a c w******

have contacted previous owner, he paid cash for car too over a year ago he says he knows nothing either and wants numer to call finance company

[Herr Schmitt]

If they have not recorded their interest in the car I am pretty sure they do not have a leg to stand on.

Ask them to prove their interest.

[harveybobbles]

Ask them what dates they logged the interest. Also ask them to clarify that they have the correct reg number cos they could could have a digit wrong or in the wrong place. Phototcopy your car check and send it to them.

[wazza]

Just done a google and found this website

http://www.carcreditcomplaints.co.uk/index.php?showforum=116

maybe worthwhile posting your problem here as well

[wazza]

Similar thing happened to sister few years ago. She bought a car from a garage. Months later she received a letter from a finance company stating there is finance outstanding. She approached her solicitor. He send a letter to the gagarge. The garage then changed the name and sister could do nothing because the garage ceased to trade in the name on the receipt.

Agreement was made that she will keep the car while the finance company investigates. The amount owing was £1000. They never got back to her.

My advice is to contact a solicitor. Do not pay out any outstanding finance. Do not give personal details which they can use for baliff use etc. All they can demand is the car back. Ask for proof etc that it is the right car. From the website i listed above it seems the right hand does not know what the left hand is doing.

I know hpicheck has this protection where they will refund the money if their record is incorrect. Don't know if your hpi company has this cover and if it applies to private sales

Good luck.

[sheslookinhot]

Unfortunately, purchasing a car "in good faith" means nothing.

[Hintza]

You need to do some reserach on this. I don't know the answer but I did hear/read somewhere fairly recently that it depends on which kind of agreement was on that decides whether the Finance Company can reposses.

I think if the car was registered in the sellers name then the company has no right to demand money or the car. If the car was registered in the Finance Companies then they do. BUT please note this is just a bit of guess at this time so dome some more research.

Did he get the V5c? And in who's name?

Here is one site I have found:-

http://www.northlincs.gov.uk/NorthLincs/News/PressReleases/PreviousPressReleases/October2008/Councilwarnsprivatecarbuyerstobeware.htm

[Hintza]

Here you go this is the bit I was looking for:-


The Consumer Credit Act 1974 gives ‘good title’ to the innocent private purchaser of a car which later turns out to be subject to a claim by a finance company because of a previous, unpaid hire-purchase agreement. This means that the finance company is not entitled to repossess the car from you. Remember, this does not apply to cars which have been stolen, or cars that were subject to a lease or hire agreement.

[vaio]

Here you go this is the bit I was looking for:-


The Consumer Credit Act 1974 gives ‘good title’ to the innocent private purchaser of a car which later turns out to be subject to a claim by a finance company because of a previous, unpaid hire-purchase agreement. This means that the finance company is not entitled to repossess the car from you. Remember, this does not apply to cars which have been stolen, or cars that were subject to a lease or hire agreement.

and only applies if you buy off a trader

[Ms-Pacman]

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deleted post

[chnelomi]

i sometimes wonder if these companies work on this planet. my friend is currently in a bit of a battle with her insurance over her car that was wrecked in an accident (not her fault). She got a letter from her insurance company saying payment in full etc for loss of car, so of she went looking for a new car.

After a couple of weeks she called the insurance to find out what happened to the cheque that was in the post to be told it had been sent to her HP company for settlement of her account????? now my friend would not have minded if she had been in an agreement with a HP company but she had paid in full by cash four years earlier for the car. so she is now having fun being passed piller to post by the insurance and the HP company who refuse to talk to her because the agreement is not in her name.

And as for her insurance time wasters keep telling her not to worry they will transfer the money as this was not her fault an error with the registration apparently. Still nothing. going to tell her to ask for interest too lol well if you dont ask you dont get.:rotfl:

[dld2s]

that site has closed down!!!!!!
:eek: :eek: :eek: :eek: :eek: :eek:


I was on it this morning (5/4/09) seems okay to me

[Ms-Pacman]

is back on now, site was down for a day I think but all ok now

[suzie1177]

i baught a car on finance i have abother 2years until it is ment yo be paid off but its coming back as hpi cleared does this mean i can stop the payments and the car is mine???

[sarahg1969]

i baught a car on finance i have abother 2years until it is ment yo be paid off but its coming back as hpi cleared does this mean i can stop the payments and the car is mine???

Why would you do that? The fact that a marker has not been put on the vehicle record does not invalidate any agreement between you and HP company. They would have an agreement to back up the fact that you owe them money.

[KeithP]

i baught a car on finance i have abother 2years until it is ment yo be paid off but its coming back as hpi cleared does this mean i can stop the payments and the car is mine???
So you still owe money and want to stop making payments?

Yes of course you can.
But be prepared for the finance company to ask you what you think you are doing. :rolleyes:

[Chippy Minton]

i baught a car on finance i have abother 2years until it is ment yo be paid off but its coming back as hpi cleared does this mean i can stop the payments and the car is mine???

Why have ypu asked this on a thread thats was started 5 months ago?
And whats up with your speel checker?

[harveybobbles]

i baught a car on finance i have abother 2years until it is ment yo be paid off but its coming back as hpi cleared does this mean i can stop the payments and the car is mine???

You may find that the finance isn't on the car. It was a loan for a car, which is different. It's for the likes of you who want something and dont want to pay for it.

Some of the finance companies I use will sell the customer a motorloan rather than financing the car. specially if they have a dicky past or have gone down the VT route etc...