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  • FIRST POST
    JimMac70
    Santander Consumer Finance - Car Personal Loan
    • #1
    • 19th Sep 10, 5:12 PM
    Santander Consumer Finance - Car Personal Loan 19th Sep 10 at 5:12 PM
    Just under a year ago I purchased a vehicle from a local Ford Dealer and they sourced the finance via Santander Consumer Finance but this was not a standard Hire Purchase styled finance but a Personal Loan. Now this wasn't a concern to me as the rate was very competitive and as it was a personal loan this meant that this finance wasn't attached to the vehicle like standard HP agreements are.

    In the last week I contacted a dealer about possibly looking at another car and I was asked the question if my current vehicle had any outstanding finance. As the rate on this loan was good and I was going to use some additional saved funds to pay the difference I thought I would just keep the same loan so I said that it hadn't any outstanding finance because I knew that the finance was a personal loan. To my embarrassment the dealer came back saying that the HPI check listed the car being financed by Santander and that would have to be settled first. I explained that this is very odd because I had confirmed already with Santander that the loan wasn't attached to the vehicle. He did say that it is listed as a Personal Loan but as it was on the HPI register it would have to be settled before they would look at the vehicle.

    I contacted Santander back and they said that yes it is registered on HPI but as a personal loan. They said that they are a car finance company so they add the details of the finance to the HP register as a matter of course and it entirely depends on how it was set up. They then said it would be up to a dealer to take a decision/chance on this but if contacted by a dealer they would be happy to say that they have no interest in the vehicle.

    So my questions are:

    How can a finance company register information on the HPI database against a vehicle that they have no interest in?

    Can I force them to remove such an entry?

    Is this in anyway against consumer finance law or a breach of the Personal Loan agreement I have with them, (of which I am now reading in depth further)?

    Many thanks in advance for any help.
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