Question about car finance

mrssainted76

firstly apologies as i know this is in the wrong place but was unsure where to put it. looking for some advice for a friend

finance is taken out on a car in person 1's name only, car is registered in person 2's name. person 1 dies whilst money is still owing on car, what happens to the car and the finance agreement, is person 2 liable at all, does car need to be handed back to finance company?

RAS

Hi

is this a car loan or HP. It makes a difference.

whatatwit

RAS, how would I tell the difference between the 2?
The car finance in my case was through the dealer.

mrssainted76

i am pretty sure it is on HP

whatatwit

Bumping this for any more advice

RAS

if it is HP, the car belongs to the company until the final payment is made, not to the person driving it.

Depends on the terms and conditions as to when and whether it can be returned with no cost.

mrssainted76

RAS wrote: »

if it is HP, the car belongs to the company until the final payment is made, not to the person driving it.

Depends on the terms and conditions as to when and whether it can be returned with no cost.

thank you very much, will try to find out for definate if it is and have a look at there agreement for them