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Outstanding Finance - how long do we have?
Roktraktor
Posts: 3 Newbie
in Motoring
Hi there all
Just wondering how long outstanding finance takes to sort out?
My parents brought a car last year from a motor trader (who is now subsequently out of business) and last week they got a letter from Lloyds informing them the car still had finance owing, from the person who had it before the motor trader, and through a motibility scheme.
The letter has been replied to, with copies of the invoice from the trader, and lots of info about him so they can catch up with him. In the event that they want to reclaim the car, which I would assume is quite high, does anyone have an idea of how long til they turn up on the driveway? Or is it a case of how long is a piece of string?
Also any tips on what our rights are? I gather that if you have put new stuff on the car, such as tyres, you are entitled to keep them and its up to the finance co to work out how to move it?
I’m sure lots of people would say get a HPI but they’ve always done deals in car parks and this is the first time they have brought from a trader.
Thanks in advance for the help.
Rotraktor.
Just wondering how long outstanding finance takes to sort out?
My parents brought a car last year from a motor trader (who is now subsequently out of business) and last week they got a letter from Lloyds informing them the car still had finance owing, from the person who had it before the motor trader, and through a motibility scheme.
The letter has been replied to, with copies of the invoice from the trader, and lots of info about him so they can catch up with him. In the event that they want to reclaim the car, which I would assume is quite high, does anyone have an idea of how long til they turn up on the driveway? Or is it a case of how long is a piece of string?
Also any tips on what our rights are? I gather that if you have put new stuff on the car, such as tyres, you are entitled to keep them and its up to the finance co to work out how to move it?
I’m sure lots of people would say get a HPI but they’ve always done deals in car parks and this is the first time they have brought from a trader.
Thanks in advance for the help.
Rotraktor.
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