Car on HP in BR

script

I think I know the answer to this – but just wanted to check.

Say your car is on HP or finance and there is no “equity” in it.

And assuming the car is not a high performance sports car – in other words the finance payments are “reasonable.”

And the car is deemed to be necessary because of your occupation.

Will the OR let you keep it?

philnicandamy

It has happened in the past with the odd one or two past members.....although remember the "mantra"

"No two OR's are the same"

debtinfo

The OR has no say over whether you keep the car if it is in negative equity but can say wether the monthly payment is included in the IPA calc

script

Very good point Phil.

One OR may say yes.

And another may say no.

(I suppose you can always diplomatically try and persuade the OR that said no to change their mind).

blind-as-a-bat_2

Also check the HP agreemant for a bankruptcy clause, the OR may not be the only obstical to you keeping the car

miss_spooky

Hi,

I had my int today and this came up. He said that he had no interest in the car as it was on HP & that if the HP Co allowed me to keep it then that was up to them. He did ask if I had spoken to the HP Co at all. I had done a while ago.

Whilst he was speaking he was saying that the car payments would be taken out of my SOA if car wasn't required and this is what I believe he was thinking until we got to my income.

As I am a Carer for my son & claim Carer's Allowance this meant that my vocation as a Carer exempts the car. However I'm not sure what would have happened if the car was owned outright & worth more that the 1800.00. He also asked me where I got the valuation from as it was spot on. I used Parkers Guide.

script

Thanks Miss Spooky,

I'm delighted that your interview went well.

And of course that you kept the car.