Advice about car finance

rainman31

I'm just after a piece of advice. My father-in-law died recently with 6 months left on his car finance.

Is any of his remaining family liable for the remaining 6 months of payments or shall we ring the finance company and let them know he has died.

There is only his name on the CCA

Thanks in advance

CHR15

It will come from his estate.

Of course you should let them know he has passed away and push the debt onto the solicitor dealing with the will etc.

~Brock~

If the loan is secured on the car (HP / Conditional Sale) then the finance company are still the legal owners of it, and would be entitled to the return of it if the finance isn't going to be settled.

If you/your family intend to keep the car then it might be worth making an arrangement over the balance sooner rather than later.

If the loan is not secured on the car then the above does not apply, and the debt can be passed to the solicitor dealing with his estate, as CHR15 has advised.

Whatever you do, let them know the situation - at least that should stop any potentially upsetting letters/telephone calls to your father-in-laws house.

rainman31

Thanks, I'll give em a ring see what they say.