Quick question about car

In_a_Mess_3

We have a 7 year old Freelander which will not be passing it's mot this month, as we can't afford to fix it.

We don't think it is worth a great deal and it is possible that the OR may exempt it.

But, my question is that as we owe money on it to Black Horse which will be included in the BR, can they still take it back even if the OR exempts it?

debtinfo

It depends whether it is a Hire purchase agreement or a fied sum loan agreement, check the contract carefully

sieve

If it's fixed term loan, probably not, if it's HP, then yes they can take it back and probably will if you stop paying them.

If it's not subject to HP however, it's unlikely that the OR will exempt it if it has no MOT as they will argue that you don't need it (as they will rightly assume you are not driving it if it has no MOT).

In_a_Mess_3

Thanks both!

It is HP, and I fully expect Black Horse to come and get it as when I called them at the beginning of the year to say I would be a bit late paying then the chap immediately said we'll come and get it then.

It has cost us so much that to be honest I will be happy if they do now, I love the car but it hasn't helped us with our money issues.