big problem with motorcycle loan

Xbigman

Did you give the new owner of the bike a receipt?

From the new owners perspective, if they have a receipt, or anything from DVLA, that predates your new agreement then they can fight repossession on the grounds that they owned the bike when you signed, so you had no right to sign for a bike you don't own. It is only fair that you get in touch and let them know there might be a problem.

From your perspective, this is a mess. You need to do everything now in writing and send it recorded delivery.
Write to the dealer stating clearly that you hold them responsible for changing the contract type, which you signed in good faith believing that you were merely bringing the paperwork up to date.
Write to Black horse enclosing a copy of your letter to the dealer. State that you accept no liability for what has happened and that the bike was sold before the date on the new agreement (which everyone was informed of) and can't be repossessed on those grounds. Also state that you consider the new agreement to be void on the same grounds and they should pursue the dealer for their money back.
Also go to the police and report what has happened. This is to protect yourself later if the new owner or dealer reports you for fraud.

Regards



X

grey_lady

"Thanks for your advice but blackhorse cannot persue the new owner as the contract i signed was basically void. They do not own the bike becasue at the time of signing the loan there was no bike fo them to buy from the dealer their only option is to get their money off the dealer. The dealer must either take the bike back or get the money off me."

That's your opinion, but is it Blackhorses's opinion? If they are currently arranging to reposses it from you then I dont see why they wouldnt go and get it from the new owner and ask questions later, as far they're concerned they own the bike and they have your signature on an HP contract - it really doesn't seem like the dealer is going to back up what you say.
I totally agree with everything Xbigman has suggested btw, but I still think that Consumer Direct is worth a call, if they pass it over to your local trading standards they can move very quickly and they can also talk to higher up people in Black Horse.

One thing that may be useful here, if the guy on the phone at Blackhorse told you that the third agreement was the same as the first two then all theses calls are recorded - so that should help back-up your statement maybe in your letter to Blackhorse that Xbigman suggested you can ask them to pull that recording.

TBH I think you need actual legal advice from a solicitor as this could well go to court, (you could be right about this being down to the dealer and not you)
not sure if legal aid would be applicable but a lot of them do the first 15 minutes for free kind of appointments so might be worth talking to one or two.

bartonski

hi, opinions dont really count i guess, i am just stating what happened. Blackhorse has now said that they will carry on with the loan as if nothing has happened...their words. and if i run into real payment difficulties then they will have to cross that bridge when they come to it. they agreed that the dealer is at fault and that their is no real contract now by law. but to make it easier for them they will leave it as it is. but in the meantime my credit rating has suffered badly from the first three months while i was on the wrong contract and now for the past month while ive been waiting for an answer. im starting to think ill take this to court myself