car on hp help

nomoneyleftinthebank

i applied to purchase a car but my application failed due to my credit rating, so the salesman told my wife to use her name for the credit. my wife then applied for the credit and was accepted with repayments of £450 per month, however she disclosed at the time in writing that her monthly income was £170 a month. she now finds that she cannot realisticly continue to make the payments. we have spoken to the finance company but they insist an agreement was made therefor the money will be deducted each month. the vehicle involved is still in same condition [second hand] so can anyone give us any advice as to solve this problem?

mountainofdebt

I'm sorry I'm being thick tonight.

Your wife applied for credit so that you (and I presume she) could buy a car and was granted it even though her income was only £170 per month and the repayments were £450 per month.

Presumably for the credit to be granted the hp company MUST have taken YOUR income into account and I'm guessing it was done with your knowlege and agreement.

Sounds like you don't want the car any more and am trying to wriggle out of the agreement.

nomoneyleftinthebank

my income was NOT taken into account and i can understand why you must think that. to be honest its a good car, but they done the whole deal thru the wife.

4743hudsonj

nomoneyleftinthebank wrote: »

i applied to purchase a car but my application failed due to my credit rating, so the salesman told my wife to use her name for the credit. my wife then applied for the credit and was accepted with repayments of £450 per month, however she disclosed at the time in writing that her monthly income was £170 a month. she now finds that she cannot realisticly continue to make the payments. we have spoken to the finance company but they insist an agreement was made therefor the money will be deducted each month. the vehicle involved is still in same condition [second hand] so can anyone give us any advice as to solve this problem?

When was a negative net outflow of £280 before other things ever realistic. I assume you were meant to be paying her to pay them (seeing as you applied first), whats changed that you cannot do this?

Its not adding up?

If it is what it looks like then you have to pay up unfortunately.

rsykes2000

nomoneyleftinthebank wrote: »

i applied to purchase a car but my application failed due to my credit rating, so the salesman told my wife to use her name for the credit. my wife then applied for the credit and was accepted with repayments of £450 per month, however she disclosed at the time in writing that her monthly income was £170 a month. she now finds that she cannot realisticly continue to make the payments. we have spoken to the finance company but they insist an agreement was made therefor the money will be deducted each month. the vehicle involved is still in same condition [second hand] so can anyone give us any advice as to solve this problem?

Do you have the form from the initial application ? What income is stated on there ? No company would approve the app when it showed a negative of several hundred pounds. Did the salesman state the income correctly ?

mountainofdebt

There is no way on this planet (certainly in the current economic climite) that your wife would have got the loan if she had stated her true income.

Therefore a) she either lied about her income or b) the salesman lied when he submitted the forms.

I still don't understand why you can't make up the difference as presumably you would have been happy to pay the monthly installments had your credit application been successful.