Car loan/finance

kati123

Ok i have no idea where this thread should go so feel free to move it..

Basically my problem is my ex boyfriend 'bought' me a car for my birthday. By 'bought' i mean on finance.
He's paying for it. Because the finance was in his name the car was put in his name too. We transfered the ownership to me. So legally i own the car?!

Problem is, we broke up a few months later and now he wants the car back. He said he has come to an arrangement with the HP people and that they will contact me to take the car.
I thought that it was just a normal loan when we transferred ownership (mainly in fear of it being taken away from him if payments were stopped)
He is now after paying 6 months of finance already going to give the car back and pay an extra 5k on it. Its only worth 10k to begin with.


I read that people were protected in this case where they didnt know the car was on HP, does this cover me as it was a gift? and i thought it was a normal loan.

Any advice, help would be muchly appreciated.
Thanks

paulsad

How did you transfer ownership?

TonyMMM

kati123 wrote: »

So legally i own the car?!

Very unlikely ... the exact answer will depend on how the car was purchased (HP, personal loan etc.) but I would think that you may be the "registered keeper" of the car on the registration document, but the owner is almost certainly still the Finance company.

The only way you will keep the car is for him to keep paying, or you to take over the agreement somehow and pay yourself ...

Hax

If he stops making payments then it will be HIS credit record that gets trashed, not yours Just make sure you have closed all joint accounts and have no financial association in your credit reports.

kati123

I transfered ownership by the registration document, and sent it off to the DVLA. The Car company that 'sold' the car to him knew that it was being bought for my birthday. Shouldn't they have said something? They did take my details for putting on the car documents, but because its was on finance that didnt work out as the salesman said. We haven't had any joint accounts or anything so no worries there.
He was looking about selling it on webuyanycar.com aswell and offered me a cheaper car instead (which i refused) so if he can sell it to them (like he planned to), why can i own it?!
Thanks for your replies so far

Apples2

Why not give it back to the poor sod??

He has buried himself in debt because of you, now you are sticking two fingers up at his only way out.

Nice girl......not !!

head_done_in_2

he cant sell it to webuyanycar, they woulodnt buy it because theres finance oweing on it and they would never give the amount to pay the finance off, stay away from webuyanycar the prices they will pay are abismal

TonyMMM

If it's on finance you don't own it .... being the keeper on the registration document is just that ..."the keeper"

head_done_in_2

TonyMMM wrote: »

If it's on finance you don't own it .... being the keeper on the registration document is just that ..."the keeper"

the only way you could keep the car is if theres only a thrid of the finance left outstanding, as far as im aware