Car ownership, finance etc HELP!

benn510

Thankyou in advance to anyone who can help/advise on my situation. I cannot find any threads on my exact situation.
*My (now) ex partner took finance out on a car
*The money is paid to the hp company from her account
*I pay the money into her account first each month
*The car is registered, taxed, insured etc and only used by me
*She is now saying she no longer wants the car in her name as the extra payments are stopping her being able to remortgage due to her outgoing being to high.
*I cant take the car on in my name due to bad credit
*5 yr hp and 1yr into agreement
*13,500 total 229 per month

Can anyone advise on what she can do, what i can do or what can happen. Or anything i can say to sway her to just keep things how they are.

Plus, if she were to "arrange" for the car to be picked up by a friend or family member without me knowing, is that classed as theft or not. (who has more right of ownership over the car after the hp company)

Thankyou for reading

Caroline_a

Is it definitely HP or is it a personal loan? The 2 scenarios have very different outcomes. http://www.direct.gov.uk/en/MoneyTaxAndBenefits/ManagingDebt/DebtsAndArrears/DG_10013226

As far as coming round and taking it, that's a difficult one. If your name is on the registration document then it is yours... unles it's a HP loan. In that case the loan company can come and collect if it doesnt get paid... but your ex will end up with a bad debt.

I think I'm right in saying that if it's a personal loan then the car is yours if the registration doc is in your name, and unfortunately for her the loan is hers. She cannot sell the car in either case (see link above), so I think she may be stuck.

However, I'm not an expert - others may come along with more details.

benn510

I have the "pre contract information" sheet infront of me and at the top it says
"Hire-Purchase Agreement regulated by the Consumer Credit Act 1974"
There is more info i can give you but by what i have just typed does that make this all HP?

Many thanks

Caroline_a

Sounds like HP.... in which case car cannot be sold, she will be locked into the agreement unless she can find a way to pay it all off (and even then there may be a clause that says that there will be additional costs to do this)

This thread may be in the wrong area to attract the real experts in this - try one in the Pure Money section.