Car hp

plattybob

Hi all

I had or still have a car which i was paying to a finance company for. Now last year the car broke down beyond repair. I rang the car finance company and explained to situation to them also sending them a report to say so. I was asking for lower payments for a few months so i could maybe buy a new engine for it. But they refused an told me if i didnt make my full payments they would default my account. I then told them to default my payment then an i would take my chance in court. Anyway they sent me a letter to say they were taking me to court which was fine by me. But they refused to reposse the car. Once it had gone to court i written to them to ask what interest they now had in the car, to which they relpied they still did even thou they wont reposses it. I now need to scrap the car as it been sat on a drive for 12 months now. Just wanted to know how they can have an interset in a car they refuse to resposse, or if i can be took to court again for scrapping the car.

Sorryn for the long story.

Cheers
Lee

jonesMUFCforever

How much is owing on the HP?

They could argue that by repossessing the car you would not agree to pay anything towards the debt.
I suppose you could scrap it but the debt will still be there.

PNPSUKNET

is it yours to scrap...

CHR15

Sounds like if they repo it you might get a pound or two knocked off your debt.
I'm staggered you thought it was okay to be taken to court, you had zero chance of success.

You agreed to pay the amount in your agreement for that car. What on earth made you think you could reduce it stop payments because it broke down?

paddyrg

Call them up in the morning, swallow your pride, and say you will pay them back every penny, you're very sorry, and how much do you owe them now? It may not be too late to face the burden of extra court charges and a CCJ against your name which will make you uncreditable for 6 years or so.

Alas you bought a car from company A who sold it to you with money borrowed from company B - company B has no real care about the car, they just want their money. If it had some value, they could take it to sell (but you would still owe any balance), but you say it's scrap, so they don't want it. They only want their money, that's it.

How old was the car? Is there any warranty from the original vendor?

EDIT- Sorry, misread the post a bit. I think you will have to get them to clarify that they want the money not the car and so will allow you to sell it for scrap so you can pay them. Can you put your arguments in a formal letter requesting permission to sell the vehicle in order to repay the loan? A letter keeps things very clear and formal, it can be passed around, and so it may help more than phone calls.