Finance on car

starM

Hi,

My brother recently bought a car for £2500 about a month ago. A week ago lady came to his house saying their was finance on the vehicle. My brother was not aware of this. She completed some forms and said she will pass this over to the creditor to make a decision what next action they take.

He paid full price for the vehicle - Can they take this vehicle from him?

Thanks
MS

DVardysShadow

starM wrote: »

Hi,

My brother recently bought a car for £2500 about a month ago. A week ago lady came to her house yesterday saying their was finance on the vehicle. My brother was not aware of this. She completed some forms and said she will pass this over to the creditor to make a decision what next action they take.

I have paid full price for the vehicle - Can they take this vehicle from me?

Thanks
MS

A lot of spatial and temporal dislocation here.

• Are you your brother's keeper or actually your brother?
• Is your brother female?
• Did this lady stay at his house from last week to yesterday or is this discrepancy a result of you writing that sentence very slowly but contemporaneously?
• Are you your brother's car's keeper?
• Is your brother his/her own car's keeper?

Yesterday upon the stair
I met a man who wasn’t there
He wasn’t there again today
Oh, how I wish he’d go away

When I came home last night at three
The man was waiting there for me
But when I looked around the hall
I couldn’t see him there at all!
Go away, go away, don’t you come back any more!
Go away, go away, and please don’t slam the door

starM

Hi, I was in abit rush when I typed above posted. Post now amended. Thanks

pcombo

Was the sale private or from a garage.

What method of payment was used.

Did you get an invoice/receipt

Did you have information of the seller, if not a garage?

mo786uk

The car has outstanding finance?
If a finance company is still owed money from the previous owner of the car it would be unable to recover the car against your will. The Consumer Credit Act 1974 gives ”good title” to the innocent private purchaser of a car which later turns out to be subject to a claim by a finance company. However, if you had known or had suspicions about any agreement, and didn’t ask any questions, you would not be considered to be an innocent purchaser – ownership would not pass to you and the car could then be repossessed.
The only action you can take in these circumstances is to sue whoever sold you the car – if you can find them.


http://www.directline.com/motor/buyingprivate.htm


However I believea logbook loan is slightly different and the car can be recovered if it has a log book loan on it.

http://www.bbc.co.uk/blogs/watchdog/2011/05/log_book_loans.html

DVardysShadow

mo786uk wrote: »

However I believea logbook loan is slightly different and the car can be recovered if it has a log book loan on it.

http://www.bbc.co.uk/blogs/watchdog/2011/05/log_book_loans.html

Link refers to 'Higher Purchase'. It looks like a good article, but that mistake makes it look as though they don't know what they are talking about.