Car Finance outstanding and daughter sold car, what can I do?

aardwerc

Last year I helped my daughter by buying a car and financing it, the arrangement was she would pay me back each month. She has stopped paying it and there is over £2000 left. Furthermore she has swapped the car with someone so the car is elsewhere, I have contacted the police and they tell me it is a civil matter...what can I do?

The_Turner

Take her to court.

scheming_gypsy

Tell your daughter to keep paying you..
Pay it yourself
take your daughter to small claims court

victor2

Sounds like you're left with the bill and you'll have to keep paying it. If it's your name on the finance agreement and you stop paying it, the finance company will come after you if they realise they can't get the car. You could try telling your daughter you've stopped paying the finance and they are repossessing the car - depends on what sort of relationship you have with your daughter.

marlot

Do you have the V5, or does your daughter?

DO you have anything in writing confirming the payments she is due to make to you?

anotherbaldrick

aardwerc wrote: »

Last year I helped my daughter by buying a car and financing it, the arrangement was she would pay me back each month. She has stopped paying it and there is over £2000 left. Furthermore she has swapped the car with someone so the car is elsewhere, I have contacted the police and they tell me it is a civil matter...what can I do?[/QUOTE]

Write it down to experience !

scheming_gypsy

marlot wrote: »

Do you have the V5, or does your daughter?

if she's swapped the car then i'm guessing the new owner has it.

TrickyWicky

For a start don't help her out again, disown her and give her the cold shoulder. She's left you in a pickle and she's probably laughing about it behind your back.

Please don't take this the wrong way but it doesn't sound like she's got much respect for you or got her priorities right. Sounds to me like she's more concerned with living a worry free life that other people provide for her.

mikey72

Kids!
It's her inheritance.
If you think she's going to puh you around in a wheelchair and bring you hot meals, say nothing.
If you think she'll dump you in a badly run carehome, tell her that's her lot, and leave the rest to the local cats home.

forgotmyname

Sell the debt to the geezers down the pub.

wba31

If you stop paying the finance they will want to repossess the car, they can take it from the "new owner" as it still belongs to the HP company (until all finance is paid up).
If I were you I'd let them do it, no doubt your daughter will be contacted by the "new owners." then when all is died down, work out how much you're out of pocket by and send an invoice to your daughter.

Oh, and in future, let her get her own credit! this is why my parents have never borrowed a penny for my sister or myself. We got ourselves in our own messes, we then got ourselves out again.