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

Trebor16

It depends on the type of finance. Was it a personal loan or was it HP? if it was the latter then the finance company would be very interested in what has happened.

fivetide

Yep.

If you are not worried about other loans/mortgages etc, let them repo it and let her sort out the mess.

If you had to sign for it, I hope it wasn't because she has a history of this sort of thing.

5t.

colino

If you don't want to take the proper action, reclaim the car (it wasn't hers to "swap") and either keep it, sell it or negotiate with finance company, then put on that wide grin and take it, your daughter clearly thinks its the done thing to take you for a ride.

AlexisV

Presumably you have a pretty sour relationship if you went to the police.

Personally I'd track the car down and tell your finance company that you can't afford to pay, where the car is and to repossess it.

bromatt

Depending on the circumstances of your daughter (does she live with you/is she single/over 18) then this sounds like a borderline accommodation deal so technically fraud which you have committed.

You need to get that car back ASAP (which you are responsible for) who's name is on the V5?? Hopefully she hasn't 'SOLD' the car on otherwise you are in a world of mess...

Matt

s_b

i read it that it was a personal loan
that the log book was put in the daughters name
that she obviously decided that the payer was of no concern to her
this has happened twice in my life
both times the police wouldnt get involved
in one case i repossesed the car and havent spoken to the family member in 14 years
the other time i won my case but still had to pay to get my car back as they alledged they had bettered it to the judge
moral of the story
let banks do the lending in future