Ex-Boyfriend + Car Finance

Segandy

hi All,

hope you can help with a bit of pre-emptive advice.

In my previous relationship myself and my then boyfriend bought a car using Black Horse finance.
I took the loan out in my name as he had/has a very poor credit record.

When we split over a year ago he agreed to keep the car and carry on paying me the monthly amount via standing order into my account.

In general, things have been fine but this month nothing has gone into my account (it is usually there by the 6th of the month).

I've just emailed him to see if there's a problem and am waiting for his reply.

The loan was for 5 years and has been running for just over 2 years.

If he doesn't pay or has sold the car can anybody tell me where I stand?

thanks in advance

Paula

baldyj

In short the loan is in your name and is your responsibility, so if he decides he doesn't want to pay any more or has sold the car then there is not a great deal you can do to force him to pay up. You will have to keep paying the loan unless you want to ruin your credit rating.

Who's name is the car registered in?

glasgowsaver2011

If its a personal loan over the car (which mine was with black horse) then there may be a HP marker on the car, but not one that can stop it being sold.

I had the same loan and the same problem

She was my girlfireind, became an ex, she still paid.

But then she had some serious money worries and killed herself.

Leaving a car sitting in her drive, and her family thinking they were entitled to the car.

The police agreed that I had bought a car and given it away, luckily a lawyer disagreed and wrote to her family and said the car was mine as the finance was in my name.

My lawyer said my ex was " the principal driver of the car as she was named on the v5 as the registered keeper" but that does not mean she owns it.

From your post it sounds like you pay the money from your account and your friend just drives your car with your permission - you are not insured on it as you have no need to be.

Withdraw your permission to allow him to drive it.

Tell him this.

He either returns the car to you (which you then sell privately) or you inform the police.

The finance company wont care as long as payments get made.

Its your credit rating that will suffer however!

Under no circumstances return the car to the finance company (unless its an HP agreement with a return clause after 30 months) as they will auction it and you are liable for the difference

Hope this helps

glasgowsaver2011

baldyj wrote: »

In short the loan is in your name and is your responsibility, so if he decides he doesn't want to pay any more or has sold the car then there is not a great deal you can do to force him to pay up. You will have to keep paying the loan unless you want to ruin your credit rating.

Who's name is the car registered in?

It does not matter whose name the car is registered in

The front of the v5 document says

"this document is not proof of ownership it shows who is responisble for regsitering and taxing the vehicle"

If the money has come out your account, the finance is in your name.

The car is yours.

He had no right to sell it (which he may not have done).

baldyj

glasgowsaver2011 wrote: »

If the money has come out your account, the finance is in your name.

The car is yours.

In which case OP i would take back possesion of the car (easier said than done i'm sure) and tell your ex you will sell it to him for the price of the remaining finance.

Segandy

Hi,
thanks for getting back.
surely there must be something?
It can't be right that he can drive around and not have to pay?

wouldn't the loan be secured on the car?

It's registered in his name BTW.

My credit record........., we had debt when we split which I'm paying off now so it isn't very good anyway.............

Paula

Segandy

Sorry!!!

the other posts went on as i was typing my reply to the first!!!

Thanks for all your suggestions -I hope I dont have to resort to any of them.....

thanks again
:-)

baldyj

Segandy wrote: »

Hi,
thanks for getting back.
surely there must be something?
It can't be right that he can drive around and not have to pay?

wouldn't the loan be secured on the car?

It's registered in his name BTW.

My credit record........., we had debt when we split which I'm paying off now so it isn't very good anyway.............

Paula

Well the car is yours, so you are the one letting him drive around in it for free. Take back possesion of the car (report as stolen/TWOC?)

the loan would be secured on the car, but will only be repossessed if payments are not made by you - but if you do not make the payments you credit record will be further destroyed, and all fees and costs of the repo and auction together with the outstanding amount of finance (which they is sure to be) will all be your responsibility.

RobertoMoir

baldyj wrote: »

Well the car is yours, so you are the one letting him drive around in it for free. Take back possesion of the car (report as stolen/TWOC?) .

That seems like a bad idea when its neither stolen, nor TWOC at this point. The OP needs to tell their ex that they wish to have their car back. What happens after that is when it gets interesting.

baldyj

RobertoMoir wrote: »

That seems like a bad idea when its neither stolen, nor TWOC at this point. The OP needs to tell their ex that they wish to have their car back. What happens after that is when it gets interesting.

Apologies, i had moved on a step making the assumption that any request for the car back would be refused!

OP obviously ask for the car back first and foremost and see what he says.

vax2002

What a mess !
If he wont pay, you may be better asking the finance company to repo the car sooner rather than later, you can not sell it for 3 years and if he smashes it up and does not have fully comp insurance you will be left holding the baby and the bathwater.

Providing the car is in good working order it may help mitigate your losses.
If the Ex pipes up, then let him negotiate a new contract in his name for the loan.
One thing is certain, you will be out of pocket, I would say your better biting the bullet as soon as possible.
It wont matter if he has sold the car the HP company will just repo it from the new keeper as it was not his to sell, let him worry about that.