car finance on death.

merlin68

A relative has just died and his wife doesn't drive and the car is on finance with santander
Obvioulsy the car can't be sold as is on finance and is parked on a public road with no way of moving it.
Any ideas on what to do? With the car and the loan.

BugsyBrowne

merlin68 wrote: »

A relative has just died and his wife doesn't drive and the car is on finance with santander
Obvioulsy the car can't be sold as is on finance and is parked on a public road with no way of moving it.
Any ideas on what to do? With the car and the loan.

Sell the car privately doesn't matter if it's on finance as the buyer pays the finance off.
But sounds like you can't move it.?

chanz4

ask Santander, any estate?

fearlessdukuman

Contact Santander?

If she has the agreement maybe have a read through of it.

Is there any money in the car or is it in negative equity?

You can sell it, with the buyer paying the finance off and paying the balance to your relatives wife.

merlin68

The car will be in negative equity as worth 7500 and loan is for 13000. dont want to give the wrong advice.

merlin68

Sorry car was bought for £7500 and finance almost double what car is was bought for only paid one year of.

jonesMUFCforever

Is it on HP or just a personal loan?

merlin68

it's a fixed sum loan for £13,047.80
Car worth £8331
The agreement lists the car details in it.

jonesMUFCforever

merlin68 wrote: »

it's a fixed sum loan for £13,047.80
Car worth £8331
The agreement lists the car details in it.

Sorry but you have not answered the question.
A HP agreement will have that on the agreement whilst a personal loan will have a CCA agreement.

Before I can advise further we need to know for definite what type of loan it is.

antrobus

merlin68 wrote: »

A relative has just died and his wife doesn't drive and the car is on finance with santander
Obvioulsy the car can't be sold as is on finance and is parked on a public road with no way of moving it.
Any ideas on what to do? With the car and the loan.

The car is an asset of the deceased relative's estate, and the Santander finance is a liability of the deceased relative's estate. (Assuming that the non-driving wife didn't sign up for the loan, which would be likely).

Did relative have a will? Who is the executor? Has somebody told Santander that their customer is deceased?

As mentioned above, someone needs to establish whether finance is HP or loan, i.e. is it secured on the car. Which might matter if the relative's estate is insolvent; but otherwise won't really matter.

merlin68

Thats all it says the type of credit: Fixed sum loan agrrement regulated by the consumed credit act 1974.
No will £30 in his bank account, lived in council house.
Wife not on loan or bank acccount. Theres also 2 catalogues and a credit card.