Car on Credit

used_car_manager

pgilc1 wrote: »

i would seriously get legal advice on this.

The crux is, in order for the car to be 'given' to the O/P the finance needs to be cleared with monies from the estate of the grandfather.

The grandfather clearly wanted the grandson to have the car, not the debt and the car.

but if the car is negged and can be handed back without further payment the grandfathers estate will have more money in it :T

unfortunately we dont know all the facts, we need to know details about the car and the fiance agreement other wise the OP could make the wrong decsion

forgotmyname

pgilc1 wrote: »

i would seriously get legal advice on this.

The crux is, in order for the car to be 'given' to the O/P the finance needs to be cleared with monies from the estate of the grandfather.

The grandfather clearly wanted the grandson to have the car, not the debt and the car.

Yeah but this will be down to the executor. If they decide they dont want to waste £15,000 on settling the finance to then give the car to someone how can you force them?
If nothing in the will states the car is to be paid for 1st, Then i doubt you could.
Depends on the figures and the will etc etc... I had the unfortunate situation of having to sort a funeral out a while back.
I knew nothing about all the legal aspects. So i took the money from the various accounts and policies. Shared them out between their family and left it at that. No major property and not a huge sum of money.
If i got it wrong they can sue me

In the situation above i would have phoned them to say he had passed away and no funds in the estate to pay for it.
Im sure they would be happy to get the car back and not have to wait many months down the line to find out they were getting no more money and the cars been given away.

Looks like the will was inadequate, It should have stated what would happen to the finance etc.

But without knowing what its worth and the wording on the will it could be costly to move forward.

motorguy

Reg_Vardy wrote: »

but if the car is negged and can be handed back without further payment the grandfathers estate will have more money in it :T

unfortunately we dont know all the facts, we need to know details about the car and the fiance agreement other wise the OP could make the wrong decsion

In circumstances like this, the finance company usually claim the negative amount back from the estate of the deceased - after selling the car off at auction

motorguy

forgotmyname wrote: »

Yeah but this will be down to the executor. If they decide they dont want to waste £15,000 on settling the finance to then give the car to someone how can you force them?

The grandfather presumably believed he was leaving a car to his grandson.

The executor here is in a position to either fulfill that wish OR have more money in the estate, to be given out to someone else.

I would have thought all debts should be cleared THEN assets allocated as per the will.

I would be seeking legal advice if I were the O/P.

forgotmyname

Just wondering what if it was someone like me that wanted the easy option.

Hand the car back with a copy of the death certificate saying there are no funds to make further payments.

Obviously if he had other assets this would not be so easy.

motorguy

O/P

I posted this over on another forum and someone has made the observation...

Your grandfather could have said in his will

(a) "I leave my car to X, if he is willing to take on the loan payments for it"

(b) "I leave my car to X, to be transferred by my executor free of all encumbrances"

(c) "I leave my car to X"; which may raise an ambiguity because of the fact of the loan.

Thats really the understanding you need to sort out. If its (a) or (b) then its fairly clear cut, but if its (c) then you might have a battle on your hands...

poppasmurf_bewdley

My understanding would be that if Grandad left you the car in the will, then that is his wish. You should get the car. He can't will you any debt - his estate should pay this off if there is sufficient money.

Your best bet is speak to a solicitor who specialises in wills for advice. A small amount spent here could pay big dividends.

Oli.s

Can you stick to the one thread OP there are people repeating the same thing in both threads.......

https://forums.moneysavingexpert.com/discussion/4333435

rp951

The car is a mercedes and mercedes have offered four options. Transfer financial monthly payments , buy car flat out, return car and pay a one off fixed fee or return car which will then be auctioned and balance claimed against estate. I have analysed all four options and non are in my favour. The will in the 2nd paragraph says all debts and liabilities to be cleared and in 4th paragraph says if i may own a car to be given to grandson absolutely.

As you can see the will is open to interpretation we different people perceiving it differently. Unfortunately the executor is perceiving it as he didn't own it emphasing on the "if I may own" . I'm viewing it as my grandad wanted to clear debts first own the car and give it to me.

Nightmare. You well and truly don't know your own blood and family until someone passes away. Very disappointed with my uncle.

arcon5

poppasmurf_bewdley wrote: »

My understanding would be that if Grandad left you the car in the will, then that is his wish. You should get the car. He can't will you any debt - his estate should pay this off if there is sufficient money.

Even though the car is probably owned by the finance company? In which case he may not have the power to give it away. It is my wish to will my kids the house down the road, doesnt mean I have the power to do so