HP approved without evidence of salary

DS_Queen

Our local Vauxhall dealership approved a 4 year HP Agreement on a used car for my son without him providing any documentary evidence of his salary. After 6 months, it is apparent that he cannot afford the car and is struggling with his expenses. (We did try and talk him out of buying the car at the time but, being a teenager, he knew best!) Is there anything he/we can do to sort this out?

[Deleted User]

If you trust him to pay you back, you could get a cheaper loan to pay it off, and then get him to repay you.

DCFC79

Would have thought asking for proof of salary would be key. id be asking them why they approved it with no evidence.

_Andy_

"Our local Vauxhall dealership approved a 4 year HP Agreement on a used car for my son without him providing any documentary evidence of his salary" - nothing wrong with that - are you saying your son lied about his income level?

somethingcorporate

The finance is secured on the car so if/when your son defaults they can just come and get the car back and screw your sons credit file for the best part of his young adult life.

I'd suggest do help if you can and let this be a lesson learned.

comeandgo

Check the HP agreement, I know one of my workmates used to take her cars out on HP and once she had paid over half the hP amount she handed the car back and the HP company could not persue her for anything. I know she did this with a few of her cars as she drove a mighty amount of miles a year so they were worth less than the outstanding HP amount. We thought she would get "black marks" on her credit scores but nothing.

DS_Queen

_Andy_ wrote: »

"Our local Vauxhall dealership approved a 4 year HP Agreement on a used car for my son without him providing any documentary evidence of his salary" - nothing wrong with that - are you saying your son lied about his income level?

No, he didn't lie. His wages had just gone up and he received a bonus that month which wasn't a true reflection of his salary.

Thomas_Hardy

DS_Queen wrote: »

No, he didn't lie. His wages had just gone up and he received a bonus that month which wasn't a true reflection of his salary.

Did he not tell them that was an exceptional month, he didn't normally earn that much? If so, that would be lying by omission/ misrepresentation of his financial position.

[Deleted User]

DS_Queen wrote: »

No, he didn't lie. His wages had just gone up and he received a bonus that month which wasn't a true reflection of his salary.

so he was economical with the truth then?

custardy

DS_Queen wrote: »

No, he didn't lie. His wages had just gone up and he received a bonus that month which wasn't a true reflection of his salary.

so he presented a wage slip(s)?

mo786uk

there is a duty to check creditworthiness but it doesn't affect the individual agreement

if a business keeps giving out credit to people who cannot afford it then they might lose their licence.