Car on finance - Who owns what?

silkyuk9

Ok, little bit of a situation and looking for some advise/help.

Son and gf moved into a home and bought a newish car (£7000) on HP. This was done by a relative getting the loan and son and gf (gf relative got loan) paying them back each month.

Car in gf name on log book.

when they got the car they could barely afford to run the car. Each month I (father of son) was giving money for petrol which was around £50 maybe upto £80. Also as the car needed maintaining in the 2 years they have had it I paid 2 services @ £300 each, 4 tyres at £250 , new wind screen at £70 (excess) a MOT and help with insurance. If I had not helped the car would have certainly blown up or been impounded by the police through bald tyres.

Now the relationship has ended the gf wants the car back (some loan still outstanding) as the car log book is in her name.

I am not happy as ive invested in the car and have receipts to prove it.

Basically I think as the car was bought in the relationship it should be sold loan paid off and what ever is left split.

Is this reasonable? what would the law say if I went to a small claims court if things got messy the car is worth around 5K (focus cmax (could be gmax) 2009)

I might not have a leg to stand on but without my imput there would be no car and the car was bought while 2 people where in a relationship.

Cheers

tonyh66

the finance company owns the car until it is fully paid for

silkyuk9

tonyh66 wrote: »

the finance company owns the car until it is fully paid for

Yes I know that, but if the car was sold through a reputable garage or another company who knew it was on HP and the loan was paid off etc etc.

colino

The car belongs to the HP company until their terms are met and then the GF owns it. You haven't any "investment" in it, you loaned money to a !!!!less son to gad about in a car he couldn't afford. Forget about it, he will forget about her just as soon and don't be an open wallet to your kids.

colino

The overactive censor on here read f e c k as some kind of dodgy swearing. If I'd meant that, I could have suggested he was a wasteful !!!! with !!!! all sense of responsibility.

TonyMMM

The name on the logbook identifies the "Registered Keeper" and has nothing to do with ownership.

As it says in big letters on the V5 (Logbook) "This document is not proof of ownership"

SLITHER99

Personally, I would just move on. Tell the son not to be so silly next time that if he can't afford to run a car, he should drop 7 G's on one! Especially if those 7 Gs are being borrowed from someone he doesn't even really know!

At the end of the day, I doubt a court will come down favorably on your side! At the end of the day, your son has had use of the car too, the car has most likely depreciated in value and nobody in their right mind would buy a car with finance outstanding on it anyway.

Face facts. The relationship is over. Lessons have been learned. Bandage the wounds, move on and stop dwelling over it. I know this sounds harsh, but you just need to get with the program here!

King_Nothing

Who's name is the finance agreement and the bill of sale in? Until the car is sold and the finance is paid off, the finance company own the car. After it's paid off, whoever's name is on the finance agreement and the bill of sale own the car/capital from the car. Name on the V5 doesn't mean much.

scheming_gypsy

How much is still outstanding on the finance?

If it was a 7k loan / finance deal, how much is left to pay off? if you only think the car is worth 5k is there going to be anything worth fighting over when it's paid off?

OddballJamie

scheming_gypsy wrote: »

How much is still outstanding on the finance?

If it was a 7k loan / finance deal, how much is left to pay off? if you only think the car is worth 5k is there going to be anything worth fighting over when it's paid off?

Exactly. Depending on the term and interest rate the finance owning could quite easily be greater than the actual cars worth once depreciation is taken in to account.

Having a quick look on Autotrader 09 plate C-Maxs from dealers are close to the £5k mark, which would put trade at £3.5k-£4k maybe.
Take this for example, six months older but high spec
http://www.autotrader.co.uk/classified/advert/201309108711186

Also sounds like you were taken advantage on regarding services, £300 each one on a Ford? Doubtful. Most of the things you've paid for are general maintenance.

I'd just wash your hands of it and walk away. Lesson learned for your son.

albionrovers

Leave the gf with all the mess of the finance and walk away. Could the car be in -ve equity right now? Her problem, not yours.