Still got outstanding finance.. what to do?

psychopathbabble

Sorry I know this has probably been answered several times but I've tried searching...

My boyfriend bought a used car in January 2011 from a dealership. In September 2012 he found out it still had finance on it (from previous owner who sold it to dealership) when he was looking at trading it in for another car. He contacted the dealership who then emailed to say it had been taken care of and taken off the system so shouldn't be an issue. He still has the original car, and was looking again this weekend at trading it in for another car. The finance is still showing up as active!

As an aside, he was also told the car had built in bluetooth when he bought it. Turns out it didn't so he had to pay £500 to have a kenwood bluetooth system installed (dealership gave him a 'deal' on it).

He has emailed the dealership today to say he is seeking legal advice as it is preventing him from being able to sell the car and he had written confirmation from the dealership previously to say it had been sorted.

What is he able to do? He seems to think he could go to the ombudsmen and complain, and the dealership will have to pay £50k fine to him?

motorguy

psychopathbabble wrote: »

Sorry I know this has probably been answered several times but I've tried searching...

My boyfriend bought a used car in January 2011 from a dealership. In September 2012 he found out it still had finance on it (from previous owner who sold it to dealership) when he was looking at trading it in for another car. He contacted the dealership who then emailed to say it had been taken care of and taken off the system so shouldn't be an issue. He still has the original car, and was looking again this weekend at trading it in for another car. The finance is still showing up as active!

As an aside, he was also told the car had built in bluetooth when he bought it. Turns out it didn't so he had to pay £500 to have a kenwood bluetooth system installed (dealership gave him a 'deal' on it).

He has emailed the dealership today to say he is seeking legal advice as it is preventing him from being able to sell the car and he had written confirmation from the dealership previously to say it had been sorted.

What is he able to do? He seems to think he could go to the ombudsmen and complain, and the dealership will have to pay £50k fine to him?

Chances are the finance has been cleared but its not showing correctly on HPI.

Go to the supplying dealer, have them ring the finance company involved and confirm they have no financial interest in the car. Get them to send it out in writing. Ask them to get HPI updated.

IF it still has finance outstanding, its up to the supplying dealer to clear it.

Whilst he is perfectly entitled to complain to anyone he likes, he wont be getting a cheque for £50,000 or any other amount as a "fine".

psychopathbabble

motorguy wrote: »

Chances are the finance has been cleared but its not showing correctly on HPI.

Go to the supplying dealer, have them ring the finance company involved and confirm they have no financial interest in the car. Get them to send it out in writing. Ask them to get HPI updated.

IF it still has finance outstanding, its up to the supplying dealer to clear it.

Whilst he is perfectly entitled to complain to anyone he likes, he wont be getting a cheque for £50,000 or any other amount as a "fine".

Thank you

psychopathbabble

There is outstanding finance on there... does that make a difference?

motorguy

psychopathbabble wrote: »

There is outstanding finance on there... does that make a difference?

The supplying dealer must sort it. What are they saying?

psychopathbabble

motorguy wrote: »

The supplying dealer must sort it. What are they saying?

They are getting a settlement figure. We have an email from 18 months ago confirming it had all been sorted out but it clearly hasn't!

Nodding_Donkey

psychopathbabble wrote: »

He seems to think he could go to the ombudsmen and complain, and the dealership will have to pay £50k fine to him?

LMAO Which ombudsman is that then, the cloud-cuckoo land one?

arcon5

Even if there is finance on it, as an 'innocent buyer' they cannot repossess the vehicle.

£50k fine? Erm lol

What ombudsment?

bigjl

There will he no compensation to the tune of £50k

Any car bought from a bonafide car dealer has good title at point of sale.

The debt stays with the dealer.

I would contact HPi aswell

And get this investgated as it is likely a clerical issue

If it was truly still financed then you would have been contacted by the finance company wanting the outstanding balance or the car.

psychopathbabble

The supplying dealer have actually gone into administration! The company that have taken over have called him today. This is a summary of the email he sent me:

the finance on the car is tied up in the liquidation and legal proceedings of the supplier going bust

The finance company isn't getting back to the current dealer to let him know what we can do about it

If we do go through CAB and financial ombudsmen, we probably won't get anything back from the company gone bust (I said we would be bottom of the pile!)

Could result in car being repossessed.




My boyfriend is obviously panicking now, but he has a receipt for the full value of the car as he paid it in full. And an email from 2012 to say the finance has been sorted, so he was clearly an innocent purchaser.

psychopathbabble

bigjl wrote: »

If it was truly still financed then you would have been contacted by the finance company wanting the outstanding balance or the car.

I thought that too... so it's doubtful it's still attached to the car itself, perhaps the dealership (who are now bust) was paying it or something?