Help and advice please

Matthew07

Thinking of selling my car.
I've just completed a hpi check and though the car is not on hire purchase it's flagged up "personal loan".
It then goes on to state that the finance company, in this case black horse "the lender has no claim or interest in the vehicle but has registered the existence of a personal loan as part of the governments responsible lending drive"!

I presume I am able to sell this car? I'm 3 years into repayments.
Can I sell this with confidence and reassurance to the buyer!?

Thanks in advance

scotsbob

Seems a bit strange. If you borrow money how does the lender know what you bought with the money? Even if they knew you used it to buy a car how would they know which car you bought?

rexmedorum

Also: are you replacing your car with a new one? If so replacing your car with a new one on finance before the old one is paid off seems a recipe for building up unsustainable debts!

BeenThroughItAll

I've previously said:

Black Horse did this to me on a motorcycle about seven years ago. When I part-ex'd it the dealer identified outstanding finance.

I rang BH and advised them that they had no legal right to put an HPI marker on as the finance was a personal loan not HP; they removed the marker immediately and it was gone the next day.

Have you actually tried communicating with the finance company in question? It's worth talking to them before you start worrying about it."

Worth a call to Black Horse I think

forgotmyname

Sister bought a car from Carcraft.. I know.. But this was before this site started and the internet was so popular.

She thought it was HP but turned out to be a personal loan and the car was listed as having finance on the HPI check.