Looking for Black Horse Hire Purchase cancellation advice/information

KommanderKeen

Hi. I'm looking into this for a friend (yes, that's actually true).

The scenario is this:

In August 2014 a car was bought on a Hire Purchase agreement from Black Horse. My friend was in a relationship at the time and this car and the costs was to be shared between two people. However they are no longer in a relationship.

I believe the HP is in my friends name and not the other persons. She does not want to own the car as a single individual though.

So my questions:

- If the other person wants to keep the car for themselves is it possible to swap the entire agreement into their name?
- If neither of them want to pay for the car is there an option to A- terminate? or B- sell the car privately?
- If C- hand the car back and allow Black Horse to sell it then I assume they'll end up selling cheap and my friend still has a lot to pay back?
- Are there any options I haven't mentioned above?

In a sense, any solution where my friend can gain more than 50% of the outstanding value back is a winner.

Thanks.

Edi81

The agreement will be in one persons name. Hp agreements do not tend to be joint.
Unless half of the total amount payable (initial cost + fees+ interest) has been paid they won't be able to voluntary terminate the agreement and hand the car back.
It won't be possible to swap the names on the agreement.
They could sell the car but will likely have a shortfall which needs to be made good.