Bought a Car on Finance on auto trader.

DUTR

johndaniel147 wrote: »

What site can i do a HPI that can tell me the deal, the ones i did some days ago only just say outstanding finance is on the vehicle and did not give me anymore information..

Thanks

That's the one you should have done before parting with your hard earned cash.

angrycrow

A proper detailed hpi report such as from Experian will state who the finance is provided by and when it was provided. Compare this to the date the previous owner acquired the car from the v5 document will tell you if the person you bought it from took out the finance or if it was a prior keeper.

Out of interest how long had the previous owner had it i.e. could he have been a rouge trader registering the car to himself to deflect suspicion.

bobbymotors

Motorguy is correct in what he says.

as long as the car was bought in good faith and you were unaware of the finance then you will get clear title to the car.

It seems counter intuitive as you would think that if the person selling does not have title to the car then they cant pass title to you as the buyer.

But that's not the case: the money owed is a matter for the finance company and the person that owes them the money.

The only exception is if it's a lease - which being a 3 owner car will not be the case.

I have sold 5000 cars in my life and have experience of this, as has motorguy by the sound of it.

johndaniel147

angrycrow wrote: »

A proper detailed hpi report such as from Experian will state who the finance is provided by and when it was provided. Compare this to the date the previous owner acquired the car from the v5 document will tell you if the person you bought it from took out the finance or if it was a prior keeper.

Out of interest how long had the previous owner had it i.e. could he have been a rouge trader registering the car to himself to deflect suspicion.

I have checked and the HP was taken out in Jan 2013, the man i bought it from owned it from may 2016.

johndaniel147

bobbymotors wrote: »

Motorguy is correct in what he says.

as long as the car was bought in good faith and you were unaware of the finance then you will get clear title to the car.

It seems counter intuitive as you would think that if the person selling does not have title to the car then they cant pass title to you as the buyer.

But that's not the case: the money owed is a matter for the finance company and the person that owes them the money.

The only exception is if it's a lease - which being a 3 owner car will not be the case.

I have sold 5000 cars in my life and have experience of this, as has motorguy by the sound of it.

So what do you advice i do now, just wait to hear back from them? can they just come and take the car from my drive without any notice? From your experience with situation like this what would you advice i do, this is the reason why am here for help and advice..

Thanks

Tothepoint.

johndaniel147 wrote: »

So what do you advice i do now, just wait to hear back from them? can they just come and take the car from my drive without any notice? From your experience with situation like this what would you advice i do, this is the reason why am here for help and advice..

Thanks

Work with them, double check everything they tell you and seek advice on anything you are unsure about.

They may try and take it back, however they may not be done no ot legally and are less likely to do anything you are unaware of if you communicate with them.

angrycrow

johndaniel147 wrote: »

I have checked and the HP was taken out in Jan 2013, the man i bought it from owned it from may 2016.

You have almost certainly been stitched up by him. If he bought it in May he would have had a similar letter from black horse in June but has then disposed of the car to you knowing black horse were trying to take the car back.

This is going to make proving to black horse you purchased in good faith harder as it is not unheard of for financed car to be passed around friends and relatives to prevent the finance company repossessing the car.

bobbymotors

johndaniel147 wrote: »

So what do you advice i do now, just wait to hear back from them? can they just come and take the car from my drive without any notice? From your experience with situation like this what would you advice i do, this is the reason why am here for help and advice..

Thanks

Chase them up, make sure thy have your paperwork that you sent them, ask for the HPI report to be amended, be as helpful as you can

If you have a receipt for your purchase send them a copy of that.

You will get clear title to the car, don't worry, no one will be coming to take it away.

bobbymotors

angrycrow wrote: »

You have almost certainly been stitched up by him. If he bought it in May he would have had a similar letter from black horse in June but has then disposed of the car to you knowing black horse were trying to take the car back.

This is going to make proving to black horse you purchased in good faith harder as it is not unheard of for financed car to be passed around friends and relatives to prevent the finance company repossessing the car.

wrong.

You don't have to prove anything to black horse, they have to prove it to the contrary.

However by being as helpful as you can will hopefully ensure you get clear title in a matter of a few weeks rather than a few months

bobbymotors

angrycrow wrote: »

You have almost certainly been stitched up by him. If he bought it in May he would have had a similar letter from black horse in June but has then disposed of the car to you knowing black horse were trying to take the car back.

This is going to make proving to black horse you purchased in good faith harder as it is not unheard of for financed car to be passed around friends and relatives to prevent the finance company repossessing the car.

Although quite correct that you've been stitched up.

But it will all be ok eventually