Lloyds bank car finance fees

Anzhelka

TadleyBaggie wrote: »

Then I think we have the answer, the finance company have got wind that their asset has been sold and are attempting to (or have) reprocess it.

So when you sold the car did you not settle the finance?

No, i didn't settle as I had to give it as a part exchange, i needed urgently new car. so basically I'm still paying my finance without delay, just without car itself. they didn't send me any letters apart from this , saying that they I have to pay these fees in the end of agreement.

BoGoF

They can recover it from whoever you sold it to.

You have been very naive

TadleyBaggie

They own the car, they can repossess it from whoever currently has control of it.

Anzhelka

TadleyBaggie wrote: »

They own the car, they can repossess it from whoever currently has control of it.

But they would repossess it from the person , who owns it now? I mean if i'm paying the car finance without delay.

BoGoF

Yes they could

Anzhelka

BoGoF wrote: »

They can recover it from whoever you sold it to.

You have been very naive

I wasn't naive , but i just didn't read T's & C's probably until the end. i also rang them twice saying that i'm selling car and they said that it's fine if i have notified them. how can they repossess it now from different company?? they probably already re-sold it to somebody else.

TadleyBaggie

You don't seem to be getting this, the person you sold it to doesn't and never owned it. You are still on the hook for any charges incurred as the finance agreement is with you and has not been settled.

Anzhelka

BoGoF wrote: »

Yes they could

that was a dealership, who got it after me, probably been sold now to somebody else.

BoGoF

They may or may not reposess - that is not your concern.

Your problem is you sold something you had no right to and Lloyds have incurred costs tracing their asset which you are now liable for.

Anzhelka

TadleyBaggie wrote: »

You don't seem to be getting this, the person you sold it to doesn't and never owned it. You are still on the hook for any charges incurred as the finance agreement is with you and has not been settled.

ok, maybe i don't get this. what should i do now? i mean i will pay that fee , what are my next steps? how to avoid this car being taken away from the person who is registered keeper at the moment, as they are not aware that it's still under finance.