Car repossessed but they want full payment

Happyhugs

Hi I am new to this forum not sure if I’m posting this in the right place.
So my husband got car finance from MoneyWay in Feb 2015, never missed a payment and then got sick in Nov 2017 and couldn’t afford the monthly payments. He didn’t call them (prob due to concentrating on illness). He left it till eventually they took back the car. They now want another £5000 even though we have paid £7744. £5000 is what is left on the contract even though they have took the car and probably sold it they said because they had to repossess the car they can do that. The car is a Insignia 2011 so is still worth a few grand. He called them and said he is struggling and they have sent him a expenditure form to complete to see what he can afford monthly to pay back the £5000.
My questions are;
Can they still charge us full amount even though they have taken the car?
With the expenditure form can he just include himself and not myself as it is not my loan? And to be honest when he got the loan out I didn’t know all the details (like the massive interest rates). So is nothing to do with me.
Thanks in advance

AnotherJoe

Its not your loan. Just put his details down.

Xbigman

Ask them for a statement showing how they arrived at the figure they are asking for. You might find they sold the car at auction for silly money and the repossession charges are high, in which case your options are very limited. You might find they have charged a lot to fix faults with the car, which you could challenge if you can prove the faults didn't exist or were exagerated.

Best of luck either way.


Darren

forgotmyname

2011 Insignia's on autotrader from £2395.

Sell that at auction being repossed and it wont fetch a lot.

Add on late payment fees and recovery fees etc etc and yes it could easily add up.