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Owner died, secured loan, admin cant drive
This seems like a difficult situation that I cant find an answer for. Some basic facts:
Friends mother died, she has a secured finance arrangement on a car, but holds the V5.
She left no will, her son is managing the estate but has no letters of administration.
Little to no assets after reasonable funeral costs.
Her son, who is dealing with the estate, cant drive, and cant afford to run it anyway.
Car is parked off road until 15th sept, then the rented house is returned to owner.
The issue is the car cant be left at the house, and cant be parked on the road, since its not taxed or insured. The finance company cannot say if they will repossess it before then, and dont seem that interested until she actually misses payment.
What can my friend do?
Friends mother died, she has a secured finance arrangement on a car, but holds the V5.
She left no will, her son is managing the estate but has no letters of administration.
Little to no assets after reasonable funeral costs.
Her son, who is dealing with the estate, cant drive, and cant afford to run it anyway.
Car is parked off road until 15th sept, then the rented house is returned to owner.
The issue is the car cant be left at the house, and cant be parked on the road, since its not taxed or insured. The finance company cannot say if they will repossess it before then, and dont seem that interested until she actually misses payment.
What can my friend do?
0
Comments
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Get someone to move it?0
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Doesn't really know anyone with off road parking, plus they wouldn't be fully insured, only third party, so would be liable for the full debt if they damaged it.0
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I'd suggest that someone else should insure it - as it it was to be stolen, 'the estate' would be liable for the payments, with no car to hand back.
Or maybe demand that the finance company take it back before the 15th!0 -
Request settlement figure and find out the market value.
If there is no equity in it then VT the car and get them to collect it.
In the mean time have a word with local dealership to find out costs for removal and safe storage,0
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