Help needed!! Car hire purchase and repossession

Paul115

Hi. I need help. I got credit to buy a car, bank owns it till I will repay, so I think is hp. I got 5 months left to finish credit agreements but in my car, engine broke and can't do mot. don't have such amount to fix neither repay rest as today I got letter from Barclays finance partner that my car doesn't have valid mot and they gonna repossess it. I've repay about 10k and 1.5k left to pay off. Ive try to get in touch with them but once I've said that the engine broke but i would like to continue payment to clear loan but then its like a silence for few seconds and I can hear only " I can't hear you, hello, hello" and they hung up. So here is my question, does they can repossess car? If yes What about money I paid already for car ( bought it for 8.5k) does that will affect my credit score?
Much appreciated for any help

[Deleted User]

If the terms are that they can repossess it if it doesn't have an MOT, then yes, they can repossess it.

As long as you pay the finance according to the terms, there would be no negative markers on your credit file.

DCFC79

The engine broke, how ?

Paul115

Timing chain snapped (bmw)

macman

So is the vehicle currently off the road and SORN'd?

poppasmurf_bewdley

To start with, they cannot repossess the car without a court order.

I don't think a court would grant an order under the circumstances you have outlined above. But either yourself or, preferably, a solicitor would need to attend and put your case.

Herzlos

How much is the car currently worth with the snapped timing chain? How much is the repair?


If the car is essentially scrap, then it might be easier to just hand it back to them. Otherwise, you'll need to ask them what you need to do in order to keep it. Can you borrow the £1500 from somewhere else to pay it off completely?