Help....strange issue with car finance on HPI

AdrianC

twhitehousescat wrote: »

now the worrying thing here is that if the guy "does one" with the money and fails to pay anything off, the finance co will come and repossess the car

That'll be the car that the OP no longer has, because it's been rejected and is back with Renault?

marcusjames

AdrianC wrote: »

That'll be the car that the OP no longer has, because it's been rejected and is back with Renault?

Again, I can't sell it to Renault. I can't sell it to anyone.

Ectophile

marcusjames wrote: »

Again, I can't sell it to Renault. I can't sell it to anyone.

If you're rejecting the car, then you're not selling it to anybody. You are handing the car back, and they should return your money.


Until you hand the car back, you haven't actually rejected it.

marcusjames

But that's the point, they have said they can't take the car back as it is now not hpi clear. They have refused to accept the car until I clear the hpi flag.

Scrapit

marcusjames wrote: »

But that's the point, they have said they can't take the car back as it is now not hpi clear. They have refused to accept the car until I clear the hpi flag.

If it's being rejected why would it need to be hpi clear? Also you bought it from them, it's still a 1 owner car on the v5 and you paid for it. If you financed it then it wouldn't be hpi clear at the point of rejection seeing as it is 5 months old. What happens if you keep it to drive around and the buyer (who you really shouldn't sell to) has to keep paying off their finance? They'd be paying for something they don't have. The finance is secured against something the finance company can't claim. Worse case you drive the car crash it write it off. Then what? Not much making sense at all here.

marcusjames

Apologies, I'm not following your point.


I purchased the car for cash. They will not now accept the car as it has finance on it. They can not take it into stock as in theory I do not own it. A V5 form does not prove ownership. It is now shown as being owned by the finance company and so I cannot sell or reject it.

ciderboy2009

Personally I would be reporting this to Action Fraud and lodging a formal complaint in writing (ie: pen and paper) with the finance company informing them of the report reference.

I would imagine that the finance company would have a fraud department - that's who you need to try to get in contact with.

ellingtj

Could the finance be a dealer stocking loan, have a google.

These are fairly common but this is the first time I've seen one applied to a car which hasn't been sold. I'd ask him for his fake receipt (using these words) and see what he has to say about it?

almillar

Why is somebody so absolutely adamant that they MUST be allowed to buy this particular used Renault?

Innocent answer is that they're a long way down the line and don't want to turn back - they've already arranged the finance, we know that's a fact.

So OP was simultaneously advertising a car for sale, and attempting a rejection via the dealer?! Again, what is so wrong with the car that makes you reject it, and what's the timeline here? You may have really messed it up for yourself by 'selling' (or almost selling) your car whilst trying to reject/

marcusjames

almillar wrote: »

Innocent answer is that they're a long way down the line and don't want to turn back - they've already arranged the finance, we know that's a fact.

So OP was simultaneously advertising a car for sale, and attempting a rejection via the dealer?! Again, what is so wrong with the car that makes you reject it, and what's the timeline here? You may have really messed it up for yourself by 'selling' (or almost selling) your car whilst trying to reject/

I wasn't trying to reject the car. A service was due and I decided to do this before selling the car. It was at this service when the faults were identified. The supplying dealer said the car was clearly mis-sold to me and offered to buy it back. I didn't ask them to do this.


I have spoken to FCA and the finance company fraud departments. FCA are not interested as I do not have a direct relationship with a regulated financial institution. The finance company said they will do some investigation but they do not feel a fraud has been committed.


What they did tell me was that the finance has been taken over 36+3 months and so clearly not a stocking finance arrangement.


Words fail me. I wouldn't believe this would be possible but it is.