bought car with outstanding finance 14 June 2019 at 11:09PM edited 30 November -1 at 12:00AM in Consumer Rights 51 replies 4.3K views

Aylesbury_Duck

a.turner is correct, you need to speak to a solicitor. There’s no point typing out lots of posts telling all of us what they can’t do, when they already have. As things stand you have neither the car or your money so you have no leverage. A solicitor will tell you what actions are available to you and if any are viable, how to pursue them.

sofronia

yes we have contacted solicitor, but at the same time just want to express my opinion towards this issue, and just want to get more advice before the solicitor get back to us.

apologise if my posts are annoying, i am just getting frustrated, i cant eat properly at all, feeling fed up why this world is full of crime and fraud.

prettywowers

It's pretty obvious that the OP does not speak English as his first language, and that's probably why this story seems disjointed.

Anyway, OP - you need to get proper legal advice, and you need to insist that the police record this as a crime. The finance company should not have taken the vehicle from you.

Also, it sounds like you've been ripped off. £3k is a lot of money for a car of that type with 75k on it.

BoGoF

prettywowers wrote: »

Also, it sounds like you've been ripped off. £3k is a lot of money for a car of that type with 75k on it.

A quick look on auto trader will show numerous comparable cars way more than £3k (though I appreciate that is asking price not selling price).

TW1234

oddjobbpb wrote: »

@ TW1234

You said
'You do not acquire good title to a purchased item if the so called vendor did not have good title. Therefore the nature & content of the finance agreement is crucial to determine whether the vendor was able to sell it.

If they did not, then the purchaser has sadly been defrauded and may have little prospect of recovering their money.'

Wrong.

Google is your friend, try it.

I have sold 5000 cars in my life, if an 'innocent purchaser' buys a car unknowingly on HP they will get good title to the car.

Does NOT apply to dealers that buy cars (cannot be 'unknowing') or log book loans.

Partially agreed, but it does depend on the transaction being covered as HP (which had not been ascertained at that point in the thread) and needs qualifying heavily.
ie--the purchaser must comply with several matters that the finance company cannot demonstrate on the balance of probabilities they failed to do so. ( Gets interesting at the court stage!)

And now, as the finance company have repossessed the vehicle, they have somewhat preempted that, as the onus is reversed and now lies on the purchaser to recover the vehicle by demonstrating that they did meet the qualifications.
(Edit--Add---and the mysterious vendor has disappeared it may be difficult)

The finance companys have more experience than a genuine "clean hands" purchaser.

wesleyad

I'd be interested to know in these cases, how often the finance company pursues the original debtor (who rightfully owes the money, after all they took out the finance and received the money from the sale, effectively stealing) AND pursues the new owner. Seems a bit dodgy that they could end up with getting paid twice.

sofronia

if the finance company is a honest company, they should have chased the original debtor for repayment as they have legally binded contract between them which i believe is the easiest way to recalim their financial loss. if the finance company go to the new owner asking for money and repossess the vehicle, then i believe they are trying to claim both sides.

i think current hire purchase act is not enough to protect people as it only applies after someone experience fraud, thats why i believe there should be a law/legislation either issuing a vehicle ownership form, or include HPI in the driving test theory so people have knowledge about it, or require all motor seller to attach HPI report whenever they sell vehicle, so as to prevent people falling into the trap.

sofronia

BoGoF wrote: »

A quick look on auto trader will show numerous comparable cars way more than £3k (though I appreciate that is asking price not selling price).

i did a car valuationon via AA and WeBuyAnyCar, it quotes a market value of £2200, while the finance company insist it worths over £6k. it seems there is no standard on market value as every party can give different quotes.

legal advice from our insurance company saying market value is irrelevant when it comes to private buyer, it only applies between motor trade, but dont know if this is true:cool:.

a.turner

sofronia wrote: »

yes we have contacted solicitor, but at the same time just want to express my opinion towards this issue, and just want to get more advice before the solicitor get back to us.

apologise if my posts are annoying, i am just getting frustrated, i cant eat properly at all, feeling fed up why this world is full of crime and fraud.

And what are you going to do if the advice here is different to the one you're paying for?

macman

You can't repossess a car on HP without a court order unless it is on public land, which the OP says it was not. Therefore the car has been stolen, and the police have failed in their duty by dismissing it a a 'civil matter'.