Black Horse Finance Car

bubbalang7

Hi,
First post!
My mum kindly took out some finance for a car with Black Horse about 3 years. Unfortunately, she died about 5 weeks and I kept the car which I still have. Their is still about 2 years left to run on it. Where do I stand on the loan & giving the car back

[Deleted User]

The loan will be settled from her estate. If it was secured on the car, then they will take that back as part settlement.

Let them know as soon as you can, as presumably payments are no longer being made and you want to avoid them putting it into collections.

Edi81

Sorry about your loss. I take it that even though the finance is in your mothers name you drive the car. Are you the registered keeper of the vehicle? 
If the loan is secured on the vehicle (highly likely with Black Horse) then it will need to be dealt with as part of the estate. 

bubbalang7

Edi81 said:

Sorry about your loss. I take it that even though the finance is in your mothers name you drive the car. Are you the registered keeper of the vehicle? 
If the loan is secured on the vehicle (highly likely with Black Horse) then it will need to be dealt with as part of the estate. 

Hi, the car is registered in my name & I have been making the payments since she passed away. She passed away in January 2018 & I have been making the payments since. Their is no estate because it was all settled in 2018

Grumpy_chap

That last post does not seem consistent with your OP.  Nor is it clear from the OP what outcome you would ideally like to see.

The car finance agreement (in your Mum's name) should have been resolved when the remainder of her estate was settled two years ago.  How did the Executor's overlook this?  

You should probably contact the finance company now to 'normalise' things.  Given you say that you have kept up payments, they may not be that fussed, but a deceased person cannot continue to hold debts beyond probate.

DrEskimo

Get a rough valuation for the car by getting a range of values from WBAC, dealers and garages. The get a settlement figure from the finance company and see what the difference is. It may be prudent to wait a while if you can to see if market conditions improve.

Alternative is to contact the finance company and ask for the 50% Voluntary Termination point on the contract and ask how short of that figure you currently are. You can pay to reach the VT figure and hand it back (subject to any excess mileage or damage charges) that way. Although, if you have some use of the car, it would make much more sense to just continue making the payments until you reach that 50% mark through your monthly payments.

normanna

Something you need to look into is insurance as you may not be insured to drive the car. 

bubbalang7

Grumpy_chap said:

That last post does not seem consistent with your OP.  Nor is it clear from the OP what outcome you would ideally like to see.

The car finance agreement (in your Mum's name) should have been resolved when the remainder of her estate was settled two years ago.  How did the Executor's overlook this?  

You should probably contact the finance company now to 'normalise' things.  Given you say that you have kept up payments, they may not be that fussed, but a deceased person cannot continue to hold debts beyond probate.

Hi, I didn’t make myself clear on my op.
My Mum, in behalf, took out a black horse finance loan on a car in November 2017. She died 5 weeks later in January 2018.
The cars always been registered in my name & the payments have always come out of my account.
 I still have 30 payments to make.
Where do I stand legally on everything especially if I don’t want the car anymore?

molerat

The problem you have is that whoever was executor did not settle the estate correctly and could be held personally responsible for any debt.  Was there any money distributed from the estate ? What type of finance is it, the documents will have this clearly written at the top, this is important as to what options you may have.