Hire Purchase massive confusion

The_Real_Cheddar_Bob

So you're asking if you can keep the car without paying the finance? 
You may end up with a problem, you may not. (Btw none of us buy the my friend thing)
If you keep putting the money aside at least if they ask you for it you will have it. Otherwise if you have spent it, which is more likely, you need to contact them to start the fiance payments. 

Of course you can roll the dice, but that might leave you exposed to fraud, even though initially it was accidental. 

FaceHead

Keep quiet, and keep putting money aside in case the finance company wake up. Grab a five year mortgage quickly as your (friend's) credit record is currently in good shape, and by the next remortgage the car debt will be statute barred. 

A risky option yes, which could result in late payment markers, but the potential benefit of the saving is large. 

Things are going well, don't rock the boat but then if the finance company do come knocking, pay up straight away to avoid a CCJ or fees. Six years after signing the loan agreement and making no payments you can go on holiday with the money. 

MrFrugalFever

Although interestingly if someone with regular hire purchase payments has been unaware of their payments coming out of their bank account each month either they’re a) very well off financially or b) lacking in something.....?