Car Financed for Ex

Sammyy99

Please can someone advise me.

I stupidly got a car on finance for my now ex, due to him having bad credit. The finance is in my name but he is the registered keeper. He has paid for the car for the past few years but has not sent the most recent payment. If he does not pay, where do I stand?

I don't have the finances to pay for a car I do not have access to. Do I have any right over the vehicle as he's the registered keeper and has paid up until now? 

fatbelly

You have the right to Voluntary Terminate, assuming this is Hire Purchase or Conditional Sale under the consumer credit act. You did not say what type of finance this is.

https://www.nationaldebtline.org/fact-sheet-library/hire-purchase-debt-ew/

But will need to make sure the car is available for collection

Grumpy_chap

I understand that VT requires 50% of the total to have been paid.  The OP has not stated this to be the case.

400ixl

The V5 document does not (and says on it) have anything to do with the ownership of the car. It is basically who is the numberplate assigned to of which the vehicle is attached to it. Hence the registered keeper, not owner.

Sammyy99

The cars on PCP, and has been paid off over 50% so can returned. I just don't know how that would work if he made the situation awkward - I know he wouldn't hand over the keys willingly. 

Such a mess, never take a loan out for someone else let me tell you.

Nasqueron

Sammyy99 said:

The cars on PCP, and has been paid off over 50% so can returned. I just don't know how that would work if he made the situation awkward - I know he wouldn't hand over the keys willingly. 

Such a mess, never take a loan out for someone else let me tell you.

Remember, as above, it's not just 50% of the payments, it's 50% of the total payment, including interest and balloon.

If you are certain and want rid, then ask for a VT and if he won't hand over the car, advise it will be reported as stolen

Herzlos

If you own the car (which you do, since you took out the finance) and he's not paying for it, then report it stolen, try to get the car back and then return it to the finance company or sell it if there's any equity.

macman

Did you by any chance retain the spare set of keys? if you did, go collect your own car. The reg'd keeper has zero claim on legal ownership.