Bought vehicle with outstanding finance.

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Comments

  • Mercdriver
    Mercdriver Posts: 3,898 Forumite
    First Anniversary Name Dropper First Post
    oddjobbpb wrote: »
    Indeed Shaun, although the OP does state that its HP....what he paid for the car re market value at the time I've no idea.

    But as you quite rightly state, if it was HP, if he is a truly innocent private purchaser, and if he paid around market value for it, then he will (eventually) get clear title.

    Been though this scenario half a dozen times when I was dealing cars....the finance companies don't always play by the book, trying to intimidate people into handing over a car etc., but if the above criteria apply and you both stand your ground and co operate while they investigate, title is obtained in the end.

    what merc driver was referring to was a dealer stocking loan, I'm aware of that.

    All good.

    My point was that the issue that comes up most here is the dealer stocking loan. What you are suggesting will result in fewer people getting help on here. The scenario here is far less frequent on this forum than the stocking loan, so I don't get why you are whinging about it needing to go into bulk post that few people read.
  • oddjobbpb
    oddjobbpb Posts: 76 Forumite
    It seems to crop up fairly frequently to me, but hey, it's not the end of the world either way, I just thought it might help.

    no harm done!
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