Help needed!! Car hire purchase and repossession

Paul115
Paul115 Posts: 2 Newbie
in Loans
Hi. I need help. I got credit to buy a car, bank owns it till I will repay, so I think is hp. I got 5 months left to finish credit agreements but in my car, engine broke and can't do mot. don't have such amount to fix neither repay rest as today I got letter from Barclays finance partner that my car doesn't have valid mot and they gonna repossess it. I've repay about 10k and 1.5k left to pay off. Ive try to get in touch with them but once I've said that the engine broke but i would like to continue payment to clear loan but then its like a silence for few seconds and I can hear only " I can't hear you, hello, hello" and they hung up. So here is my question, does they can repossess car? If yes What about money I paid already for car ( bought it for 8.5k) does that will affect my credit score?
Much appreciated for any help

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    First Anniversary Photogenic Name Dropper First Post
    If the terms are that they can repossess it if it doesn't have an MOT, then yes, they can repossess it.

    As long as you pay the finance according to the terms, there would be no negative markers on your credit file.
  • DCFC79
    DCFC79 Posts: 40,598 Forumite
    Name Dropper First Anniversary First Post
    The engine broke, how ?
  • Paul115
    Paul115 Posts: 2 Newbie
    Timing chain snapped (bmw)
  • macman
    macman Posts: 53,088 Forumite
    Name Dropper First Post First Anniversary
    So is the vehicle currently off the road and SORN'd?
    No free lunch, and no free laptop ;)
  • poppasmurf_bewdley
    poppasmurf_bewdley Posts: 5,909 Forumite
    Name Dropper First Post First Anniversary
    To start with, they cannot repossess the car without a court order.

    I don't think a court would grant an order under the circumstances you have outlined above. But either yourself or, preferably, a solicitor would need to attend and put your case.
    "There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock
  • Herzlos
    Herzlos Posts: 14,685 Forumite
    First Anniversary Name Dropper First Post
    How much is the car currently worth with the snapped timing chain? How much is the repair?


    If the car is essentially scrap, then it might be easier to just hand it back to them. Otherwise, you'll need to ask them what you need to do in order to keep it. Can you borrow the £1500 from somewhere else to pay it off completely?
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