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    • Web2018
    • By Web2018 14th Sep 18, 2:20 PM
    • 7Posts
    • 0Thanks
    Hire purchase car on limited company name repossessed
    • #1
    • 14th Sep 18, 2:20 PM
    Hire purchase car on limited company name repossessed 14th Sep 18 at 2:20 PM

    Hope you're well.

    I had a car finance in my limited company name back in September 2016.

    Purchase price was 26000. I paid 14000 cash and arranged for 12000 finance based on 400 repayment every month.

    Recently I had problem with work and ended up in 3 months arrears.

    This morning finance company repossessed my car without serving legal notice or court order.

    When challenged I was told it was unregulated credit agreement and they can legally take car without court order. They said either I need to pay the settlement figure which is 9000 or they will sell the car in auction.

    The market value of the car us 20000.

    Is there anything can be done to get the car back without paying the settlement figure? Or time to sell car privately so I can sell it on market value??

    I had my personal belongings as well as prams for the children in the car.

    Kind regards
Page 2
    • Web2018
    • By Web2018 15th Sep 18, 4:23 PM
    • 7 Posts
    • 0 Thanks
    Is there anything if finance com refuse to accept the settlement figure and don't return the car? They repossessed the car on Friday morning. Weekend they are closed. Thanks
    • JJ Egan
    • By JJ Egan 15th Sep 18, 4:59 PM
    • 11,922 Posts
    • 5,332 Thanks
    JJ Egan
    All you can do is ask Monday am before they shove it through an auction .
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