Scary Letter

[Kenno]

I got a letter from a finance company saying that there's outstanding finance on my Yaris from the previous owner and they're going to recover the vehichle!!!

NOOOOOOOOOOOOOOOOOOOOOOO!!!!!!!!!!!!!!!!!!!!!!!

[Fidgits]

did you buy it from a dealer or private?

[dave5282]

If its from a dealer, then the HPI should have the beef with them, if its private I would suggest maybe....

Take it off the street, and contact your solicitors, also contact them HPI/Finance company and find out how much is outstanding.

[Fidgits]

well, my thinking Dave, if it is from a Dealer or any registered company (i.e. garage).. then they are responsible for clearing the outstanding finace on any car they sell.

Now, there are 2 options available if you have bought it privately.

Firstly, contact the finace company, and provide the details of the person you bought the car from (should be on the V5), and explain you are the new owner, and bought the car outright without the knowledge of outstanding finace.. Then contact CAB (or solititor if you have one).

DO NOT PARK YOUR CAR ANYWHERE NEAR THE REGISTERED ADDRESS.

Second, and quite severe, is to contact a debt collection agency... Im not going into this in public, but if you want more info, please PM me.

[dave5282]

RE the legal side of things, if you have any legal protection etc form your breakdown or insurance company they may be able to help you, remember you will not be the first person to have done this, there is info etc on the net

[SMW]

All the above . . get it away from your address and off public property. Remember repossesion agents will have KEYS, one will drive it off and the other will stick a note through your door and leave a bag containing any personal possesions you had in the car on your doorstep.

Get it on a mates drive - especially if they can park in front of it. A garage is even better. If practical consider immobilising the car with a wheel clamp (removing ignition components won't help if they tow). Direct any callers to your solicitor.

[Demonic Angel]

Really sorry to hear about that Kenno, and I hope you get it all sorted soon!

Surely if he has a garage they cannot break into it, so could he not garage it at his house (if he has a garage to use of course)

I was under the impression that they would need a warrant to break into your house and garage is part of house.

What about if he contacts the previous owner in the logbook and questioning them? If he bought private that is?

[dave5282]

I would not contact the previous seller yourself IMO, they will be aware that it has outstanding finance on it, and will have sold it for a reason, it could all get a bit unpleasant??!!

I really think you need to seek legal advice ASAP, but make sure you hide the car!!!

[SMW]

Some good news (maybe):

http://www.oxon-tss.org.uk/templates/rights/answer.cfm/3/84

[vmail]

All the above . . get it away from your address and off public property. Remember repossesion agents will have KEYS, one will drive it off and the other will stick a note through your door and leave a bag containing any personal possesions you had in the car on your doorstep.

Get it on a mates drive - especially if they can park in front of it. A garage is even better. If practical consider immobilising the car with a wheel clamp (removing ignition components won't help if they tow). Direct any callers to your solicitor.

they can still lift cars

[T V O R]

I got a letter from a finance company saying that there's outstanding finance on my Yaris from the previous owner and they're going to recover the vehichle!!!

NOOOOOOOOOOOOOOOOOOOOOOO!!!!!!!!!!!!!!!!!!!!!!!

     

HPI WILL be liable if they said it was a good purchase.

I just hope you did use HPI before parting with your cash.

Keep us updated.

[Kenno]

PHEW!

It's all ok! Hopefully anyway.

I bought it from a dealer - apparently they'd got it from an auction, and the final settlement payment had been sent off to the finance company, but may not have got to them. I've been told to forget about it now, cos they've sorted it - they'd better be right!

The finance company said that they wouldn't take the car off me and that they'd sue the dealers if they had to cos I was 'innocent'. The scary thing is that they said the only time they don't go after the car is when you can prove you didn't know there was outstanding finance on it, and in reality, the only way you can prove that is to buy it from a dealer who should have checked the HPi. As if anybody's going to knowingly buy a car with finance on it?!!!

'D'you want to buy my car? It's £5k, oh and by the way somebody will come and take it off you in a couple of weeks cos I haven't paid the finance off.'

'Yes please!'

Thanks everyone, glad I don't have to hide it.

[ms speed]

Blimy! that must have been a bit nerve racking to say the least.. glad you got it sorted tho, i know when i sold my last car, i had two parking tickets come through in my name 6 weeks after the car had been sold!!

got in contact with them and its because the DVLA take quite a while to process changes now, even when you get your log book through doesnt mean it has all been finalised thier side! stupid ey! :(

[Kenno]

Blimy! that must have been a bit nerve racking to say the least.. glad you got it sorted tho, i know when i sold my last car, i had two parking tickets come through in my name 6 weeks after the car had been sold!!

got in contact with them and its because the DVLA take quite a while to process changes now, even when you get your log book through doesnt mean it has all been finalised thier side! stupid ey! :(

I know, when I part exed my first car I had private plates to get sorted, so I let the garage know to swap the plates back as soon as I'd got confirmation they they were on retention, then one of my mates saw the car with my plates on a couple of weeks later doing about 90 on a 40 mph road. Luckily I didn't get any tickets, but I politely informed the garage that they'd better swap the plates!

[ms speed]

OMG Kenno!!

:o

could have been difficult to explain! err no occifer it wasn't me, i know it was my reg, but its not my car!

hmmm.....

[Blue84]

Phew that's a relief!

[pstones578]

I once bought a car way back when. Had a bump in it and the next day was checking it out on a car park to see what exactly was the damage. There was a CID car on the car park who thought I looked a bit suspicious so they followed me home. They ran a check on my plates and there were two cars on the road with the same plates. Turned out mine was stolen 5 years ago, so I was the innocent buyer of a stolen vehicle (their term not mine). Luckily though because it had been so long since the insurers had payed out they said I could keep the car!