if a car is on HP and sold to a dealer and no finace shows on the car and monthly payments are kept can jail?

Answer 1

If a car is on hp, it belongs to the finance company until is is paid off. You cannot legally sell something which doesn't belong to you. The fact that there is outstanding finance should show up on a HPI check.. I guess that it will depend on how much is outstanding as to whether the finance co. if they find out that their property has been sold without their permission, decide to prosecute. I doubt that there would be a jail term involved but you never know, rapists and such get a slapped wrist and so called white collar crime is severely punished in this country.

Answer 2

Until the finance has not been fully settled, the car remains the property of the finance company. This is most likely going to show up on any Car Data Check (e.g. HPI http://www.hpicheck.com). Only when the balance has been fully settled, the finance company will remove this from the database and the car will become your property.

If you do not keep up the monthly payments then this will also go against your credit history and you will probably get lots of phone calls and visits from debt collectors.

If do you keep up the payments after you sold the car then it will be tricky to predict what is going to happen as technically the car is still property of the finance company.

You might want to look at settling your HP agreement early [--> The Consumer Credit (Early Settlement) Regulations 2004] which will be cheaper than continuing the payments as you will not be paying interest.

Answer 3

You are prohibited from selling a car you are purchasing on HP without the prior consent of the credit company. The car does not become yours until the option to purchase has been paid. It is also the security against which the credit company has loaned the money to you in the first place. You definately could be in serious trouble. Remember all car records are on computer now so it is not impossible for you to be found out.

Answer 4

The vehicle that you bought ,on HP,
does not become your property,
until you have completed the full payment.

So you are selling something ,that is not rightfully yours ;
and you can be prosecuted for this.

also for fraudulently , not not admitting it is a HP car .

+++( if the HP company find out , They will sue you...
for the full balance + interest NOW )

do not attempt this, it will land you in big trouble .

Whether you go to jail or not, is for the courts to decide .

Theft and fraud is not , what you need on your record .

I hope this helps
>^,,^<

Answer 5

The debt is yours - you are obliged to pay it, or risk prosecution. It doesn't matter what comes up on a record - your name is on the HP agreement, and that remains enforceable even after you sell the car.

Answer 6

at present, once you're procuring a vehicle in any respect, they ought to welcome you with open fingers. Do your analyze first at abode, on-line. Make your decision on which sort and what trim you want, with already a cost bracket in thoughts, earlier you bypass in to make your deal. a lot of sellers received't evaluate a commerce-in an advantage, highly in case you realize what it really is fee is. they many times will opt to grant you $.sixty 5 on the dollar, and that is on automobiles that they can certainly re-promote. you need to opt to promote your vehicle one after the different. In my adventure, once you tutor or in case you tutor your hand isn't significant. it truly is extra significant that you walk remote from a foul deal or in the journey that they received't grant you with the deal that you imagine you may certainly get. in case you already crammed out training to deal, they maximum probable will call you a pair days later, to attempt to paintings out a extra perfect deal (for you). once you've different sellers round the position you stay, do not hesitate to in common words get up and walk away, highly in the journey that they reported they went to recent your deal for approval with the great boss, yet look taking always.

Answer 7

The "Car" is still the Property of the "Lender" of the Money used to Purchase the Car to dispose of it to a third Party is Illegal and Fraudulent --- Beware -- it is a SERIOUS OFFENCE

Answer 8

I doubt you'd be sent to jail but the car would be returned to its rightful owner if payments wern't to be kept up. If you keep paying I doubt they'd even find out xxx

Answer 9

its illegal to sell a car that on hp, just my dad, he did it! be warned

Answer 10

It could come up at any time and it's best not to risk it.