hire purchase notice of termination?

Question

if you receive a default notice for car finance,and says you are no longer in posseion of the goods with our consent ,and is to be made available for collection who actually owns the car and who is liable for the road tax any one help

the tax runs out at the end of the month but they have not given a date to repossess

Answer 1

The HP company is the legal owner. You are the registerd keeper. The registered keeper is ALWAYS responsible for tax, test, insurance, etc.

Nice try, though.

Answer 2

Well tax always runs out at the end of a month. If the HP company is going to repossess the vehicle you can use it until they do as long as the car tax is still valid. The car ,although registered to you is the property of the finance Co. but there is no requirement of them to tax the car.Once the tax has expired you can renew it if you wish but it might be only a few days till they take the car. They are under no obligation to refund you the car road tax. If you do not renew the disc you must not use the car any more after the end of the month .Have they given a date they are collecting it ? You still have 9 days left this month of the tax.

Answer 3

If you did not pay the repo man will find it and whooosh it will be gone without any chance of purchasing a new car. And your credit will say late pay no pay and repossession. Really bad idea to have let your payments lapse. Get ready with good shoes you will be walking! Hiding the car will mean your in possession of stolen goods (felony) after they get a court order of non payment. If that was a registered return receipt letter they know you got notice. Voluntary surrender of the car shows less bad on credit but still no car finance for you for 2 or 3 years then special financing at super high interest rates.

Answer 4

you have to have repaid over half the finance to get to the stage that if they want to reposess it they have to get a court order, but if you haven't then i think they can just take it