the fianance company have come and taken it from me today how do i stand with regards to the law as i knew nothing about the finance when i purchased it
2007-08-01 07:07:47 · 13 answers · asked by boo 1 in Business & Finance ➔ Renting & Real Estate
in some countries it's called a ( lien ) the person that sold it to you would be in a illegal situation.
2007-08-01 07:15:48 · answer #1 · answered by Julie 5 · 1⤊ 1⤋
Unfortunately anything bought under a loan agreement remains the property of the loan company until the account is settled in full. The person selling the landrover would also know this. You could go to the small claims court (enquire at your local magistrates clerks office) the offender could be given alternatives of how to pay back the money to you. However, be careful of private court action as this can invariably cost you more than you lost.
For future reference, always insist on an hpi check in future then you wont get caught out.
Good luck
2007-08-01 15:40:18 · answer #2 · answered by Anonymous · 0⤊ 0⤋
go to a law centre or some solicitors who will give you advice free on an initial consultation (many do)
The finance company have to work within the law and if they resell the land-rover at a profit you maybe entitled to some sort of reimbursement but its doubtful, but try, don't just give up because people on this site say you should.
2007-08-01 14:42:13 · answer #3 · answered by inthedark 5 · 0⤊ 0⤋
oh, there's no doubt the previous owner defrauded you.
recovering means suing him, and as someone already said "good luck" -- because such people usually can't be found and don't have any money.
next time, you will be careful, won't you?
painful lesson, i know
btw, where was this? seller's actions were likely a cirme as well and the police will be interested. Won't get your money back and a nice stretch in goal might be good for that lad and help you fell better as well.
:-)
2007-08-01 14:16:24 · answer #4 · answered by Spock (rhp) 7 · 0⤊ 0⤋
When you purchased the car you are liable for whatever charge occur past or present. If the old owner did not notify you of the past charges that were not paid you can take him to court because that's illegal. Consult a lawyer promptly do not wait until collection agencies come knocking at your door.
2007-08-01 14:13:21 · answer #5 · answered by Peter R 3 · 2⤊ 0⤋
as said before small claims court.. hopefully it wasn't a lot of money. If it was , always check the cars status..
as cars that have been sold are right off's / ringers / clones / on finance..
the credit check on the car would have saved you a bit of money. yer it does cost, but i would have left a small deposit, got the check done.. then get your money back and then report them to the finace company if they wanna be so snide.
2007-08-01 14:18:32 · answer #6 · answered by junglejungle 7 · 0⤊ 0⤋
Caveat Emptor
2007-08-01 14:10:47 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Sounds like you may be in the UK, but in the US, You are responsible for any lien on the vehicle once you've taken possession of the title.
Failing to have a lien search done (available from several sources) BEFORE you bought the vehicle is risky (and has, in your case, proven to be VERY risky.)
2007-08-01 14:16:10 · answer #8 · answered by talldude 3 · 2⤊ 1⤋
Heard of HPI? thats what you should have used before you bought it. You could try suing the previous owner but I think it would be a waste of time
2007-08-01 14:10:50 · answer #9 · answered by Anonymous · 1⤊ 1⤋
you will have to report the seller and take him to a small claims court to get your money back, the finance company should be able to assist you with this...
2007-08-01 14:14:31 · answer #10 · answered by rsrobboman 1 · 1⤊ 1⤋
well its your own fault for not checking if there was any outstanding HP on the car before you bought it. when a car is sold and there is still outstanding HP the person who buys the car also inherits the HP. unlucky
2007-08-01 14:21:59 · answer #11 · answered by Anonymous · 0⤊ 1⤋