2007-10-03 23:16:53 · 8 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
it really depends on how you brought it.. if you brought it privately then it is still the property of the finance company and if the previous owner has stopped making payments to the loan then the finance company can reclaim it.. no arguments... If you brought it from a dealer you may have more of a chance of keeping the car.. you just got to hope the previous owner is still keeping up with his/her payments
2007-10-03 23:25:56 · answer #1 · answered by Paul 5 · 0⤊ 0⤋
Contrary to what Mrsclaura said, you are NOT the legal owner, the finance company is and can reclaim the vehicle whenever they want to. You must get your money back from whoever you "bought" it from, since it wasn't theirs to sell.
You could end up losing the car and the money you paid.
2007-10-04 06:40:39 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I am not in Scotland, but I doubt things are differant there.
The bank owns the car and holds the "pink slip" (OK, maybe not pink in Scotland), and therefore the purchase you made was not a legal purchase.
2007-10-04 07:34:01 · answer #3 · answered by Anonymous · 1⤊ 0⤋
The car belongs to the finance company. If you contact them they might let you continue paying. But you've already paid someone else for it.
Whoever sold it to you has robbed you. Contact the police but I doubt if you'll ever see your money again.
2007-10-04 06:42:29 · answer #4 · answered by Anonymous · 0⤊ 0⤋
thats a tricky one because legally you are the cars owner but the finance won't be in your name so you shouldn't have to pay it. the car should not have been sold with outstanding finance on it you usually have to sign a contract saying you won't as if there is money owed to a company for the car the car still belongs to the company. i would phone the finance company and DVLA to see where you stand
2007-10-04 06:28:55 · answer #5 · answered by mrsclaura 3 · 0⤊ 3⤋
And the reason you didn't run an HP check is.....??
Legally you don't own the car. Your claim is against the seller. If you can't locate the seller or recover from him or her, you'll have to make arrangements to clear the HP out of your own pocket. Sorry.
2007-10-04 08:25:20 · answer #6 · answered by Bostonian In MO 7 · 0⤊ 0⤋
It belongs to the finance company,get in touch see if you can take payments on.
2007-10-04 06:25:09 · answer #7 · answered by Anonymous · 0⤊ 0⤋
u said it urself.. u stand on Scotland
2007-10-04 06:23:53 · answer #8 · answered by SwtDreamsNoob 1 · 0⤊ 2⤋