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The UK Hyundai Coupe Site Forum • View topic - Outstanding finance
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 Post subject: Outstanding finance
PostPosted: Fri Jul 10, 2009 12:37 am 
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PostPosted: Fri Jul 10, 2009 5:03 pm 
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oh wow thats interesting to know.

but then, if you buy private - then who cares? I guess you just have to make sure they arent a registered trader selling from home.

i wonder who they will chase now if the previous owner doesnt have the car?


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PostPosted: Fri Jul 10, 2009 5:15 pm 
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the debt is with the person not the car, just because the car was used as colateral when the finance was taken out doesnt mean it's passed on when the car was sold...

if they had wrote the car off the finance wouldnt have been cancelled because the cars gone would it.


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PostPosted: Fri Jul 10, 2009 5:16 pm 
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<slaps forehead>

blonde moment there, yeah of course :o

Although, how comes that if a car is sold with outstanding finance - companies can even try and claim the car of someone else if they have legally boiught it? Surely as soon as the V5 form is signed then thats that?


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PostPosted: Fri Jul 10, 2009 5:24 pm 
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didnt say they wouldnt try... they will often try the "the owner was not legally allowed to sell the car therefore they havent, so you have to take them to court for that and we'll take the car."

personally I think if you get a car on hp, you shouldnt have the v5 or there should be a different "keeper only" v5 for the person till it's paid off.


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PostPosted: Fri Jul 10, 2009 5:26 pm 
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hmm yeah true. But that could get awkward in different circumstances.....


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PostPosted: Fri Jul 10, 2009 5:30 pm 
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anything to do with money and legal issues WILL get arkward.


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PostPosted: Sat Jul 11, 2009 4:13 pm 
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PostPosted: Sun Jul 12, 2009 12:56 pm 
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