Finance agreement against car

rgs_ncfc · 1st June 2009, 17:42

Hi folks just signed up to get a bit of info. here's my situation...........

Before i bought my car i did a HPI check on it and it stated that it had an outstanding finance agreement against it.

I then followed it up and rang the finance company. They told me that the agreement had been settled, as if it hadn't, obviously i wouldn't have gone ahead with the purchase.

Nearly three years later i am now looking to sell it and have found a buyer. Today the buyer rang me and said the car STILL has finance against it.

I've just rang the finance co.(Black Horse) and they are now saying that it is not settled and still have the car on their records. They will not give me much information, such as - how much left to pay, as it's confidential. I'm not saying they havn't been but, surely if they weren't paying it off i would have heard from them before regarding some sort or repossession?

For the life of me i cannot remember if i asked about this with the person i bought it off, but what i do know is, if i wasn't completely satisfied that everything was above board then no way would i have gone ahead with the purchase. Where do i stand?

Many Thanks, Rob.

rgs_ncfc · 1st June 2009, 19:07

With reading other peoples situations, could this car be a guarentee against some loan they have took out? Help!

Conniff · 1st June 2009, 22:33

Write to the finance company recorded delivery and ask for the information. Also write to the last owner (again recorded) and ask him if there was any outstanding finance.

You will be able to clear this up as it was bought in good faith and on an assurance from Black Horse that there was no finance outstanding. It may take some time however.

When you have further information or any more question, come back again.

1st June 2009, 17:42	#1 (permalink)
rgs_ncfc Basic Account Holder Protect your signature with SignGuard Cagger since : Jun 2009 Posts: 2	Finance agreement against car Hi folks just signed up to get a bit of info. here's my situation........... Before i bought my car i did a HPI check on it and it stated that it had an outstanding finance agreement against it. I then followed it up and rang the finance company. They told me that the agreement had been settled, as if it hadn't, obviously i wouldn't have gone ahead with the purchase. Nearly three years later i am now looking to sell it and have found a buyer. Today the buyer rang me and said the car STILL has finance against it. I've just rang the finance co.(Black Horse) and they are now saying that it is not settled and still have the car on their records. They will not give me much information, such as - how much left to pay, as it's confidential. I'm not saying they havn't been but, surely if they weren't paying it off i would have heard from them before regarding some sort or repossession? For the life of me i cannot remember if i asked about this with the person i bought it off, but what i do know is, if i wasn't completely satisfied that everything was above board then no way would i have gone ahead with the purchase. Where do i stand? Many Thanks, Rob.

1st June 2009, 19:07	#2 (permalink)
rgs_ncfc Basic Account Holder Protect your signature with SignGuard Cagger since : Jun 2009 Posts: 2	Re: Finance agreement against car With reading other peoples situations, could this car be a guarentee against some loan they have took out? Help!

1st June 2009, 22:33	#3 (permalink)
Conniff Gold Account Holder Worried about your signature being copied onto CCAs etc? Use SignGuard Cagger since : Mar 2007 I am in: the computer room. Posts: 5,928	Re: Finance agreement against car Write to the finance company recorded delivery and ask for the information. Also write to the last owner (again recorded) and ask him if there was any outstanding finance. You will be able to clear this up as it was bought in good faith and on an assurance from Black Horse that there was no finance outstanding. It may take some time however. When you have further information or any more question, come back again.