Previous owner still has finance on my car!

[skeeterm5]

GC8 said:

I apologise. I hadnt read the OPs post properly.

Cool

And back to the OP, just because HPi shows an interest in the vehicle it doesnt necessarily mean that there is actually finance outstanding. Could be a simple admin error on their part.

Suggest you press the supplying dealer to try and sort out in the first instance.

S

[hornetrider]

GC8 said:

I apologise. I hadnt read the OPs post properly.

Humble pie on aisle two please!

[Scotty2209]

skeeterm5 said:

And thats where your mistake is - the op purchased from a DEALER and hence this protection is voided in the original transaction.

S

what about the next point in the hire purchase act?

(3) Where the person to whom the disposition referred to in subsection (1) above is made (the “original purchaser”) is a trade or finance purchaser, then if the person who is the first private purchaser of the motor vehicle after that disposition (the “first private purchaser”) is a purchaser of the vehicle in good faith without notice of the relevant agreement, the disposition of the vehicle to the first private purchaser shall have effect as if the title of the creditor to the vehicle had been vested in the debtor immediately before he disposed of it to the original purchaser.

the first person to buy the car who is a private purchaser (not a motor dealer?) is still covered? probably wrong saying that though!

[daz3210]

So basically do I read that as, if you don't know about the finance agreement you gain title of the vehicle even though finance is still outstanding?

If so:-

1. What is the point in doing HPI?
2. Are finance agreements worth the paper they are written on from the point of view of security to the lender?

[blade7]

Scotty2209 said:

skeeterm5 said:

And thats where your mistake is - the op purchased from a DEALER and hence this protection is voided in the original transaction.

S

what about the next point in the hire purchase act?

(3) Where the person to whom the disposition referred to in subsection (1) above is made (the “original purchaser”) is a trade or finance purchaser, then if the person who is the first private purchaser of the motor vehicle after that disposition (the “first private purchaser”) is a purchaser of the vehicle in good faith without notice of the relevant agreement, the disposition of the vehicle to the first private purchaser shall have effect as if the title of the creditor to the vehicle had been vested in the debtor immediately before he disposed of it to the original purchaser.

the first person to buy the car who is a private purchaser (not a motor dealer?) is still covered? probably wrong saying that though!

This is my understanding of the situation, even if Bill of Sale is involved, doesn't mean you wouldn't have to go to court to get the finance interest removed perhaps.

[GC8]

Thats my understanding too, but Im not sure about Scotland and Im not confident enough to argue that here, as examples are far, far less common.