STRESSING OUT! FINANCE PROBLEM HELP

[hafizur95]

Hey people im a newbie here with a BIG problem.
Bought a corsa recently, with it being the second car i own. Bought the car off my uncle as he no longer wanted it and he was selling it for a good price.
Couple months later both my cars (corsa and vectra) were involved in an accident whilst they was parked a few weeks back. Both on the same insurance. Claim was done against the ladys insurance (the lady that hit both my cars). Both my cars are written off also.
So, i was told how much i would get for my vectra and how much i would get for the corsa. Was happy with that because i got good prices for both cars... BUT i was told my 52 plate corsa has outstanding finance. 4k was outstanding however, obviously, i would not be paying 4k instead i would lose the money for my corsa for no reason as i am 100% innocent.
So i thought the previous owner must have something to do with it, but not my uncle as he said he had no idea and he is certain that the owner before him might have something to do with it.
We know exactly where the suspected person that sold the car to my uncle lives.

Is there anything at all i can do from losing money? could i do anything legally against that suspected person for selling a car whilst its on finance?
Also would this finance problem affect my insurance premium next year?

Any help would be so helpful! Thanks

[hafizur95]

i havent HPI'd it yet. Will give it a shot though.
But would insurance not have found that out? as they HPI check the car before processing any claim, thats how they found out that it had outstanding finance? Unless im wrong please do explain.

[hafizur95]

Well theres not much he can do because he is as innocent as i am.
Im just so confused that this 11 year old car still has finance on it.
Wouldve thought the finance company would have tracked down the person that owed 4K!

Forgot to mention insurance has also said that the soliciters will try and negotiate with the finance company proving that im innocent and they might just let it go? what are the chances of this? if anyone has experienced this lol

It is actually quite a scene lol

[hafizur95]

mybrainhurts said:

Who told you there's finance outstanding?

My insurance company told me its still on finance and has outstanding finance of 4K left on it

[hafizur95]

You have all been great trust me.
But like someone said its probably not worth the hassle, and i probably will just make a loss.
Will let you know on this thread what happens though.

[hafizur95]

ryanjohnstott said:

If the finance company don't believe that you are an innocent purchaser then you would have to take them to court and hope that the court does find that you were indeed an innocent purchaser.

Surely i am an innocent purchaser as they know im not the person that financed the car in the first place?

[hafizur95]

Little Lofty said:

Trading standards say:
The Consumer Credit Act 1974 gives 'good title' to the innocent private purchaser of a vehicle that later turns out to be subject to a claim by a finance provider. This means that if the previous owner sold the vehicle to you when there was finance outstanding and you were unaware of this, the finance provider cannot repossess the vehicle from you. Remember, this does not apply to vehicles that have been stolen, or vehicles that were subject to a lease or hire agreement.

thats some good stuff by the way ! might come in handy thanks

[hafizur95]

Deva Link said:

It's entirely possible that the original borrower was still making the payments.

OP: How long had your uncle owned the car? I thought the Consumer Credit Act protection only applied to the first innocent purchaser. It'll look dodgy if your uncle only owned the car for a short period.

he did own for a short period, but that was due to his insurance cancelling after a month or so after he purchased the car. the cancellation was due to him not giving in his correct conviction details (which was not his fault as at the time because he sent his paper part to DVLA to get a new licence card, i know i know he shouldve waited until he got the paper part but you know) So he put it up for sale and asked me he would give me a good price for it. Little did i know that the car was bloody trouble !

Anyways my insurance took a copy of the logbook (dont know what they would do with that) but fingers crossed lol...