Bought a car with outstanding finance.

[Lauren123]

Hi, I'm just wanting some help.
I purchased a car and have now found out it has a outstanding balance. I have recieved a questionnaire to fill in from the finance company.
What will happen now, where do I stand?

[scorcher]

Lauren123 said:

where do I stand?

At the bus stop if they repossess it!

[Lauren123]

So they can come and repossess it. Even if I bought the car in good faith?

[anonymous-user]

Lauren123 said:

So they can come and repossess it. Even if I bought the car in good faith?

I'm sure you already know the answer to this

[Lauren123]

Not really not I'm looking for some advice. I know I bought the car in good faith but what happens after the questionnaire?

[Jonno02]

If you're in Scotland and bought it in good faith, you keep it. If not...then it might not go your way.

[Lauren123]

I only know about buying in good faith by reading on forums. I am in England not Scotland??

[Butter Face]

Why didn't you HPI it? Schoolboy (girl) error number 1.

[Lauren123]

I'm a women. I've never bought a car before so wasn't aware of this until a friend showed me after and when I did it (after I bought the car) it came back outstanding finance. Phoned the company they've sent me a questionnaire to fill out. I just want to know what will happen next. As anyone been through anything similar?

[Jonno02]

Lauren123 said:

I'm a women. I've never bought a car before so wasn't aware of this until a friend showed me after and when I did it (after I bought the car) it came back outstanding finance. Phoned the company they've sent me a questionnaire to fill out. I just want to know what will happen next. As anyone been through anything similar?

You'll need to phone the company. All finance companies are different.

[Lauren123]

I have done But can't really tell me anything except send me a questionnaire to fill in.

[Wilmslowboy]

First things first.

Do you have valid address and contact details of the seller ??
Was it a private sale or purchased from a dealership ?

Notify the seller that the car has come up as having outstanding finance - admin errors do occur.
The seller may have planned to settle the finance , and its just a case of timings.(I know this might be wishful thinking).


Do you know how much is outstanding - sometimes there can be residual admin fee (again wishful thinking).


If there is large amount outstanding, the finance company will follow the easiest path to get their money back - regardless of the hardship caused. In this case it will be to "collect" the car from you...so it might be useful to be mindful what you share with them ..you will probably find they ask you lots of questions but are not willing to disclose anything to you.

[Lauren123]

I have the contact details address from where I purchased and name phone number. It was a private sale. I do not know how much is outstanding is theyre any way of finding out as they cannot tell me. It is not a brand new car and cannot be worth thousands.

[Wilmslowboy]

contact the seller ASAP - and ask him to contact the finance co and fix their error (or settle the finance if he hasn't already done so)

[Lauren123]

He has blocked me from phoning messaging etc.. can not contact him. I just want to be reassured they can't take it from me

[imdeman87]

Yes, it may be repossessed.

Not an identical story but it may be of some help: http://www.pistonheads.com/gassing/topic.asp?h=0&a...

How much is the car? Did you meet the person in/at their home? i.e. is the address they've given you genuinely theirs?

If they've blocked your number then it may be worthwhile visiting them in person, with a family member(s).

[Lauren123]

It's a seat leon 56 1.9tdi nothing spectacular. Yes I think it was his home I went to.

[DaveH23]

Lauren123 said:

He has blocked me from phoning messaging etc.. can not contact him. I just want to be reassured they can't take it from me

Sounds like he knew exactly what he was doing then.

The car wasnt his to sell so i'd imagine unless he settles the finance then they will be taking it from you.

[Lauren123]

I have spoken to the finance place and they said they need to investigate so need as much info as can from me. I've filled it in with everything I can and need to send it back. I will not be letting them take the car as I'm not loosing out. Thanks for help anyway

[dxg]

Just remember that you haven't bought a car. You've just given someone a bunch of money.

Have you reported this case of fraud to the police yet?