Buying a car with outstanding finance

peterattheboro

peterattheboro

peterattheboro

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24 Sep 2005
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Middlesbrough
A friend has made the mistake of buying a car from somebody who decided not to tell them that finance is owed on the car. I think the sum is around £2000 left to pay on a £6000 car.

She is wanting to sell the car but obviously no one wants to touch her car due to the finance.

What options does she have?
 
Beerbaron said:
im assuming the original owner is not going to or in the process of paying it off
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The original owner was paralised so therefore got rid of the car quite sharpish.

Thankfully his Dad is still paying for the car (but doesn't speak to his son, nor does he know he sold the car) but he's still got a few grand out of the deal, aswell as the compensation for losing the use of his legs.
 
CAB straight away. Is someone still paying off the finance or has someone sent her a demand for the money (being the new registered keeper)?

They can come along and take it at any point and selling it on knowing it has this outstanding finance could worsen the situation for her.

The only way to keep the car hassle free would be to pay that finance or track dow nthe previous owner and hope they are just as stupid and forgot about it.
 
AtreuS said:
She doesnt own the car, the finance company does. :eek:
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Not strictly true - they are owed £2k and the car is worth £6k apparently. So the car could be sold and the balance paid off.

From the OP it sounds as if the finance is being paid off as the father doesn't know the car is sold...
 
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