financed car

[per553]

bought a car cash,then found out the finance company owned 80 percent loan stock of car,this car has gone through two other private owners before me..what can be done..

[Oneeyedvic]

Which country are you in?

[per553]

i am in united kingdom

[Oneeyedvic]

I don't understand what you mean by "own 80 percent loan stock of car".

Either a finance compay has an interest or not - there is no percentage figures. How did you find out if the finance company has an interest?

When did you buy the car, when was the car last sold (by the prior two people).

you probably don't have any issue - you would be classed as an 'innocent purchaser'.

[per553]

the loan stock is where the finance company has an eighty percent interest and the dealer,owns twenty percent..iooks like the dealer,has taken the money for the car,but has not paid the finance,company..then i bought the car from a person who bought it off the dealer(i know its a mess) i only found out last week when i went to put the car in as part ex..thanks for reply,,,,,,,,,

[Oneeyedvic]

If the person you purchased it from can show that he paid for it from the dealer then you have no issue at all. You will almost deinitely be classed as an "innocent purcaser".

If I were you I would contect the person you purchased it from and ask him if he still has proof that he paid for the vehicle ouright (eg receipt or even money going out of the bank).

I would then go to the finance company and explain the full details to them. Ask them to take the vehicle of HPI and to take up their claim with the dealership.

[per553]

many thanks for advice