car finance

[sutty100]

I have just purchase a car and found out that it has outstanding finance on it.Can I get legal ownership of the car while their is outstanding finance?

[Mrs_Pegasus]

I honestly dont think you can unless you are prepared to settle the outstanding amount. How did you find out about the finance?

[Carby]

Only a complete IDIOT buys a car with finance on it.

[PFA]

Hi Sutty

Simple ans:- NO

The finance company owns it till it is setteled in full - you could always pay the reminder.

I woudnt buy one with fin tho!

[Didwot]

Legally if the person who sold the car to you was buying it under a conditional sale agreement (and not just leasing it) and you bought it in good faith without notice of the finance then you get good title to it (section 27 Hire Purchase Act 1964 as amended by the Consumer Credit Act 1977)

[yummymummy]

Would agree with didwot, the first innocent buyer after the person who is named on the finance agreement can gain title (ownership) of the vehicle. Note that if you bought it from someone and it was the person that THEY bought it from who had the finance, then they and not you will be the first innocent buyer so they would more than likely get title, and then could pass to you.

I would suggest writing to the finance company involved mentioning the Hire Purchase Act and explaining the situation and asking for title to be passed to you.