money oweing on car

[garysnow959]

i brouht a car not knowing it has money still outstanding on it but it has had 5keepers since the loanwas taken out how do i stand thanks

[Hammer]

Google for 'HP Innocent purchaser'

The gist of it is that you should be fine, and the finance company have to chase whover took out the finance, not you.

[spaced]

mmm, actually the finance company can request the outstanding balance from you or any of the owners. That is why when purchasing a vehicle you should always HPI it and ask the finance company to confirm in writing that the vehicle has "no interest", which means no outstanding finance.

Obvioulsy you will contest in paying the finance as its the the original owner's finance, but you may find some difficulty in this situation. good luck.

[PhilBy]

Hire Purchase is just that! The vehicle is only on Hire untill the final agreed payment has met, the final payment including a small fee for the Purchase of the vehicle. So this car still belongs to the finace company, unless it is a very expensive motor you should have nothing to worry about, (Don't take my word for it though)! the finance company will put the original owner on a credit black list and pass on any personal information held on to a debt recovery firm.

[keraan]

If the finance is secured on the car then you are liable