Thread: son has purchased a car with hp unaware he used me as Guarantor can i stop it

Do you know where he bought the vehicle from as this would be a good starting point, it is likely the showroom would have organised the finance.

Also I am guessing that for you to be guarantor the finance company would have searched your credit files, so an online check of these is maybe another way of finding out who the finance is with.

Good Luck - let us know how you get on.

I don't know about the HPI check.

Usually vehicles have a sticker of some sort saying where they were bought from.

For an online check you need one of the credit reference agencies, equifax or experian. I am only guessing that your files would have been searched.

Alternatively have you asked your son for the information you need? How did you find out he had used you as a guarantor?

Ok, so find out from him the name of the gagrage, contact them, explain the situation, see what they say. If they have any sense, they'll cancel the sale, knowing that your son can't afford to pay for the car, and that if they try to enforce against you as guarantors, they won't get very far when you can prove that you knew nothing about it.

You might first want to find out from your son HOW you became guarantors, did one of his mates help? What? You need to know so you can discuss the facts with the garage.

Surely you have to sign the agreement to be a guarantor?

If not them I'm off to buy something and going to put Gordon Brown as mine.

You say he 'just bought' the car and then lost his job the next day - how long ago was this? You can cancel an HP agreement if you do it within a certain tmiescale

Originally Posted by kabukiman

The only way to get out, as I see it is to report it to the police as fraud.

That would be up to the garage or Finance Co when they discover the son lied about who was acting as guarantor.

In my experience, when someone acts as guarantor, they produce photgraphic ID and sign the guarantee in person, which is then witnessed.

I wonder if the garage was possibly in colusion, ie they were happy to make the sale and fill in paperwork, and just hope it was all ok.

Please keep us informed as to your progress.

How old is the boy?

I may be wrong but is it possible that he has drafted someone in to pretend to be you? I can't see that any car dealership would accept a verbal agreement without seeing someone in person. If this is the case and someone has fraudulently claimed to be you then this should be very easy to sort out.
Would it be possible for you to go to the garage directly? If you have been approved as guarantor then you should have full DPA access to discuss finance. Also worth checking the paperwork, most loans have a 28 day cancellation period.

Also just another point, without wanting to scare you for someone to act as guarantor I was under the impression that a second set of bank details would be needed. I may be wrong it's just a thought.

Hope it all gets sorted out.

Having used a Guarantor once, many years ago, I recall that the Guarantor had to sign a document called "Form of Guarantee".

Your son saying "my Dad will guarantee the loan" is not sufficient. To be a guarantor it is you who has to say "I will guarantee this loan"

It appears that the credit agreement may well be fraudulent .........

Have had a look into this and by law the acting guarantor would have to sign finance documents and a DDEB mandate, as well as producing ID and being present at Car Garage.

Are you any further in solving this?