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Car finance & deceased loved one


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Hi

 

I'll try to keep this short.

 

Family member took out car finance which is one of these deposit, finance over x years then final balloon payment or return the car type things.

 

it's about a year into the finance and the family member has just died.

The car manufacturer are being awkward they've come up with the following suggestions:

 

One of us take the car on (no way!).

Clear the finance keep the car, they want £17k.

Sell the car (I thought we couldn't as it'll be HPI logged) car is not worth outstanding finance by about £5k.

Pay the difference to reach 50% of finance & return the car.

 

During this time they've put in writing that the finance should still be paid :o

 

I'm saying no its your car come & take it away. There's no money in the estate as such.

 

Also would I be right in thinking if we did sell it would the money not have to go into the estate and be divided up against all creditors or would it exclusively go to the manufacturer?

 

Any advise gratefully received.

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who is this?

muppets

its their car come get it muppets

the estate is insolvent..

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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all debts would have to come out of the estate they would have to make a claim against the estate if it does not have any money then tough the debt dies with the deceased until it was a joint application . Also my condolences sometime companies can be real nasty as I have had to go through this a few months ago

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You need to check exactly the type of agreement used for the finance...some you can sell as they are a type of personal loan and not HP....and the vehicle would be an asset to the estate.

 

Andy

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It's Citroen's finance house, they've been totally awful.

 

Thank you for confirming my thoughts on the matter.

 

It's some kind of lease deal as it's deposit, £400 a month plus huge balloon payment at the end some I'm 99% sure the car is "theirs".

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They all require deposits..... Hire Purchase/Personal Loan/ Personal Contract Plan...but until you look at the actual agreement...difficult to answer your post.

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHER

 

Have we helped you ...?         Please Donate button to the Consumer Action Group - The National Consumer Service

If you want advice on your Topic please PM me a link to your thread

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Not true

you wouldn't have a deposit using a personal loan which this isnt.

 

It's one of their Elect products it looks like PCP to me and fits with the balloon payment

which again with other methods you wouldn't have the Huge balloon payment at the end.

 

They've got back to us today,

they've agreed to stop being silly & come collect the car

and they're saying there's an excess to pay of around £4000

which they've tried to imply my relative owes

 

but of course it's a bill to the estate and what with loans, credit cards etc it'll get added to the pile

and there's only about £1000 cash and no assets

(other than car & that's now going) so they'll get a % along with everyone else.

 

Fingers crossed all goes to plan

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