Capital Bank Car H.p Or Not??

[walsh41]

hi everyone hope someone will be of help ive been looking about and i think am onto a loser but here goes anyway my girlfriend has a car but is hoping to voultary terminate her contract but can she she has paid 30 moths of a 60 month agreement and over £8000 pounds ive attached scans of the agreement hoping someone can give me any advice

 

thanks john

[cerberusalert]

Can you upload them to TinyPic - Free Image Hosting, Photo Sharing & Video Hosting & copy and paste the URLS back here? Thumbnails are too small to read.

[walsh41]

here we go!!

[walsh41]

sorry here we go lol

 

[walsh41]

ive posted the wrong company its capital bank

[walsh41]

anyone had a look am looking to phone them 2moro could do with a few pointers of what to say

[walsh41]

Is there no1 that can help??

[walsh41]

phoned them they said its not a h.p agreement but a loan i asked whether i could sell the car and they said yes,,but its on the h.p.i register so whos buy it?? is there anyway out of this mess??

[cerberusalert]

I've asked someone else to look at this when they come online.

[walsh41]

[cerberusalert]

I've left a message with someone else to have a look for you, he's been offline a couple of days but I think he's back this weekend.

[postggj]

Evening All

 

Been Asked To Drop By

 

You Have A Loan Agreement To Buy A Vehicle

Its Not Hp, You Are Able To Sell It

 

Cant See Why Its On The Hp Register, Have You Asked Them To Remove It From The Register And What Was There Reply.

 

What Normally Happens Is The Finance Company Will Give You A Letter Giving Authority To Sell The Vehicle

 

You Cant Vt As Thats For A Hp Agreement

 

You Can Sell They Car And Pass The Funds Onto The Finance Company If You Want

 

Has The Finance Company Put Up The Shutters

[loobyloo85]

I have also had a look at the agreement, and it is a Fixed Sum Loan agreement, which means this was an unsecured loan taking out to purchase the vehicle. The loan is not secured on the vehicle, and it is not a HP. Therefore, this would be a normal unsecured debt. They cannot repossess the vehicle.

A lot of companies make out that the agreements are secured, to get the full repayments from you, but a lot of the time, the full payments are not needed as the car cannot be taken anyway

[walsh41]

checked its not on the hpi list so gunna sell it and clear her loan do you reckon they would take an offer do you know anyone who has done it? coz the car is worth £6k and the outstanding balance is £7k