Bought a van that has previous finance on it

[junior19]

l bought a van about 6 months ago that was advertised in our local paper and when l went to see l noticed it was ex royal mail, anyway l bought the van. Now 6 month on l received a letter from a finance company telling me the van has finance on it and they may still have an interest in it.

How do l stand with regards to this as l paid cash for the van and didnt know it still had finance on it, l stay in Scotland.

Any help would be gratefull

junior

[dx100uk]

if you are in scotland [residential?] there's nowt they can do about it.

 

dx

[junior19]

What should l do regarding the letter the finance company sent me?

junior

[dx100uk]

nothing, was the letter addresses to a scottish AD?

 

if you wish, as i did

you can fwd any detalis you may have that would help them in their investigations but there is nowt they can do to you or the van.

 

dx

[junior19]

Yes letter was posted to me at my address in Scotland where l live. l had no idea the van had finance on it as l had never seen the van before l had seen it advertised in the local paper.

Getting that letter had got me worried that the van was going to get repossessed from me as l had done quiet alot of work on it.

junior

[postggj]

an ex royal mail van with finance on it

 

may i ask what the milage is on the van and year (reg)

[junior19]

Sorry parcel force 04 with 140,000

[postggj]

who is the finance co

 

all royal mail vehicles go to auction after service

 

may i ask how much you paid

[junior19]

Lombard was who l got the letter from and it was a private seller l bought it from who said he worked for parcelforce, the van had all the signwriting on it. Id rather not disclose how much l paid for it but it was around about market value.

junior

[postggj]

all signwriting is removed prior to sale

have you the previous owners details on the v5

[junior19]

Yes l do, and l can asure you there was signwriting on the van when l got it. Could it be he was a contract worker or something, l dont know. To be honest i'm not really concerned about the parcelforce its the finance company that bothers me.

junior

[dx100uk]

well they cant do anything to you as you are in scotland

there are no repossession laws in scotland

 

however, like postggj it is puzzling why it 'had' been on finance and still has the signage.

 

but dont worry anything is going to happen to you, it wont..

it would do you no harm to liase with the letterwriter to assist them.

 

mine turned out to have cloned number plates!

 

dx

[junior19]

I have just spoken to my brother who was with me when l bought the van and he said the guy told him that it was his own van and he was some sort of sub contractor for parcelforce. He didnt remove the signwriting. He had just bought a new van and it was going away to get the signage done on it.

How will this affect me in the future if and when l come to sell it?

junior

[postggj]

ok

 

now i see

 

a few years ago parcel force made every one go self employed

 

the staff bought a franchice of the business for £30,000

they got the van and were paid on the amount of parcels delivered

 

the van was prob in the finance deal for the franchise

[cctv engineer]

Yes l do, and l can asure you there was signwriting on the van when l got it. Could it be he was a contract worker or something, l dont know. To be honest i'm not really concerned about the parcelforce its the finance company that bothers me.

junior

 

 

 

Hi. did you do a HPI on the van ??? the thing you have to look at is. was the finance done in scotland or england. if it was in england then yes they can take the van. one good thing is lambard are a good company to deal with (not sharks) and they will help you. have you talked with the guy you have bought it from. see how much he owes lambard. and also check with lambard if the guy has is new van fianced with them.

[junior19]

No l didnt do hpi check. No l havent spoken to him yet(feel like killing him) but no doubt l will in near future. Was going to be speaking to lombard tomorrow to see what they will tell me as l just got letter yesterday. Was feeling alright about it but not so sure now. What can l do to help get out of this mess, is it right i'm ok in Scotland or am l in the brown stuff?

thanks for all the replies

junior

[cctv engineer]

No l didnt do hpi check. No l havent spoken to him yet(feel like killing him) but no doubt l will in near future. Was going to be speaking to lombard tomorrow to see what they will tell me as l just got letter yesterday. Was feeling alright about it but not so sure now. What can l do to help get out of this mess, is it right i'm ok in Scotland or am l in the brown stuff?

thanks for all the replies

junior

 

 

lambard are a very good company so dont worry there. if you tell them what work you have had done to your van and all your costs. most of the time they will take offers (start very low) but remember if everything was done in scotland you will be fine. here is some reading for you, http://www.opsi.gov.uk/RevisedStatutes/Acts/ukpga/1964/cukpga_19640053_en_1#pt1

[junior19]

To be honest that bit reading is totally alien to me didnt understand a lot of it.

What will be my position if any of the finance agreement was done outside Scotland? What if the van came from outside Scotland lkie a garage in England?

I'm bricking it now cause l thought l was ok being in Scotland. I wouldnt have thought there would be much finance left on it after 6 years but l could be wrong.

junior

[cctv engineer]

To be honest that bit reading is totally alien to me didnt understand a lot of it.

What will be my position if any of the finance agreement was done outside Scotland? What if the van came from outside Scotland lkie a garage in England?

I'm bricking it now cause l thought l was ok being in Scotland. I wouldnt have thought there would be much finance left on it after 6 years but l could be wrong.

junior

 

 

 

with you being in scotland you will have protection under what is called scots law. and you only need to talk to lambard about this.

lambard are not like other finance companys were they send bailifs to your door. just call them tomorrow and talk with them. all as they might need from you is the last guys address. but until you have spoken to them its hard to know what direction to go.

 

let us know how you get on with talking to them.

[dx100uk]

you will find them a very useful company

 

they helped me out no end with legalities surrounding my cloned van issue and sorted all the legal stuff foc.

 

doesn't matter either where it was financed, you'll be ok

 

dx

[junior19]

Spoke with Lombard today and they said that they could take the van back.

Lombard wanted to know how much l paid for the van after l gave them the previous owners details, they also gave me the previous owners telephone number which l didnt have but they seemed alright after l gave them price l paid for van.

l phoned the previous owner and got his wife who was apoligetic and tried to assure me that there wasnt any finance on the van and that Lombard just needed to confirm selling price of the van as they were getting a percentage of the selling price.

Does really make a great deal of sense to me as l dont know how these finance companies work.

Does this lot make sense at all?

junior

[cctv engineer]

Spoke with Lombard today and they said that they could take the van back.

Lombard wanted to know how much l paid for the van after l gave them the previous owners details, they also gave me the previous owners telephone number which l didnt have but they seemed alright after l gave them price l paid for van.

l phoned the previous owner and got his wife who was apoligetic and tried to assure me that there wasnt any finance on the van and that Lombard just needed to confirm selling price of the van as they were getting a percentage of the selling price.

Does really make a great deal of sense to me as l dont know how these finance companies work.

Does this lot make sense at all?

junior

 

 

Hi junior. now ask lambard to send you a letter as to what interest they have in your van i.e outstanding finance. as the last owners are telling you it was settled.

[junior19]

Would lombard have an intrest in the price the van was sold for and would they be getting a percentage of that sale?

junior

[cctv engineer]

Would lombard have an intrest in the price the van was sold for and would they be getting a percentage of that sale?

junior

 

 

Hi junior. you are going off base. what deal lambard and the last owner did will not help you at all.

 

all you need is a letter from lambard with amount outstanding. so as you can give a copy to the last owner (they say it has no finance) but you need to know what lambards intentions are.

[junior19]

Hi junior. you are going off base. what deal lambard and the last owner did will not help you at all.

 

all you need is a letter from lambard with amount outstanding. so as you can give a copy to the last owner (they say it has no finance) but you need to know what lambards intentions are.

 

 

Hi CCTV

l tried asking them today what the outstanding balance on the van was but they wouldnt say, what they did say after a bit of thought was that they were legally entitled to reposses the van which to my mind it doesnt sound like its been paid up. But when l phone previous owner the wife said they had paid it off.

Confused

junior