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Bought car on new HP- still on HP with The Funding Corporation who want it back!!!


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Posting on here on behalf of my cousin who has just exchanged his car via the website pistonheads.

 

He got a telephone call as he had advertised it on pistonheads and the person said did he want to exchange his vehicle for the persons own? My cousin paid £250.00 plus his car for his car.

 

Then found out after a Finance company rang him that in fact the car still has hp on it at £6500.00!

 

The seller said it was the owner before him who had the hp on the car.

 

So where does he stand now? Can he keep the car as he bought it in good faith?

 

Can he sue the seller and get his car back?

 

He tried reporting it to the police but they did not want to know!!!

 

Also, is it legal to drive etc does he have to tell his insurance company that the car is currently in the middle of a hp dispute?

If there are spelling mistakes on my posts, I blame the gremlins tapping my keys. :eek:

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csi as far as i know. will check with my cousin back soon!

 

 

The problem you are going to have is not doing a HPI check. look at .gov website the tv add is shown 12 times a day on tv warning people of not doing one.

 

you will loose the car. so do this. go back to the guy you swopped the car with kick up such a fuss that the police are called then have them make statments (as you have already said the guy knew about the outstanding finance) and have it turned into fraud. but at least try and get your car back.

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The guy is in Leeds and my cousin lives in eastbourne. bit far to kick up a fuss!! shall I write to the police or go in to the police station with him to help him out. he was really toungetied the first time.

 

Should I write to the guy and threaten to sue him for mis-selling the vehicle. shouldnt the contract be declared void??

If there are spelling mistakes on my posts, I blame the gremlins tapping my keys. :eek:

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The guy is in Leeds and my cousin lives in eastbourne. bit far to kick up a fuss!! shall I write to the police or go in to the police station with him to help him out. he was really toungetied the first time.

 

Should I write to the guy and threaten to sue him for mis-selling the vehicle. shouldnt the contract be declared void??

 

 

was your car on finance ???.

 

the police will not do anything.

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no his car was completely his. i have being doing some reasearch and believe that he may be able to sue him for fraudulent misrepresentation but will do further research before writing to the guy.

If there are spelling mistakes on my posts, I blame the gremlins tapping my keys. :eek:

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no his car was completely his. i have being doing some reasearch and believe that he may be able to sue him for fraudulent misrepresentation but will do further research before writing to the guy.

 

 

before you waste your money. what do you mean by misrepresentation, did the add in the mag say this car has no finance. and did you drive to leeds to do the deal ???

 

fighting this though the courts and you WILL loose. no money changed hands. you did a swap. for what its going to cost you to get him to court will not be far off the price of the car. unless you cut your losses and go for £5000 though small claims court. (max you can at small claims) or see what the cost is doing a deal with the finance company for the car you have. i have said it many times on this forum HPI check covers you (even if not listed) for £29 you have lost £5k

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the guy said that the car had no finance and my cousin paid 250.00 on top of his car. However, the contract can be recissed on the basis that the contract is based on fraud and that the contract should be reversed as if it had never happened.

If there are spelling mistakes on my posts, I blame the gremlins tapping my keys. :eek:

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the guy said that the car had no finance and my cousin paid 250.00 on top of his car. However, the contract can be recissed on the basis that the contract is based on fraud and that the contract should be reversed as if it had never happened.

 

 

 

this is what i would say to you or any other solicitor did you do a HPI check.

 

the problem is the guy that swaped you cars has not broken any law you had protection from HPI but you wished not to do one.

 

i know this is stuff you dont want to hear but they are the facts you took a gamble.

 

there is one thing you can do is contact the finance company and see if they had informed the last owner of the outstanding finance on the car you swaped. (you need this in wrighting) it might help.

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Ok dont panic. Advise the finance company that you are an inocent purchaser and as such have good title to the vehicle. Under the Hire purchase act 1964 (look it up) good title is deemed to have passed if bought in good faith by an innocent purchaser.

 

The only problem you will have is if , your cousin knew it was on finance, should have known better (is a trader or dealer etc) paid an amount (in exchange or cash) that could be deemed below market value. Or that your couin knew the previous owner well.

 

If as in this case the person who you bought the vhciel of was also an innocent purchaser then you are the owner of the car.

 

Hp companies know this and you need to send them a letter recorded stating the above etc and advising them that you are the legal owner. this should stop them sending the repo agents out.

 

In summary it is now your car. They have some recourse but it will require proof that the original deal was fraudelent and a court order (very unlikely)

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This most excellent news. I have looked at the HP Act 1964 and am currently drafting a letter to the Finance company. I am going to quote sections 27 and 28(4) stating that title has passed in the utmost good faith and that any civil action will be defended vigirously on the basis that he was unaware of the outstanding hp. Will draft letter and may ask for some assistance in confirming its good.

If there are spelling mistakes on my posts, I blame the gremlins tapping my keys. :eek:

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This most excellent news. I have looked at the HP Act 1964 and am currently drafting a letter to the Finance company. I am going to quote sections 27 and 28(4) stating that title has passed in the utmost good faith and that any civil action will be defended vigirously on the basis that he was unaware of the outstanding hp. Will draft letter and may ask for some assistance in confirming its good.

 

 

Hi nutter. i think you need to see a solicitor before you send any letters. the HP act will not apply to you. you have some problems.

 

under hp aggrements you do have some protection with being a 3rd party. or buying in good faith.

 

what the finance are going to ask you for is how much you paid i.e did you pay well under book price and how much did you pay. they are going to see you paid £250 for a £6000 car. you have to be out of pocket to have bought under good faith. and a swap does not protect you.

 

the pistonhead mag has add all over it DO NOT SWAP. and you are not the first to fall into this [problem]. so please see a solicitor (not trading standards) to to see were you stand

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my cousin paid 250 and he swapped his other car as well. I have just finished drafting a letter and wonder if anyone can check it for me. however now having doubts about what is happening as seem to be receving conflicting advice here.

 

Letter displayed as below:

 

The Funding Corporation

International House

Kingsfield Court

Chester Business Park

Chester

CH4 9RF

 

RECORDED DELIVERY

 

Dear Sirs

 

Re: *vehicle reg no*

 

I write with reference to the above registered vehicle which was

purchased by myself on * date of purchase*. Please note that title of the vehicle has now passed to my by means of this sale and the vehicle is therefore legally owned by me.

 

The vehicle has been purchased in good faith and at no time did the owner selling the vehicle give me any reason to believe that he did not own the vehicle and assured me that no finance was outstanding on the vehicle.

 

In addition, in adverts advertising the sale of the vehicle no mention was made of any outstanding finance at the time. Evidence of the advert for the vehicle as displayed on the internet can be provided upon request.

 

I would draw your attention to section 27(1) of the Hire Purchase Act 1964 which states ‘the provisions of this section shall have effect where a motor vehicle has been let under a hire-purchase agreement, or has been agreed to be sold under a conditional sale agreement, and, at a time before the property in the vehicle has become vested in the hirer or buyer, he disposes of the vehicle to another person.

Your customer who originally purchased the vehicle on finance has disposed of the vehicle to another private purchaser who has bought the vehicle in good faith. I would also refer your attention to section 27(2) of the Hire Purchase act 1964 which states ‘where the disposition referred to in the preceding sub-section is to a private purchaser, and he is a purchaser of the motor vehicle in good faith and without notice of the hire-purchase agreement or conditional sale agreement, that disposition shall have effect as if the title of the owner or seller to the vehicle has been vested in the hirer or buyer immediately before the disposition’.

Therefore ownership of the vehicle has passed to me on this basis and I now hold legal title for it. Please confirm that you understand the current situation and advise you to speak to the original indivdual who purchased the vehicle using finance provided by yourself.

 

I look forward to hearing from you in due course.

 

Yours sincerely

 

Nutter192

If there are spelling mistakes on my posts, I blame the gremlins tapping my keys. :eek:

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my cousin paid 250 and he swapped his other car as well. I have just finished drafting a letter and wonder if anyone can check it for me. however now having doubts about what is happening as seem to be receving conflicting advice here.

 

Letter displayed as below:

 

The Funding Corporation

International House

Kingsfield Court

Chester Business Park

Chester

CH4 9RF

 

RECORDED DELIVERY

 

Dear Sirs

 

Re: *vehicle reg no*

 

I write with reference to the above registered vehicle which was

purchased by myself on * date of purchase*. Please note that title of the vehicle has now passed to my by means of this sale and the vehicle is therefore legally owned by me.

 

The vehicle has been purchased in good faith and at no time did the owner selling the vehicle give me any reason to believe that he did not own the vehicle and assured me that no finance was outstanding on the vehicle.

 

In addition, in adverts advertising the sale of the vehicle no mention was made of any outstanding finance at the time. Evidence of the advert for the vehicle as displayed on the internet can be provided upon request.

 

I would draw your attention to section 27(1) of the Hire Purchase Act 1964 which states ‘the provisions of this section shall have effect where a motor vehicle has been let under a hire-purchase agreement, or has been agreed to be sold under a conditional sale agreement, and, at a time before the property in the vehicle has become vested in the hirer or buyer, he disposes of the vehicle to another person.

 

Your customer who originally purchased the vehicle on finance has disposed of the vehicle to another private purchaser who has bought the vehicle in good faith. I would also refer your attention to section 27(2) of the Hire Purchase act 1964 which states ‘where the disposition referred to in the preceding sub-section is to a private purchaser, and he is a purchaser of the motor vehicle in good faith and without notice of the hire-purchase agreement or conditional sale agreement, that disposition shall have effect as if the title of the owner or seller to the vehicle has been vested in the hirer or buyer immediately before the disposition’.

 

Therefore ownership of the vehicle has passed to me on this basis and I now hold legal title for it. Please confirm that you understand the current situation and advise you to speak to the original indivdual who purchased the vehicle using finance provided by yourself.

 

I look forward to hearing from you in due course.

 

Yours sincerely

 

Nutter192

 

 

 

Hi nutter. please hold off from sending your letter. you will shoot yourself in the foot. buy all means send them a letter asking them for time and prof of finance and nothing else.

this is why you should not send your letter.

 

the Hire Purchase act 1964 which states ‘where the disposition referred to in the preceding sub-section is to a private purchaser, and he is a purchaser of the motor vehicle in good faith and without notice of the hire-purchase agreement or conditional sale agreement

the part were it says without notice of the hire purchase. (a HPI check would have told you) because you never did one the hire purchase act will not cover you. this is why i say dont send your letter.

at the moment just send a letter asking for details of the outstanding finance and extra time to sort it out. then on your car insurance you will have legal cover it might be worth giving them a call

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Doing or not doing an HPI does not make any difference. You are a private person who did not even by your own admission know that you needed to get a hpi done at the time of doing this deal to get a car.

 

You didnt pay £250 for the car you swapped your car and £250 for it and that part exchange is still value.

 

All I would add to the letter is that following advise you have been made aware of the hire purchase act etc. You need to make very clear that prior to this problem coming to light you were innocent of the fact that there might have been hp on it. There is no need to do an HPI that is a company that provide a service and is irrelevant the fact that they advertise a service does not give the financ e company a reason to win. Your letter is fine just ensure that you state catagorically that when you purchased the car the guy said it was clear of finance (that is enough in law to protect you) you didnt do an HPI check becauseyou didnt know what it was and there is no requirment to do so.

 

Further more if the guy you bought it from is not the original hirer then funding corp will need to go back to him as well.

 

Again doing or not doing a hpi is irrelevant they are just a company and you have no requiment to do so.

 

fund corp should have sent you out a questionaire regarding how you bought the car. Be careful filling it out but do so . The questions are worded to try and trip you up and admit you are not an innocent purchaser.

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Doing or not doing an HPI does not make any difference. You are a private person who did not even by your own admission know that you needed to get a hpi done at the time of doing this deal to get a car.

 

You didnt pay £250 for the car you swapped your car and £250 for it and that part exchange is still value.

 

All I would add to the letter is that following advise you have been made aware of the hire purchase act etc. You need to make very clear that prior to this problem coming to light you were innocent of the fact that there might have been hp on it. There is no need to do an HPI that is a company that provide a service and is irrelevant the fact that they advertise a service does not give the financ e company a reason to win. Your letter is fine just ensure that you state catagorically that when you purchased the car the guy said it was clear of finance (that is enough in law to protect you) you didnt do an HPI check becauseyou didnt know what it was and there is no requirment to do so.

 

Further more if the guy you bought it from is not the original hirer then funding corp will need to go back to him as well.

 

Again doing or not doing a hpi is irrelevant they are just a company and you have no requiment to do so.

 

fund corp should have sent you out a questionaire regarding how you bought the car. Be careful filling it out but do so . The questions are worded to try and trip you up and admit you are not an innocent purchaser.

 

 

 

YOU DO HAVE A REQUIMENT to do a HPI CHECK. OR LOOSE THE CAR it can not be made simpler. finance company do not have to register a car on the register but if a HPI was done then you are still covered.

 

now the fund corp will ask you how much you paid. the ans is £250 total. yes he swaped a car but he is only out of pocket £250. the finace company or fund corp are not going to let you keep a car worth £6250. swaping cars has NO protection at all. so would doing a hpi check of been worth it for £29 yes 1000% i am telling people to do hpi and you say no you dont have to.................. that is bad info

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YOU DO HAVE A REQUIMENT to do a HPI CHECK. OR LOOSE THE CAR it can not be made simpler. finance company do not have to register a car on the register but if a HPI was done then you are still covered. No you dont, why would an act of parliment have a requirement for a layman to use a pivate company in it? It might be a good idea for self protection but it is NOT required in law

 

now the fund corp will ask you how much you paid. the ans is £250 total. yes he swaped a car but he is only out of pocket £250. the finace company or fund corp are not going to let you keep a car worth £6250. swaping cars has NO protection at all. so would doing a hpi check of been worth it for £29 yes 1000% i am telling people to do hpi and you say no you dont have to.................. that is bad info The answer is not £250, its £250 plus his car and as long as the preceived value is ok then its fine and will stand up with finance company. Im not telling people not to do an HPI im pointing out that if they didnt it doesnt mean they are going to loose the car (innocent purchaser = good title) Of course you should do an HPI but you are not required by Law to do so and indeed regardless of adverts on TV most people still dont know what one is.

 

This guy has taken my advice, read up on the relevant act and probably learnt more than you seem to know and you say my info is poor. lets check experiance here. Whats yours? Ive spent 15 years working for car finance companies including a legal department for a national HP company sending out letters like those above to try and get these cars back.

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This guy has taken my advice, read up on the relevant act and probably learnt more than you seem to know and you say my info is poor. lets check experiance here. Whats yours? Ive spent 15 years working for car finance companies including a legal department for a national HP company sending out letters like those above to try and get these cars back.

 

 

 

 

why do you use hpi checker ???

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I feel for him mate i really, do, i posted a similare story few weeks ago, http://www.consumeractiongroup.co.uk/forum/vehicle-repossessions/263977-hpi-checks-dont-always.html#post3013162 i had done 2 hpi checks, the person whom originally took out the hp on the car had gone to live in spain, so no chance of sueing them, but after supplying the receipt from the seller and faxing them the hpi checks i had done, to the solicitors pursuing the debt, we now have received letters from the stating we are now the legal owners of the car and hsbc are pursuing them in a differant way. if he can prove it was bought in good faith it should be ok. Good luck.

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I feel for him mate i really, do, i posted a similare story few weeks ago, http://www.consumeractiongroup.co.uk/forum/vehicle-repossessions/263977-hpi-checks-dont-always.html#post3013162 i had done 2 hpi checks, the person whom originally took out the hp on the car had gone to live in spain, so no chance of sueing them, but after supplying the receipt from the seller and faxing them the hpi checks i had done, to the solicitors pursuing the debt, we now have received letters from the stating we are now the legal owners of the car and hsbc are pursuing them in a differant way. if he can prove it was bought in good faith it should be ok. Good luck.

 

 

Hi happy. so you were glad you done a hpi check. if you had not i think hsbc would have taken your car. this is what protected you. i am glad everything worked out for you. it is a stressful time that people should not go though.

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  • 6 years later...

i know this is an old thread but did the original poster get sorted, i need help asap!

 

i had my car on advertised for £7000 and got a text asking would i swap it for a newer car worth almost the same value, the ad had a hpi check on it but i paid for one of my own for peace of mind, it came back all clear, however i went to sell it on and someone done a hpi and it is saying there is outstanding finance and that the finance was taken out on october last year so there wont be very much of it paid, im worried the finance company can come and lift it as its in my name, its taxed and insured to my address, i cant get in contact with the guy i got it off his phone is dead but i do know the location of my old car but its not the guy that i swapped he must have sold it on.... do i call the police and tell them my car is stolen or do i contact the finance company and try and lay claim to the car

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Hello knighteen, welcome to CAG.

 

This thread dates back to 2010, you really need to start a new thread of your own please. The guys will be happy to help you. :)

 

My best, HB

Illegitimi non carborundum

 

 

 

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  • dx100uk changed the title to Bought car on new HP- still on HP with The Funding Corporation who want it back!!!
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