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Bmw car finance charging order


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Hi there,

 

A couple of years ago BMW finance appointed Wragge and Co to repossess my BMW that was on finance. Unfortunately I could not return the car to them as I had hired to somebody and he was involved in a accident. I could not get in touch with that person and hence did not know where the car was. However after bitting the bullet I decided to learn an expensive lesson and went to court and BMW got a charging order on my house. Upto this day I am paying £250 per month towards the debt of £37k

 

A few days ago I went with a friend who had his car impounded due to improper parking and realised that my very same BMW is in that impound god knows how it got there.

 

my question to all of you is that what are my chances of retrieving that car?

does that car belong to me as BMW have a charging order on the full value?

what is the best action I should take?

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What a coincidence! Wow! A couple of issues spring immediately to mind:

1. What has happened to your car during this period of time. Has it been sold and bought by somebody else in good faith?

2. Given the depreciation on cars during the first few years of a cars life, would BMW actually have any interest in getting it back?

3. Would it be in your interests to let BMW get it back, even if they could, as they would send it to auction, it would sell for a rock bottom price which would be set against your balance (less any auction fees)?

 

If it was impounded from the person you hired it to, then presumably you could get it back. If they sold it I don't think you've got much hope to be honest.

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What a coincidence! Wow! A couple of issues spring immediately to mind:

1. What has happened to your car during this period of time. Has it been sold and bought by somebody else in good faith?

2. Given the depreciation on cars during the first few years of a cars life, would BMW actually have any interest in getting it back?

3. Would it be in your interests to let BMW get it back, even if they could, as they would send it to auction, it would sell for a rock bottom price which would be set against your balance (less any auction fees)?

 

If it was impounded from the person you hired it to, then presumably you could get it back. If they sold it I don't think you've got much hope to be honest.

 

1) i dont think anyone has bought it as it was damaged somehow it was impounded as the finance people visited the address I gave of where i thought the car was. Not sure how the car got impounded

2)All the documents were with BMW as it was on finance I never received any documents to the car?

 

My question is that if I contact the impound what will the procdeure be will i incurr charges?

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I think you would have to approach the compound armed with a shedload of evidence to substantiate your claim. They must be bound by the DPA in terms of what info they can reveal to whom. Maybe you should get the police involved? Has a crime been committed? The compound aren't just going to release it to anyone. I'm not sure where you go from here, unless you fancy a chat to BMW.

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