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Finance Company - Car Accident

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Hi, sorry if this is in the wrong forum but any advice welcomed.

 

Here is the issue, a car with 20k finance goes missing after a company enters administration.

The finance company utilises a trace company to locate, which they sucessfully do.

They find the car imobile, abandoned in a back street garage after a severe accident.

 

The vehicle is clearly a total loss.

 

Does anyone know what the legal obligations that the finance company has to comply with?

 

i.e. safe disposal

transfer of ownership for salvage

Assessment of condition

 

Or is it that they can dispose of how they see fit.

 

I thought there where laws about safe disposal of accident damaged vehicles

 

Does anyone know?

 

Thanks

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The finance company will use a licenced salvage company to do all this for them. As there will be an Insurance issue, then I would expect the Insurers to conduct an inspection, so the car will be held somewhere so it can be inspected. If it is a write off, then the car will be scapped by the salvage company for an agreed value and they will deal with all the paperwork in regard to DVLA.


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Thanks I will go back to the finance company

 

I ended up purchasing a car which was a un-recorded write-off because the finance company instructed the trace company to sell it to the garage where it was found.

 

No inspection took place, no insurance, no transfer of ownership.

 

the finance company simply washed their hands of the car for £500

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If you bought this car then your complaint is with the garage you bought it from, as they should have checked the car for previous accident damage.

 

I suspect that the damage repairs were more than 50% of the cars value, if it was declared as a write off and therefore it should have been obvious on any inspection that the car had received substantial repairs.

 

If you have finance on the car, they may be able to help with the garage you bought the car from. They are jointly legally responsible with the garage, in a three way contract.

 

All sounds a bit dodgy to me.


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It is dodgy, the garage I bought the car from is up in court for 500k fraud!

I bought the car outright using my part ex, the damage estimate was 85% destroyed when I got the vehicle checked when things started to go wrong. The HPI check was clear

 

The thing is, I would have thought the finance company should have dealt with this in a safe manner and not simply sell on as an unrecorded total loss. I have obtained the pictures of the car after the accident from the police, and it is shocking.

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For that amount of damage, I would think the finance company had a legal responsibility as owner of the car to make sure the write off was informed to DVLA.

 

It might be worth phoning VOSA to find out the legal position. I am not sure how you would be able to pursue the finance company, as you don't have any legal relationship with them. Your only hope is that VOSA or DVLA or whoever takes action against the finance company and you are compensated as a result.

 

http://www.dft.gov.uk/vosa/contactus/contactus.htm


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