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Help! Swapped for a car with outstanding finance.

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Hi all.

 

I recently made a straight swap with my Audi A3 for a damaged Fiat 500. The Fiat is much newer than my Audi, but with the damage I deemed it to be worth about the same. At the time, I performed a MyCarCheck on the car to see that it wasn't written off, which it wasn't.

What this check didn't reveal, was that the car was actually outstanding finance. I'll never be making that mistake again...

 

This was some weeks ago. I've now had the car fixed at a local bodyshop at my cost with the intention of keeping the car. Only now has the previous seller been in touch to say there is outstanding finance. I panicked and have now fully HPI checked to confirm this is the case.

 

I am the third owner. The seller was the second owner for a short period. The finance is with the first owner.

I've been in contact with the finance company to check that they are interested in the car still, which they are.

 

From reading up on legislation, I believe I need to prove that I acquired the car in good faith. I have also read that because I have invested in fixing the car it should actually help my case.

 

I have details of the advert screen-grabbed (no mention of finance), the V5 green slip, the seller's details, and the mycarcheck from the time. I also have various messages from the seller when we arranged to meet.

 

I want to keep the car, but now I don't know where I stand even if I wanted to sell it one day. The previous seller has no intention of taking the car back, and my Audi is apparently gone elsewhere. Im worried because I swapped my car rather than purchased it outright it may make it may be a grey area.

 

Whilst searching I came across a user with a near identical case, but no updated outcome. User: ctid1987

I cant message the user, or link to the post because Im a newbie.

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So the second owner has fraudulantly sold the vehicle in full knowledge that it had outstanding finance but didnt advertise it.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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So the second owner has fraudulantly sold the vehicle in full knowledge that it had outstanding finance but didnt advertise it.

 

The last seller claims to have been surprised by the news too. Hence why I was only alerted now. Whether they are telling the truth or not I don't know.

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how long did the second seller have the car , if he sold it in a short time after buying it i would say he knew full well , however proving it is another matter

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You aquired good title as you bought it in good faith. Your mistake was not doing and HPI check.

 

Unless amended under s27 of the hire purchase act 1964. You aquired good title. You might be able to use this argument.

 

You could also be stopped by the Police if the original creditor reports it stolen. Then it would show up every time you pass an ANPR device so you are in between a rock and a hard place...

 

In future ALWAYS do an HPI check never take the word from a seller as they just want your money.

 

I recently bought a mobility scooter and drafted a very in depth receipt. I also did an HPI check. I took a photo of the seller and his car index.

 

The seller said why all of this. Simple answer was it might not be yours to sell and might belong to Motorbility.

 

Even if the owners name matches their I'D it does not mean they are the legal owners all it means is they are the REGISTERED keeper nothing more....


If I have been of any help, please click on my star and leave a note to let me know, thank you.

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