I have been left to pay a Hire Purchase Agreement and the person I am paying this for has disappeared with the vehicle. The Finance company told me to report the matter to the Police and the Police said that as the finance company legally own the vehicle then it is they who must report the vehicle as stolen. I have emailed the finance company today to ask if I can terminate the agreement and if in fact they have reported the vehicle as stolen to the Police. Only felt sorry for the person whom I took this on for (family member). Can anyone give me any advice? Thanks
Hire purchase agreement
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Re: Hire purchase agreement
Originally posted by andy58 View PostDid the person who took the vehicle do so with your consent. Did he drive it away with your consent I should say.
The vehicle was purchased by my son and he talked me into going Guarantor or so I thought. We went to the Garage and I signed the HP agreement. He said he would set up a new direct debit in his own name after he had his haulage company set up - I only did this to help him get a business started and he had no credit rating. Once his company was set up - he fell out with me - I think on purpose and I am left with the HP for a vehicle I have never used. I contacted the Finance Company who said I could voluntary terminate the agreement but they would need the van back. I went to his house and discovered that he had moved, The Finance company told me to go to the Police and report the vehicle as stolen which I did however, the Police said that the vehicle belongs to the Finance company and it is them who have to report the vehicle as stolen. I gave the finance company my son's email address as they said they have to give him time to respond and in the meantime they are still taking the payments from my account. I have emailed them on three separate occasions regarding an early settlement or end of agreement figure and they have not got back to me. Many thanks.
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Re: Hire purchase agreement
The ;problem as far as the police are concerned is that the vehicle was not taken without the keepers consent, so they will say that complaint must be made by the legal owner.
I would write the lender a letter stating that the vehicle was being used contrary to your wishes and without your consent, and that as you are concerned it has been stolen, i would send this recorded and keep it on record that they have been notified.
Inform them about what the police said, give the 14 days to respond after which you will discontinue payment. The last bit is jut my opinion, but experience in similar cases has shown that lenders are quite happy to continue taking money in these cases they could care less who has the car, unless their hand is forced.
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