Car sales company gone into administration with part exchange

[Amethyst]

Re: Car sales company gone into administration with part exchange

*cough*s75*cough*

M1

but yes.... once I've unconfused what the actual issue is xx

[Koujar]

Re: Car sales company gone into administration with part exchange

Not sure if I have got this right, but it sounds like ur mate bought a car say for eg £10000 part exchanged his car, say for £5000 !!!! But say he actually still owed £4500 so has ended up with a loan agreement for £9500 !!!! Correct so far ??? If so what I think ur saying is carcraft have not paid off original loan of £4500 outstanding which means ur mate is still liable for that amount along with new loan.
If this is the case I presume the new loan is with a different company than the old loan . Old loan was hp?? New loan personal loan ???
if old loan was hp you have a better chance of getting car back because of the title issues technically the finance co still owns car so administrators do not have title of vehicle and may squeeze administrators regarding this, but I suggest you start putting into writing your concerns to all parties involved stating ur concerns .
if you could but a bit more details on site maybe I could help a little more

[England10]

Re: Car sales company gone into administration with part exchange

Hi Many thanks to you all for the replies. I am sorry that I wasn't able to get back to you yesterday. I am now working with a legal advisor face to face which is a great help.
Thanks again to you all.

[Tools]

Re: Car sales company gone into administration with part exchange

Please let us know how you get on, it will assist others who may be in the same situation as your friend.