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Hi everyone i hope someone on here could help me with my situation. I bought a car in February privately advertised on marketplace for 4500 the car was advertised at 5000 the car was around the market value but knocked the price down to cover for defects to the car. The seller and car seemed genuine enought and he never mentioned about it on finance Now 2 weeks ago to my horror the car was taken off my drive before my wife got home work and reported it stolen then 3 hours later the police phoned saying the car was repossessed due to outstanding finance so my friend done an hpi check something i should of done before hand i admit to to find and contact the finance company be emailing though the complaint section to find they sale and finance there own cars
So i sent them the information they wanted as regards to purchase and that under section 27 of the hire purchase act 1964 that i was protected by it but they sent me an email stating that because i didnt pay the retail value of the vehicle that it was a clear under value purchase and that they had good title to keep it.
i would of thought surely that they would have to check against market value or are they doing this to benefit themselves seeing they sell cars. Any help would be appreciated thanks as my wife is not taking very well.
Thanks john
So i sent them the information they wanted as regards to purchase and that under section 27 of the hire purchase act 1964 that i was protected by it but they sent me an email stating that because i didnt pay the retail value of the vehicle that it was a clear under value purchase and that they had good title to keep it.
i would of thought surely that they would have to check against market value or are they doing this to benefit themselves seeing they sell cars. Any help would be appreciated thanks as my wife is not taking very well.
Thanks john
