car pcp

[oldfudge]

Hi I need a little help, my farther has an A4 Audi on PCP he got last year, he was 82 years old, he past away last week. were do we stand with the finance company he has no executor or finances in the bank no estate, we have taken the car back to Audi were it was brought from. But were do we stand, and my farther had the guarantor.

[Kati]

R0b ??

[ostell]

The debt is owed by the estate. If the estate has no money then the finance company won't get anything. However is there is a guarantor involved then the guarantor could be liable.

[R0b]

Hello

As Ostell has stated, the guarantor would need to check the terms and conditions and see whether they are released in the event of death or if they have to take over the repayments. That said, if you have taken the car back to Audi and have put the guarantor in a worse position i.e. having to repay the full amount when the guarantor could have exercised the right to voluntarily terminate the agreement and limit his or her liability to 50%, then you could be liable to the guarantor for any payment over and above that amount. This is more of an afterthought than anything else.

[oldfudge]

Hi sorry I did not make it clear there is no guarantor.

[ostell]

Then there is nothing to worry about. They can only claim from your father's estate. If the estate is insufficient then they can not look to anyone else for the money.