Car Finance Outstanding On Purchased Vehicle.

[Blueray]

Recently brought an Audi A7 from a private seller but didn't carry out a vehicle check prior to purchase.

Turns out there is outstanding finance on the vehicle but said vehicle has changed hands three times and I am now the third owner to have purchased the vehicle since the finance was taken out.

No idea who the original purchaser was but understand he was the individual to take out the finance.

To clarify the log book now lists me as the fourth owner with the original purchaser from new being the individual who took out the finance.

Do I have any rights and can the finance company take the car back.

[R0b]

Re: Car Finance Outstanding On Purchased Vehicle.

The starting point is that the finance co has retained title to the car even where it is sold to a third party.

However, it may be difficult for the finance co to enforce the right to the goods, they will need to jump through hoops and apply to court for starters. They cannot just come onto your land and take the car as that would be trespassing.
It also depends on the wording of the contract itself, retention of title issues can be complex, especially if it has traded hands a few times.

How did you find out that finance was on the car? This is why you should always do a HPI check prior to purchasing, especially when buying an expensive car like an A7!

[Blueray]

Re: Car Finance Outstanding On Purchased Vehicle.

Just called to book the car in for its first service and have been told about the finance history a friend of a friend owns the garage and gave me a heads up.





The starting point is that the finance co has retained title to the car even where it is sold to a third party.

However, it may be difficult for the finance co to enforce the right to the goods, they will need to jump through hoops and apply to court for starters. They cannot just come onto your land and take the car as that would be trespassing.
It also depends on the wording of the contract itself, retention of title issues can be complex, especially if it has traded hands a few times.

How did you find out that finance was on the car? This is why you should always do a HPI check prior to purchasing, especially when buying an expensive car like an A7![/QUOTE]