What options I got for Hire purchase car when relocating out of UK

[fslateef]

Hi,

I am relocating to Netherlands and was planning to import my Car until today I found that the car I bought from dealer (thinking its against personal Loan) is a Hire Purchase from Motonovo finance.

I got 60 instalments plan and already paid for around 27 months I think. My current settlement amount is approx £5600 and current car value from WeBuyAnyCar (thats the minimum value I think I can get) is £4500 approx.

Now what are my options in your opinion please? Haven't talked to motonovo yet (when I noticed they were now closed for weekend). I can't pay them remaining settlement amount (no funds) but can pay them monthly installments until end of term. But only if I can export my car as leaving UK for few years due to job change.

I am really tensed so please guide me what to do?

Thanks in advance

[ostell]

Re: What options I got for Hire purchase car when relocating out of UK

There is voluntary termination, which is basically hand the car back if you have paid 1/2 the sum due, or make a payment to bring it up to that amount. There should be some mention of the procedure and the magic sum in your agreement. Look round here for threads with VT in the title,

Edit: Found the major thread a few down in the new list. It's Here

[fslateef]

Re: What options I got for Hire purchase car when relocating out of UK

Thanks ostell. I will look for VT in threads and now trying to find-out document when I took finance.

Though just a question: Is finance company can let me keep paying payments each month and export car out of UK?

Thanks

[ostell]

Re: What options I got for Hire purchase car when relocating out of UK

That's up to the finance company, you can but ask. But would it be worth it as you may have to modify the car to comply with dutch requirements as it would not be a temporary import?

We looked at trying to keep my wife's French registered car here but it had to comply with English regs after a year, which proved too expensive to make it worthwhile. She sold it to a French man living in England who was returning to France.

[fslateef]

Re: What options I got for Hire purchase car when relocating out of UK

Hi

I think according to my info I only need to replace my head lights to EU standard. Other requirement is to have odometer show km/h speed which mine already have.

Do you know some other requirements?

Thanks

[Kati]

Re: What options I got for Hire purchase car when relocating out of UK

Wouldn't you have to change the registration (number plate) to comply with Dutch regulations if you were taking your car for the duration (more than just a holiday)?
and ... inform the DVLA that the car has been/is being exported?

see - http://www.expatica.com/nl/out-and-a...ds_100588.html

If you wish to bring a car into the Netherlands from abroad, the Road Traffic and Transport Authority (RDW) will demand some or all of the following points are met:

• declare import duties and/or BTW taxes,
• have your car inspected by the RDW,
• apply for the BPM car tax with customs,
• pay the BPM and then receive the vehicle registration certificate,
• obtain number plates,
• pay road tax,
• take out third-party insurance,
• pay the disposal contribution for passenger vehicles.

If you intend to register as a resident in the Netherlands, the Dutch municipal authorities will demand that you obtain Dutch registration for your vehicle if you bring it with you from a foreign country.

[Diana M]

Re: What options I got for Hire purchase car when relocating out of UK

Have you checked the Ts & Cs of the credit agreement to see if there are any restrictions on taking the vehicle abroad for more than a specific numbers of days?

The only obstacle I foresee would be the different legal jurisdiction in the event of a default on the agreement. The creditor may not be able to pursue you through a court in the Nethelands so they may disallow the vehicle's relocation if that would prevent them from repossessing it if that ever became necessary.

Is your new job with a UK company albeit carried out abroad? Will you still have a financial presence (salary paid into UK bank account) and an address for mail?

Di

[fslateef]

Re: What options I got for Hire purchase car when relocating out of UK

I will be joining a Netherlands based company.

Will have UK address of my sister for bank account as there are loan and credit cards payments going on monthly.

So they can still take payment from current bank account for my car.

And can I keep driving uk registered car in Netherlands if get insurance from uk company which can let me drive anywhere in EU for unlimited number of days?

Also I will be becoming resident in Netherlands so according to their rule I can't drive a car without importing?

Thanks

[ostell]

Re: What options I got for Hire purchase car when relocating out of UK

I doubt if you will get insurance for unlimited days in Europe and you will have to get Dutch insurance. As a temporary visitor you are allowed to drive with UK registrations and paperwork for a limited time only, probably 1 year, similar to the UK rules. You'll proably need to exchange your driving licence for a Dutch one as well.

[fslateef]

Re: What options I got for Hire purchase car when relocating out of UK

Hi,

Just an update. My Motonovo finance company was just like sticking on terms and conditions and not willing to bend any rules for me. Now Thank God I am almost able to manage money to settle them and buy the car.

So now I have to find-out how and till when I can drive in Netherlands my UK car without import and how quickly I can import.

Thanks

[Diana M]

Re: What options I got for Hire purchase car when relocating out of UK

My Motonovo finance company was just like sticking on terms and conditions and not willing to bend any rules for me.

What did the Ts & Cs actually say?

Di

[fslateef]

Re: What options I got for Hire purchase car when relocating out of UK

What did the Ts & Cs actually say?

Di

That either I can VT the car reaching 50% OR give them full money I owe. I can't export or sell the car.

[ostell]

Re: What options I got for Hire purchase car when relocating out of UK

And don't forget to tell DVLA that the car has been exported.

[fslateef]

Re: What options I got for Hire purchase car when relocating out of UK

And don't forget to tell DVLA that the car has been exported.

Yup, I will. Can I tell them after I reach Netherlands and start process for importing?

Also I found a Dutch insurance company who can give me 1-month insurance on Foreign car to drive in Holland with Holland address.

Thanks

- - - Updated - - -

Also I can't drive foreign car in Netherlands as soon as I get registered with Municipality and get BSN there. Need to import it as soon as I can.