home
in

Car Fraud, Insurance Company, HP Company &

Last post Thu, Oct 01 2009, 12:37 PM by huckster. 1 replies.
Sort Posts: Previous Next
  •  Thu, Oct 01 2009, 11:49 AM

    Car Fraud, Insurance Company, HP Company &

    Hi,

    A bit of background:

    12 months ago I bought a vehicle from a private seller on ebay. Now it turns out he had outstanding finance on the car, he didnt tell me and i didnt do a hpi check. I got a signed document from him confirming the sale.

    Now i have had an accident (the other driver ran into the back of my car) which has been written off, his insurance company are refusing to pay me because of the finance, and they state the will only pay the finance company.

    What can i do to recover my money? apart try to track the seller down?

    I have all the V5 documents.

    Thank you in advance.


    Shehzad Ilyas
    • Post Points: 20
  •  Thu, Oct 01 2009, 12:37 PM

    Re: Car Fraud, Insurance Company, HP Company &

    shehzadilyas:

    You should go to the Police and see if they will look into the matter. Is this a criminal matter or civil matter?

    If this is a civil matter then Citizens Advice may be worth a try or go to see a solicitor. This is some info I found online about this issue.

    Statistically, car buyers face a greater threat of ending up with a car that still has finance outstanding on it, as fraudsters attempt to sell them on without settling the bill.

    “Additionally, not enough car buyers are aware of what may happen if they do end up with a car that still has finance outstanding on it. If a loan or hire purchase agreement is still outstanding on a car that has just been bought, the finance company will retain a legal interest in the vehicle until the loan is repaid in full. If the loan is not repaid, the car could be repossessed.

    “The mistake that a lot of car buyers make is to believe that as an innocent purchaser, they would easily retain ownership of a vehicle in this situation. However, they would have to prove that they really are an innocent purchaser to the finance company which, in practice, can be an extremely difficult and lengthy process.”

    I hope you manage to resolve this without incurring a large legal bill.

    Huckster

    • Post Points: 5