ChatterBank1 min ago
car finance
5 Answers
I have just purchase a car and found out that it has outstanding finance on it.Can I get legal ownership of the car while their is outstanding finance?
Answers
Best Answer
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For more on marking an answer as the "Best Answer", please visit our FAQ.Would agree with didwot, the first innocent buyer after the person who is named on the finance agreement can gain title (ownership) of the vehicle. Note that if you bought it from someone and it was the person that THEY bought it from who had the finance, then they and not you will be the first innocent buyer so they would more than likely get title, and then could pass to you.
I would suggest writing to the finance company involved mentioning the Hire Purchase Act and explaining the situation and asking for title to be passed to you.
I would suggest writing to the finance company involved mentioning the Hire Purchase Act and explaining the situation and asking for title to be passed to you.