My now ex husband got a finance loan out to buy my car

[jannyjannyjanjan]

about 2 years ago my now estranged husband got a finance loan out to buy me a car, my then car went in as part ex at £3'500, I am the registered owner & keeper of the car, the car was bought as a gift & came with a big red bow wrapped round it for valentines day.
My estranged husband said he would continue paying the payments per month as I'd walked away from the marital home leaving him with the equity. He now says he can not / will not pay the payments & has told me that the car is not on HP it is via a finance loan? I don't understand what the difference is,But my question is what can i do? will I lose my car? HELP

[boxtops]

If it's on any sort of loan (and HP is only a sort of loan, IMO) it's the loan company who owns your car, I believe. If you don't pay, they'll reclaim it. There was a similar thread on here not so long ago.

[ummmm]

Only if he used the car as security...

[maclarencat]

If it is on a loan that is not secured against the car you will not lose your car. If the loan was secured against the car you may lose your car. Without seeing the loan agreement there is noway of knowing. Hire purchase means the company owns the car which you hire then purchase with your final payment so it remains the property of the company until the final payment is made.

[boxtops]

That's helpful to understand the difference, thank you!

[ubasses]

If he went to the Bank and requested a loan he can do what he likes with the money ie buy you a car and if he doesn't pay the loan each month they will chase him for the money, eventually writing the loan off and registering default with credit reference agency. However he he takes finance from most car companies they get paid up front by the loan company and if does not make payments they can reposess car.
Or then there is the type of agreement where you put down a deposit, make monthly payments and at the end of a set period you have to pay a lump sum or hand the car back, again if payments are not made they will take the car back.

[maclarencat]

You are welcome Boxtops