finance mess

[hanray]

we bought a car on hp and after 4 payments we decided to sell the car and passed it to a car dealer who was a friend at the time. he sold the vehicle but didnt clear the finance, now the finance co. are asking us to pay the outstanding balance or take us to court.
i know we were silly to hand over the car to the dealer but he was a friend. how can we trace the vehicle and get the police involved because the police say it is a civil matter go and get legal advice. can the finance co. not recover the car?

[CheekyChops]

I don't really see what good tracing the vehicle will do, you are responsible for the finance unfortunately. The Finance Co. are not trying to recover the car because that takes a lot of effort and it is far easier to chase you for the money you owe them.

Can you speak to the Citizens Advice Bureau? What does your 'friend' have to say on the matter?

[hanray]

the friend has declared bankruptcy so the company is no longer trading. my argue is that the car legally belongs to the finance co. until payments are all made so thats why i think the company should recover the vehicle. could the police help me trace the vehicle then i could sell it to pay the finance back?

[sausagechips]

but you cant sell it cos the car is not yours to sell?!
it sounds like the car dealer has sold the car on.
you signed the finance so it is your responsibility to pay for it.
you could try a small claims court. im sure you are aware it was stupid to hand over a car without any money. who did you think was going to pay the finance?

[sausagechips]

sorry i just re-read that, the car dealer obviously has the money that he recieved from the car so it is not your car. The only way you will be able to retrieve the money is through the car dealer. the new owners will have paid for the car and the finance agreement is between you and the company...

[Oneeyedvic]

As the new people purchased the car from a dealer, they would be classed as 'innocent purchasers' and would therefore have good title to the vehicle.

You will have no chance of getting it back and neither would the finance company.

Unfortunately, you will have to pay the finance company yourself.

[emlett]

you are responsible to the finance company and all you can do is sue the car dealer but if he's bankrupt, it may be a judgment that you are unable to enforce against anything.
sorry about that