Problems with Black Horse Car Finance -

[suttonh]

help needed.

3 years ago i bought a car from a dealer on finance arranged by Black Horse. (which i thought was a Hire purchase agreement).

I wanted Black Horse to take the car back as i had lost my job but they said they couldn't due to it being a personal loan so i said i would sell it and pay them off but i could not do that as it was registered on HPI register as well


So I am stuck in catch 22, I can not sell the car to pay of the debt because it is registered on HP but they do not want it back either.

I have now received County Court papers wanted the full amount owed and I don't know whether to agree to pay or argue the case

Can anyone help me has this sort of thing being challenged in Court before ??

[Loosehead]

You can sell the car if the buyer pays the finance, just explain the situation to a potential buyer. You have a letter with the settlement figure. If the car is now worth less than the outstanding amount you will still owe the lender, if not you will have some change.

[Oneeyedvic]

Personally, working in th eindustry, I think that Black Horse have not got a leg to stand on and if challenged in court would back down.

Personally, speaking, i would happily go to court if it were me - they are working on a bullying tactic and assuming that you won't want to defend yourself.

If you want any further help, please feel free to email me at my user name (oneeyedvic) at gmail.com

[thewhitevanm]

if the dealer who sold you the car financed the vehicle for you as well then if you were lead to beleve that the finance was a hire purchase agreement then under the consumer credit act 1974 you have tecnicaly been misslead and subsiquently miss sold your finance and the FSA who now reulate the motor industry take a vary dim view of this kind of thing so i would go to them or trading standards. as under a hire purchase agreement you could have exorsized your ridhts under the termination and reposetion rights (halfs and thirds rule)and given the car back to black horse. hope this helps

[Oneeyedvic]

Got to be honest, but I doubt the FSA would get involved:

Firslty, its one persons word aginst another

Secondly (and importantly) the document will clearly say Loan agreement. The motor dealer will just turn around and say - Just a simple question - did you read the agreement before you signed it?

[thewhitevanm]

no sorry but there are new rules regarding the sales of finance, the whole reason for the consumer credit act 1974 is that as a consumer you a ''conciderd'' not to know any better, where as if the agreement was a none regulated (ie over �25000 or a LTD company)one then you are deamed to know better before hand, hence the dealer can still be at fault, if nothing else this gives you one line (out of a few) of attack.

[naughtynic]

hey

Just for your information if you called Black Horse they would remove the HPI straight away don't know why they put it on in the first place. Then sell the car put what you want towards the personal loan. Because youll be paying a large sum it will go on your account as being prepaid and you can arrange an installment plan for the remainder as your not in arrears your prepaid.

Hope this makes sense i know everyone is talking about going to court but thats just another option.

[raymieroo]

I'm in a similar predicament only i've been sold faulty goods under a hp agreement and neither the dealer {scott baillie cars tollcross glasgow} or the devil {blackhorse} are willing to help!!!

They take out agreements under contract and dont abide by the same contract when problems arise. Which as far as i'm aware is breaking the contract, not only illegal but something which consumers rarely get to enforce on company's, the same company who would gladly enforce it on you.

[skyblue35]

BLACK HORSE CANT STOP YOU SELLING THE VEHICLE, AND IF IT IS A PERSONAL LOAN PLAN THEY CAN STILL LEGALLY REGISTER A FINANCIAL INTEREST WITH HPI, HOWEVER THE HPI REPORT SHOULD ALSO STATE WHEN DISCLOSED TO ANY PROSPECTIVE BUYER THAT IT IS A PERSONAL LOAN AND NOT SECURED ON THE VEHICLE, FAILURE FOR BLACKHORSE TO REGISTAR IT AS A PERSONAL LOAN IS BREAKING REGULATIONS OF HPI. THE VEHICLE CANNOT BE REPOSSESSED FROM THE BUYER. AS LONG AS IT IS A PERSONAL LOAN PLAN, BLACK HORSE CAN ONLY PURSUE THE SELLER FOR PAYMENT. THEY CANT AND DONT HAVE ANY LEGAL RIGHTS TO THE CAR

[skyblue35]

Hi, Black Horse register an interest with HPI, however they must meet certain legal criteria when doing so, the HPI report must state that the vehicle is not secured by means of an Hire purchase aggreement, and must state that it is a personal loan, Black Horse do not have any legal rights and cannot repossess the vehicle from yourself or any future buyer, and under the law once you have sold the car they must remove there interst in the vehicle from the register, they can only pursue you to settle there loan like any otyher bank or finance company can should you default, You are within your legal rights to sell the vehicle if you want to.

[skyblue35]

So in theory oneeyedvic is correct, the person selling the vehicle is the legal owner of the vehicle and has title to it, as long as it is a personal loan plan ( which with Black Horse it will be) Black Horse cannot claim back the car from you or anyone else as they have no legal rights to. hope this helps

[Suzyj]

blackhorse want to repossess my car, I have not missed a payment but have paid reduced payments since I lost my job. I have a letter from the local court saying it is going to a hearing, no one at blackhouse contacted me, they just sent a letter and filed the papers the same day. They say I owe £19k, the car was £23K including their finance, which I was misinformed about at the garage, I've paid over £7K, and I know if i give the car back the still expect me to pay £15k, and I won't have a car. I need the car to continue my midwifery training, Im due to qualifiy in a few months then I will have a job