HELP/ Where do i stand.

[burtie]

Hi.ive put money down on a motorhome two weeks ago to save untill i got back & after getting back of holiday a good friend did a hpi check on the vehicle & found its on finance, plus theres a section on the paper that says security watch & another one that says, type & at the side of it,it says, hire purchase.So i ring the chap & he says theres nothing to worry about because i didn't know on buying the vehicle that there was any outstanding finance on it when i agreed to buy it,Ive also found out that hes not the one owing the finace either & hes had know problems.Rang the finance company up & they said dont buy it,it not his to sell.So rang the chap back to tell him what i have been told & he said rubbish,take a look at this web site that i did & it read.If the owner allowed the seller to give the impression that he was the true owner & the buyer was fooled by this,ME,then ownership will pass to the buyer.Also if the seller was acting on behalf of the owner,then again ownership will pass to the buyer.This is taken of a uk web site about law.where do i stand because i haven't got a clue.?????cheers for reading,i know it goes on a bit but i have tryed to cover everything.Thank again.

[Lastcall]

My best advice is to speak to Trading Standards and/or Citizens Advice Bureau and don't be coerced by this dodgy character into parting with any more money. The guy should return your deposit because the finance company and not the seller technically owns the vehicle and their advice is good...don't buy it! Hope this helps. Lu

[burtie]

Thanks for taking the time to respond.I wiil look & check first thing tomorrow & let you know how i get on.Cheers Burtie

[gouldc]

There is a fairly recent case law on this - Mitsubishi finance vs someone.

Basically it falls down to good title - ie who actually owns the vehicle.

In the eyes of the law, the finance company oown this vehicle until the agreement is paid in full. However, I come across so many of these where the finance company couldn't care less who has the car as the payments are still being made it's unbelievable.

On the flip side, the finance companies occasionally take some time trying to track down the car in question (to reposess it), and it can really bite you in the a55 if you;re unlucky enough to have purchased it.

Basically, don't touch it - if you (god forbid) have an accident and the car is written off, your insurers are obliged to pay the finance first (regardless of whether it's in your name), or the finance company could simply take it away from you.