Car Finance

[p4ulg]

Hi there
I purchased a vehicle on finance, i have paid more than half the total amount. I went on holiday an gave the car to a friend, well who i thought was a friend. I came home an found out the car has been wrecked and i do not know where it is an can no longer contact him. Do i contact the finance company? I do not want to mess up my credit rating as it is superb, and i also have 3 other vehicles on finance through other companys. What would be the best way to solve this, please help. Thanks

[sara3]

have you contacted the police? are you insured?

[bednobs]

err when someone has stolen your car, call the police you numpty!

[factor-fiction]

Yes you must tell the police and your insurer immediately.
I'm not too familiar with car finance but i suggest you tell the finance company as well. I expect they'll still need you to keep paying your finance

[twix123]

You will need to keep paying the finance company until the vehicle is paid for. You can't claim that the vehicle was stolen as you 'gave' it to your friend. Were they insured to drive it? If so, and if it can be traced, then you may be able to make an insurance claim, although the funds should be used for repair, or if a write off, paid towards your indebtedness to the finance company, who still own the vehicle.