Just purchased new car, problem!!

[JonCris]

If you purchased the vehicle in ‘good faith’ which I think in your case can be established beyond doubt as you have evidence that checked for HP etc the vehicle belongs to you – period

 

You frequently do hear of such vehicles being returned to the HPco but more than often it’s because the innocent buyer doesn’t know their rights & the HPco rely on this

 

If the HPco want the vehicle back they will have to seek a court order which there’s every possibility they won't get

 

Nevertheless to avoid future problems I suggest seeing a consumer lawyer who will contact the HP co on your behalf explaining the situation whilst advising them that you now own the vehicle - so if they have any problems they should contact their client & not you

 

This way, as the payment schedule wiil almost certainly not be kept you avoid the problem of coming out of your home only to find it gone, snatched back by the HPco

[ukahmet87]

Guys thank you so much for your help, i will be taking your advice and contacting a consumer lawyer, and see what happens from there. Ill keep posting here to keep updated and get any further advice. thanks alot once again....

[Conniff]

All these post are assuming the second check was correct. If the op will get onto both companies and find out which one is correct then he can take it from there.

Until such time as it is known which check gave the correct information, I can't see the need to do anything, there's not really anything to do.

 

The first sms check may be correct so there is nothing to worry about at all, so why haven't you found out which check was correct ?

[JonCris]

Connif The reason he needs to do something is because if he does now't as you suggest & the original debtor fails to keep up the payments, as he most certainly will, (after all he sold a car still on HP) then the OP risks having the car snatched by the HP co at anytime. Then it will be the OP who will have to take costly court action to recover it

[fed_up_uk]

Connif The reason he needs to do something is because if he does now't as you suggest & the original debtor fails to keep up the payments, as he most certainly will, (after all he sold a car still on HP) then the OP risks having the car snatched by the HP co at anytime. Then it will be the OP who will have to take costly court action to recover it

 

This is my understanding of it as well, the car remains the property of the finiance company until the last payment is made. Effectively it was not the original owners to sell in the first place and the OP has therefore given the seller money for something they never owned.

[Filthy Monkey]

The companies who carry out HPI checks on your behalf generally provide a guarantee on their service, indemnifying the purchaser if their information turns out to be incorrect. You still haven't said whether or not you have re-confirmed the information with the two companies. This should be your highest priority - Double check the facts!! Out of curiosity, why did you decide to run a second HPI check after you purchased the vehicle...?

[JonCris]

This is my understanding of it as well, the car remains the property of the finiance company until the last payment is made. Effectively it was not the original owners to sell in the first place and the OP has therefore given the seller money for something they never owned.

 

That doesn't matter the OP owns it provided they bought in good faith & it wasn't a fell of the back of a wagon price

[JonCris]

The companies who carry out HPI checks on your behalf generally provide a guarantee on their service, indemnifying the purchaser if their information turns out to be incorrect. You still haven't said whether or not you have re-confirmed the information with the two companies. This should be your highest priority - Double check the facts!! Out of curiosity, why did you decide to run a second HPI check after you purchased the vehicle...?

 

Although prudent there is no legal requirement for a private buyer to check for any lien.

 

Nor is there for a dealer. - it's just that the courts consider that a dealer being a professional would be remiss in their duty if they didn't.

 

Also they don't want to get into a fight with an HPco by refusing to return a vehicle on the grounds that they purchased in good faith as I imagine the HP facility for their customers would all but disappear after word got around

[JonCris]

The companies who carry out HPI checks on your behalf generally provide a guarantee on their service, indemnifying the purchaser if their information turns out to be incorrect. You still haven't said whether or not you have re-confirmed the information with the two companies. This should be your highest priority - Double check the facts!! Out of curiosity, why did you decide to run a second HPI check after you purchased the vehicle...?

 

This is correct but are you not expected to pay an increased fee for this service?

 

Also if insured I suspect it would only be activated IF the HPco was successful in recovering the vehicle through the courts.

 

If you just hand it back or allow it to be taken without a fight you may void the policy as it may be considered that you did nothing to mitigate any potential loss

[ukahmet87]

Out of curiosity, why did you decide to run a second HPI check after you purchased the vehicle...?

 

to be honest, i done it out of curiosity, just to see what it looks like really..?

 

I have contacted both companies in regards to this and they say that they will both get back to me, however, whatever happens, ill send a letter to the finance company soon explaining the situation. According to consumer direct, i am entitled to a good title because i am the immediate innocent purchaser

[Filthy Monkey]

This is correct but are you not expected to pay an increased fee for this service?

 

Also if insured I suspect it would only be activated IF the HPco was successful in recovering the vehicle through the courts.

 

If you just hand it back or allow it to be taken without a fight you may void the policy as it may be considered that you did nothing to mitigate any potential loss

 

I can't comment on the company that the OP originally used, but as far as HPI is concered, this is what is included in their standard £19.99 service -

 

Guarantee summaryAt HPI, we work hard to ensure that the data we receive and manage is the best available but no data source is perfect. That's why your HPI vehicle check includes the HPI Guarantee. Subject to the HPI Guarantee Terms & Conditions, the HPI Guarantee provides up to £30,000(£15,000 for written off vehicles) reimbursement of financial loss you suffer arising from inaccurate or incomplete information we supply to you as part of the HPI Check. As you'd expect from HPI, the cover is the most comprehensive available today.

 

Here is a summary of the main conditions:

 

-You need to carry out the HPI Check yourself, before you buy the vehicle - the Guarantee is not transferable.

 

- You must supply us with the Vehicle Registration Mark (VRM) and the Vehicle Identification Number (VIN) to be eligible for maximum cover available under the HPI Guarantee. The HPI Guarantee will not apply if we advise you that the VRM does not match the VIN, so make sure the information you supply is accurate (pay particular attention to '5's and 'S's, '2's and 'Z's).

 

- Before you buy the vehicle, you must make sure that all vehicle details provided by HPI match both the vehicle and its accompanying paperwork, and notify us of any discrepancies. As a minimum, you must obtain and check the V5 registration document with us, using our Document Check facility, prior to purchase.

 

- You must check that all the VIN markings on the vehicle match each other and the corresponding V5 registration document.

 

- You must keep and produce to us on request a written receipt for your purchase, signed by the seller, containing the key information needed to identify the seller and the vehicle (e.g. the seller's name and address, the identity and mileage of the vehicle purchased, the date of purchase and the amount you paid).

 

- If you are buying the vehicle privately, you must buy it from the keeper, at the address shown on the V5. You must also check the identity of the seller.

You must buy the vehicle in a reasonably prudent manner (for example - claims will not be considered if you have paid 30% below the retail market value).

 

- The cover provided is based on the car's value. In the case where HPI provides incorrect data affecting vehicle title (such as theft or outstanding finance), the HPI Guarantee will cover up to £30,000, either in compensation or the costs needed to obtain good title to the vehicle (at HPI's discretion). In the case where HPI provides incorrect data affecting the vehicle's condition, the HPI Guarantee will cover up to £15,000 or 50% of the market value of the car, whichever is the lower.

 

- The HPI Guarantee does not cover the vehicle's descriptive information (including import status), mileage, value, V5 registration document checks, or if the loss has arisen as a result of a fraudulent transaction.

 

- The HPI Guarantee is valid for two years from the date of the check.

The vehicle must be bought and registered in mainland Britain (i.e. it excludes Northern Ireland). If it has been imported, HPI does not guarantee its history prior to arrival in this country.

 

- If you make a claim under the HPI Guarantee, we reserve the right to inspect the vehicle and to make the final decision as to its condition and value.[/Quote]

[Conniff]

Connif The reason he needs to do something is because if he does now't as you suggest & the original debtor fails to keep up the payments, as he most certainly will, (after all he sold a car still on HP) then the OP risks having the car snatched by the HP co at anytime. Then it will be the OP who will have to take costly court action to recover it

 

What I am trying to say is there may not be a problem to sort out, no one knows which check was correct. It will only take a couple of minutes to give the companies a ring.

 

We have all concentrated on the second check which says there is outstanding finance. That may be the check that is wrong, and there is no outstanding finance so this whole thread would have been for nothing.

[JonCris]

Connif with that I agree but sometimes we have to assume the buyer will check their info is correct before going off at a tangent chasing ghosts

 

ukahmet if it is still on HP I would not advise you contacting the HPco yourself. Once they know where you are I wouldn't put it past them to just turn up & take it away leaving you to go after them which would be costly

 

Invest a couple of pounds & ask a solicitor to do it for you. That way you won't be exposing your home address

[Filthy Monkey]

I'm with Conniff on this one. Contact the companies and verify the checks first to find out if there really is a problem before wasting more time, money and worry on this!