Author Topic: Car repossesion  (Read 2258 times)

louise

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Car repossesion
« on: Jul 27, 2009, 12:28:39 PM »
can anyone advise me of my position please,

i bought a car in dec turns out it has nothing but faults, the garage do take it back in (carcraft) but i have to pester and pester and as i dont live near them its a trek getting the car there and i usually ahve to wait weeks for a courtesy car to be available plus i dont trust the standard of work.

Its been in the garage now a dozen times and the faults still keep coming, i took to to a local garage and paid but the problem came back, on sat i replaced two tryes at a cost of £145 which i had to borrow but the fault linked to the tyres actually went worse so they have now said thats another job that needs to be done, the noise driving it is horrendous i coudltn get to over 50mph as the faster i go the louder the noise, there is also a smell from the engine, the windows cosntantly steam up and the engine makes a droning noise.

not only am i fed up witht he car im also in serious debt and can barley afford the finance never mind all these repairs, so the car is just sat there. i decided to let the finance company repossess it, i cant find another option my question is the finance owed is £4000 but the car is only worth £2000, what happens when its repossessed? am i still liable for any costs? im barley surviving at the moment and can see no way of paying and im really worried about bailifs coming and taking my stuff.

Im starting to feel depressed and im not sure how ill manage without a car, ir eally dont want to pay for a afaulty car i dont have anymore.


cuteadder

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Re: Car repossesion
« Reply #1 on: Aug 02, 2009, 08:05:02 AM »
your first problem is you went to car craft who have a bad rep for selling lemons and screwing you over, I mean how else do you afford a big building like they have and those suits the dodgy sales people have... I only try out cars there, I don't buy there...

ok, I have heard a few stories from Car craft... but you have to fight it... I think calling each day helps also at the same time write a letter each week

I have heard of people getting their money back, but this is a long shot
I have heard of people getting new cars, but do you really want another from them?
I have also heard that after a certain percentage of the finance is paid off you can call the finance company and say you don't want the car anymore... they just come and take it - read your paperwork as to what this percentage is...

but remember, both carcraft and the finance company are buggers and you WILL have to chase daily and get on their nerves so that they want to get you out of their hair and help you...

gordonblair81

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Re: Car repossesion
« Reply #2 on: Aug 03, 2009, 09:46:32 AM »
Louise,

Firstly the paperwork from Carcraft your agreement with them. On the top of the paperwork does it say "Hire Purchase agreement" or does it say "Fixed Sum Loan Agreement" ?

The only way you can return a car or have it reposessed is if the car is on hire purchase if a fixed sum loan then the car has already been paid for and you now have a personal loan.

As you have only had the car since dec it is highly unlikely you will be half way through the finance on the car so therefore could not hand this car back until half the agreed finance has been paid.(Hire Purchase only).

as for Carcraft i have heard of them but do not know much about them but as the previous poster says they are basically "cowboys in suits".

If the car was reposessed the car would be put to auction and the amount raised through the auction would be taken off what is outstanding to the finance,  For example - £4000 to finance, car sells for £1500 you would be left to pay the remaining £2500  which would become an unsecured loan this could also be included in any future payment plans to help with your other debts.

In regards to other debts you may have Louise there is a number of different sources you can gain help from firstly i would need to know your level of total unsecured debt ? Do you own a property ? are you in Scotland or England ?


Regards

Gordon Blair