I have purchased a car in scotland that turns out it has finance owed on it where do i stand? help?

http://www.warwickshire.gov.uk/corporate...

see if this helps

I have purchased a car in scotland that turns out it has finance owed on it where do i stand? help?

Legally there is not much you can do but go back to the seller...if you can find them...You should always have an HPI check done on any car purchase.

I have purchased a car in scotland that turns out it has finance owed on it where do i stand? help?

I don%26#039;t know about Scotland, but in Canada, if that happens, than %26quot;you%26quot; the purchaser is now responsible for the debt. Look at it this way....a loan was taken out, with the car used as credit. If the original borrower stopped making payments, then the bank will have no recourse but take the car back...it doesn%26#039;t matter that the car is now yours.

I am sorry this happened. You should contact the seller, and if necessary contact a lawyer as well. Good luck with your situation.

I have purchased a car in scotland that turns out it has finance owed on it where do i stand? help?

Please say that you bought the vehicle from a trader if you did the Personal Property Securities Act (PPSA) protects consumers who buy vehicles from registered motor vehicle traders where there is an existing security interest over the vehicle.

If the security interest is not disclosed in writing to you, the law provides that you will purchase the vehicle from the motor vehicle trader free of any security interest. This means the finance company must recover their money from the motor vehicle trader, not from you.

If a security interest is disclosed, you will buy the vehicle subject to the security interest. This means the finance company has rights over the vehicle. So if you have bought the car privatly then unfortunatly either you have to pay off the exsisting debt or the credit company can reposses the vehicle.

Alway%26#039;s always carry out an HPI check before buying a vehicle, they cost 鎷?6 from the AA but could save you thousands.

Speak to your nearest Citizens advise centre for what steps to take next they may be able to help you a little more.

I have purchased a car in scotland that turns out it has finance owed on it where do i stand? help?

you should have got a finance check done before you paid for it you are screwed now !!