If you have recently bought a car with outstanding finance on it, you could end up getting into a lot of trouble with money, the law, and you could potentially even lose your new car. That is why it is so important to act fast – as soon as you learn that there is unpaid finance on it you should contact a solicitor for legal advice.
Outstanding finance: what is it?
Some people choose to buy a car on finance, which means that they pay monthly for the car and spread the cost of the purchase. When someone chooses to do so, they do not legally own the car until the final payment is made to the finance company. Before they take the car away they will sign a contract called a Hire Purchase Agreement, which will outline the date of purchase and the end date of the contract. A … Read more