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Bought Car with Outstanding Finance

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  • 14-03-2010 5:08pm
    #1
    kerryman10
    Registered Users Posts: 87 ✭✭


    I just found out that i bought a car with finance outstanding.:(

    The car was bought privately and paid for with bank draft. The guy that sold it to me was not the registered owner.

    The seller sent the reg. cert to the dept. of transport but it came back to me as I never signed it. The registered owner didn't sign either.
    I now have the (unsigned) reg cert but have no contact for the registered owner (except the address on the cert). The seller won't return calls but i do know his address.

    What do i do next???...Will the car be taken off me??


Comments

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    #2
    Sponge Bob
    Banned (with Prison Access) Posts: 25,234 ✭✭✭✭Sponge Bob


    sue the cnut !!!


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    #3
    the_syco
    Registered Users Posts: 37,301 ✭✭✭✭the_syco


    kerryman10 wrote: »
    Will the car be taken off me??
    If the person who owes money to the bank stops paying the bank, yes. There was a similar tread here last week, I think.


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    #4
    jor el
    Closed Accounts Posts: 16,713 ✭✭✭✭jor el


    Am I missing something here? You bought a car, from someone who wasn't the owner, the owner hadn't signed the reg cert, so it's still technically still theirs, but you paid money for it, and there's outstanding finance.

    That's just bizarre, and completely crazy even. The car could be repossessed, and if it's not officially registered to you, then it's not even yours to start with.

    I think you've just given away a lot of money for nothing. This could actually be some sort of scam.


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    #5
    kerryman10
    Registered Users Posts: 87 ✭✭kerryman10


    I know! crazy! and stupid! I bought in a hurry and have no experience in buying cars:(

    It smells of a scam alright. I don't know what to do now. As the owner hasn't signed the cert then does that mean there is no sale? I paid by draft and know where the seller is. Can I sue the seller?


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    #6
    Sponge Bob
    Banned (with Prison Access) Posts: 25,234 ✭✭✭✭Sponge Bob


    You can cancel the draft pronto is what you can do. Bank in morning!

    With Finance the bank/finance company owns the car until it is paid off in full. Not negotiable!


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    #7
    matchthis
    Registered Users Posts: 1,874 ✭✭✭matchthis


    Try liveline, Im sure there are others this has happened to. Can't believe someone would do this. Cancelling the draft as the poster above would be utmost priority. Even give your 24hr bank a ring to hold payment on it till the banks open. Good luck op


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    #8
    whippet
    Registered Users Posts: 7,687 ✭✭✭whippet


    matchthis wrote: »
    Try liveline, Im sure there are others this has happened to.

    Of course, why do anything until you have asked Joe Duffy what to do and had everyother moron who listens call in to tell you about everytime they gave away money stupidly.

    Liveline is a show which is just a forum for idiots with pains in their arses to discuss similar pains with other like minded idiots!!!!!


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    #9
    jor el
    Closed Accounts Posts: 16,713 ✭✭✭✭jor el


    I don't think you can cancel a bank draft. A cheque yes, but not a draft. You can sign an indemnity to say it's been lost or stolen (but it hasn't in this case, so you shouldn't do that) and even then, if the draft turns up, it will most likely be honored. You should ask in your bank, but I'm sure this is the case.

    You'll probably need to consult with a solicitor about a possible civil action, or let it go. Also, given that the car is not legally yours (it's still registered to the old owner and they haven't signed it over to you), you should mention this to he solicitor too. That could be a real sticking point.


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    #10
    91011
    Closed Accounts Posts: 1,383 ✭✭✭91011


    It is possibel to cancel a bank draft - you'll have to state that you'll take rsponsibility for the debt if it is cancelled incorrectly and the bank may not refund the amount until the issue is settled to their satisfaction.

    It will have to be done today as once it goes to 3days many bank accept that it is cleared. - Drafts require clearance just like cheques, but are seen as safer for payment as they are written by a bank.

    Go directly to the bank branch that issued the draft.

    edit - just realised that as the OP got the cert back from dept envir, then its at least a week since the transaction so draft can't be cancelled.


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    #11
    Sponge Bob
    Banned (with Prison Access) Posts: 25,234 ✭✭✭✭Sponge Bob


    nothing to lose trying to cancel draft !


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    #12
    kerryman10
    Registered Users Posts: 87 ✭✭kerryman10


    Sponge Bob wrote: »
    nothing to lose trying to cancel draft !

    Too late to cancel the draft i'm afraid.

    I have been in contact with the seller and threatened to take legal action unless i receive clear title. He said he was unaware that there was finance outstanding on the car and that it was from the owner before him. He says that he paid cash for it and was only selling it on.
    He also said that he didn't realise that the guy that sold it to him didn't sign the reg cert. In fact I didn't sign the cert either (but i did fill in my details).
    He seems like a genuine enough guy and think that he might have been stung aswell.

    I really love the car and i'm tempted to change my contact details on te cert, sign it and send it off...Is this a bad idea??? If I did keep the car would it be reposessed and how would my insurance company view it?

    I know I may be asking alot of stupid questions here but really what i need to know is whether to hold on the the car I love or to try and sue the guy that sold it to me instead:rolleyes:


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    #13
    mickdw
    Registered Users Posts: 23,367 ✭✭✭✭mickdw


    Given that you were so careless in how you purchased it, Im hoping that it was a relatively cheap car. If it was a 2 to 3k car well lesson learned. If it was a 40k car, well I dont know what to say.

    If the seller is as genuine as you feel he is, he will be giving you the cash back. Cannot see that happening though.

    Perhaps the seller was acting for the owner in a scam. He then takes a ball of cash from you & fully intends to turn up and take HIS car back. Could be a nice little earner


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    #14
    jor el
    Closed Accounts Posts: 16,713 ✭✭✭✭jor el


    Something certainly doesn't sound right. If he had a vehicle cert that was still in the previous owner's name, and there's outstanding finance, then the car wasn't his to sell in the first place. It does sound like some sort of con, or just people trying to move on a problem that they got stuck with themselves.


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    #15
    kerryman10
    Registered Users Posts: 87 ✭✭kerryman10


    jor el wrote: »
    Something certainly doesn't sound right. If he had a vehicle cert that was still in the previous owner's name, and there's outstanding finance, then the car wasn't his to sell in the first place. It does sound like some sort of con, or just people trying to move on a problem that they got stuck with themselves.


    I think it may be the latter as the guy that sold it to me is not hard to locate and neither is the previous owner.
    Either way I think I have grounds to sue the seller as he didn't own the car in the first place.


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    #16
    kerryman10
    Registered Users Posts: 87 ✭✭kerryman10


    Sponge Bob wrote: »
    sue the cnut !!!

    Anyone know a good solicitor?


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    #17
    91011
    Closed Accounts Posts: 1,383 ✭✭✭91011


    kerryman10 wrote: »
    Anyone know a good solicitor?

    Make a complaint of fraud to thhe local garda station.

    It is a criminal offence to obtain money by deception as seems the case her.

    If it was becasue you were sold a car with engine problem it would be a civil matter, but the person who sold it to you KNOWINGLY sold it to you when it wasn't his to sell. - Thus a fraud has been commited.


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    #18
    Grumpypants
    Registered Users Posts: 7,870 ✭✭✭Grumpypants


    Have you tried contacting the previous owner who owes finance on the car ? perhaps he sold the car to clear the bank, the guy that bought it off him just bought it to sell so didnt sign it over.

    It sounds more like people that dont know how to sell cars rather than a scam to tell the truth.

    There is far easier ways to scam people, giving people your correct home address isnt a good start to a scam.


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