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Reposessing a car

  • 14-11-2011 8:21pm
    #1
    minibusman
    Closed Accounts Posts: 2 ✭


    Hi

    I transferred a car to my wife as part of a separation agreement can the bank take the car or will they come after me as i have the loan in my name


Comments

  • #2
    Alanstrainor
    Registered Users, Registered Users 2 Posts: 23,157 ✭✭✭✭Alanstrainor


    Post moved to a new thread.

    Please don't drag up 5 year old threads.


  • #3
    -Corkie-
    Closed Accounts Posts: 10,025 ✭✭✭✭-Corkie-


    They will come after you for the money owed or take the car off your ex. Any finance due will be due to you.


  • #4
    mickdw
    Registered Users, Registered Users 2 Posts: 23,688 ✭✭✭✭mickdw


    -Corkie- wrote: »
    They will come after you for the money owed or take the car off your ex. Any finance due will be due to you.

    I would agree with this however if the car was granted to the wife as part of a settlement agreement, it would be looked upon very poorly and I would assume she could insist on it being replaced at your expense.


  • #5
    650Ginge
    Registered Users, Registered Users 2 Posts: 900 ✭✭✭650Ginge


    mickdw wrote: »
    -Corkie- wrote: »
    They will come after you for the money owed or take the car off your ex. Any finance due will be due to you.

    I would agree with this however if the car was granted to the wife as part of a settlement agreement, it would be looked upon very poorly and I would assume she could insist on it being replaced at your expense.

    Was it yours to transfer in the first place is it a loan or HP.


  • #6
    Atlantic Dawn
    Registered Users, Registered Users 2 Posts: 84,733 ✭✭✭✭Atlantic Dawn
    M


    I'd say it all depends on if it was his car in the first place and if the finance was secured on it or not and if it was a HP loan. If it was HP the bank will seize it from your wife as it was not yours to transfer but it's possible depending on the % owed that you may be able to make a settlement with them.


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  • #7
    ShadowHearth
    Registered Users, Registered Users 2 Posts: 22,929 ✭✭✭✭ShadowHearth


    I though you can't sell on cars, which still got outstanding finance on them?
    Does not bank still own it?

    I think they will come after you op and take car off your ex misses. I can see quite a huge **** storm in the future op.


  • #8
    Our man in Havana
    Closed Accounts Posts: 29,473 ✭✭✭✭Our man in Havana


    OSI wrote: »
    Unless the loan was secured against the car as part of the terms, the bank cannot seize it. And unless it was a HP agreement, the buyer owns the car and can sell it on as they please.
    Correct. Unless it is on HP there is very little that can be done.


  • #9
    minibusman
    Closed Accounts Posts: 2 ✭minibusman


    thanks all its on a HP Agreement so not sure whats going to happen


  • #10
    mickdw
    Registered Users, Registered Users 2 Posts: 23,688 ✭✭✭✭mickdw


    So was this car looked upon & treated as an asset when the agreement was being drawn up. If there was a hp agreement on it and much of the value of the car still owed, it wasnt an asset at all.
    I figure you will now have to provide this car or similar for the wife.


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