Hire Purchase

Cagiva Mito · Renault 5 Driver Joined: 29 Sep 2004 Karma :

Hey all,

Ok i've got a question for you guys. Im hopefully gonna sell my bike this evening but the problem is i've still got a bit of HP left on it (about £800) Am I legally obliged to tell the bloke there is hp outstanding or not? If the sale go's through I will be banking the money first thing tomorrow and paying the hp off!

Normally I am a very honest bloke but I need to sell this bike asap and think telling him about the hp would put him off buying it!

I have checked with my loan company and I can sell the bike as long as the remaining hp is paid to them within 10 days!

Would hp on a bike put you off? Am I legally obliged to tell him?

Many thanks

instigator · Super Spammer Joined: 19 Oct 2004 Karma :

Tell him that there is HP outstanding, give him all the details so he can check himself. I'm sure theres some agreement you could come to whereby the bike is his, the money is yours but only if you pay it off. Let him be present when you do pay it off, that will ease any fears he has.

Or you could jsut let him pay the £800 to the bank and the rest to you and then you sign over the v5....?