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Bought a car with a loan on it

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09141111 View Drop Down
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Joined: 22/May/2013
Location: Australia
Posts: 5
  Quote 09141111 Quote  Post ReplyReply Direct Link To This Post Topic: Bought a car with a loan on it
    Posted: 22/May/2013 at 11:32
I'm an oversea student, I think I should apologize first if this post doesn't make any sense, or you don't know what I'm talking about. Just ask me if you don't understand, I will try my best to explain that.

Here is my story:

I bought a car from a local person privately for $11000, i didn't know that i can get a PPSR report before buying a car privately, which is the reason i have been in this bad situation.

Before buying the car, the seller didn't told me that there was a loan on it. I asked the seller to sign a paper which said the car has no financial interests recorded against it, has no defects or damages with it when buying the car. After purchasing the car, I got some information on google that I can get a PPSR report at the first place. Then I was shocked that the report said there was a loan on the car. So I contacted with the seller, he told me he could transfer the loan to his new car, but he then found he couldn't, as a result, I asked for my $11000+$506 back, the $506 includes $362 registration transfer fee, $50 mechanic test fee and $94 car insurance, he said he spent the money buying another car, he had no money. He asked me to wait for 6 months to let him pay off the loan, otherwise he had to sell his car and can only give me $7000 back and he would pay another $4500 by installment, he can't get another loan to pay off the car loan as well. The seller also told me that if i put him to the court, i won't get all of money in 3 years or longer.

So I was wondering that

is there any way i can get my money back soon?
if i let him to pay $4500 by installment, what should i do to keep him pay on time, or i can sue him if he is not?
where can i get free legal advice in Adelaide except legal aid?

Thanks in advance.



09141111 View Drop Down
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Joined: 22/May/2013
Location: Australia
Posts: 5
  Quote 09141111 Quote  Post ReplyReply Direct Link To This Post Posted: 22/May/2013 at 11:42
by the way: I already sent a final of notice letter to the seller by registered post last Friday, and i told the seller this on Monday, but the letter is still being awaiting collection in the post office.

StandTall View Drop Down
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Joined: 13/July/2011
Location: WA
Posts: 1223
  Quote StandTall Quote  Post ReplyReply Direct Link To This Post Posted: 22/May/2013 at 21:44
Typical result of not doing a encumbrance check. A mistake you will not make again.

NotGuilty View Drop Down
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Joined: 19/February/2008
Location: ACT
Posts: 1136
  Quote NotGuilty Quote  Post ReplyReply Direct Link To This Post Posted: 23/May/2013 at 10:25
The seller should not have sold the car to you. Do not negotiate with the seller. Ask for your money back now. If he doesn't give it to you within 7 days, sue him.

Do not listen to the seller's claims about taking 3 years to get your money back. With a court order, the new car he has can be seized together with other property he owns.

See a local community legal centre for assistance.
This post does not constitute legal advice and cannot be relied upon.

09141111 View Drop Down
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Joined: 22/May/2013
Location: Australia
Posts: 5
  Quote 09141111 Quote  Post ReplyReply Direct Link To This Post Posted: 04/June/2013 at 20:06
the seller says he has no money right now, his bank told me that we have to solve this issue in two weeks, otherwise the bank would repossess the car from me and force the seller pay off the loan. the seller told me if this happened, he would have no money to pay me back in a short term and if he declare bankruptcy, he said i would lose all my money.

can i sue the seller to ask for keeping the car and avoid his bank to repossess the car? as the seller says he has the ability to pay off the loan in one year.

MartinO View Drop Down
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Joined: 02/March/2009
Location: Australia
Posts: 13999
  Quote MartinO Quote  Post ReplyReply Direct Link To This Post Posted: 04/June/2013 at 22:55
See the previous answer, it is the best you will get.



I am NOT a lawyer. Anything said is NOT legal advice.

Please post your legal questions in a forum rather than sending a PM. Thanks.

Shelby12 View Drop Down
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Joined: 09/July/2009
Location: Australia
Posts: 133
  Quote Shelby12 Quote  Post ReplyReply Direct Link To This Post Posted: 12/June/2013 at 08:15
You do realise that if he defaults on the loan, the lender will come looking for that car and repossess it. Pay the money to see a good lawyer for a consultation - lesson learnt ?

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