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Purchased encumbered vehicle, whats my options now

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willsun1423 View Drop Down

Joined: 12/March/2017
Location: Australia
Posts: 1
  Quote willsun1423 Quote  Post ReplyReply Direct Link To This Post Topic: Purchased encumbered vehicle, whats my options now
    Posted: 12/March/2017 at 13:25
HI all,

My partner Purchased a vehicle in 2013 for the amount of $10000. We recently tried to sell the car and had one buyer interested. The guy ran an PPSR check and found out the car has finance owning from the previous owner and brought it to our attention.

We now are stuck in a situation where we don't want to sell to others with money still owning on it from the previous owner.

What Legal advise will you guys have for an headache like this?

Thank you for your assistance in advance.

citizen-joe View Drop Down
Senior Member
Senior Member

Joined: 09/October/2005
Location: Australia
Posts: 646
  Quote citizen-joe Quote  Post ReplyReply Direct Link To This Post Posted: 12/March/2017 at 19:17
From whom did you purchase the vehicle? If it was a licensed dealer, the dealer is liable for the outstanding amount, if it was a private sale you are liable but you can sue the seller for your losses.

henri View Drop Down
Senior Member
Senior Member

Joined: 07/September/2012
Location: Australia
Posts: 186
  Quote henri Quote  Post ReplyReply Direct Link To This Post Posted: 04/April/2017 at 13:08
Run your own check on the vehicle
Purchased in 2013 with money owed on it im surprised it hasnt been seized by the finance company from you already ?

About $25 for the check i think.

Edited by henri - 04/April/2017 at 13:13

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