What would happen if I fail to payback Hire Purchase settlement?

The insurance company or the lender may retrieve the car if the owner of the car has not completely paid off the loan

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When does the finance becomes an Outstanding Finance?

Finance turns into outstanding finance when the previous vehicle owner still has the finance to pay for the vehicle and still sells the car. In that case, the seller hides the financial information from the buyer to sell the vehicle. This is considered as a fraudulent activity when the financial information is not informed to the buyer. Free Advice: Before buying a vehicle check if a car is on finance. Types of outstanding Finance Hire...