cookie2b

well, where to start?

First of all i'd ust quickly lik to say we arrived in dec and are loving it work home and uni are all falling into place.

But and this is a huge but......
last jan I bought a beautiful new car with all the bells and whistles £21,000 worth in fact.(reason being i had no intention of changing it in the near future)

we had no idea that our immigration stuff would move so quickly! We hadn't even submitted our EOI at this point. Before we left I arranging shipping quotes etc confirmed with aa that it is NZ compliant.

When i bought the car i paid £4000 deposit and the rest was on a finance agrement. i have since paid £3000 in monthly installments.

a few weeks before we left I confirmed with the dealer that i would be taking the car and was advised i would need to aply for a certificate of compliance. And keep my uk bank account open. That was the end of conversation.

I have now arrived i called to ask if the cert could be requested via email?

To be told I could not take the car out of the UK???
My options as i was informed is to pay the outstanding balance in full (???) or pay 50% for them to reposses the car??? Neither of which is possible as our savings are tied up in th move, we can't borrow from the UK s we are here and can't borrow here as we are new?

Im totally confused at how a member of their staff could get it so so wrong and leave me in this position? I have now paid just over £7000 for te priviledge of driving my own car for a year just to have it taken away? and besides thi i love my car and really don't want to let it go?

any advice would be great has anyone shippeda car that had outstanding finance?

thanks


appologies for poor spelling.....typing quickly + ranting!

Markk

If you have it on finance (HP), you don't own it until you have paid your last installment. The lender owns the car until that point, which is why you can't take it out of the country. That is why it is called 'Hire Purchase' - HP, you are literally hiring it from the lender while you pay them back.

Jan n Neil

It should have been made very clear too you that a car will never leave the country with outstanding finance, you best solution would be to get a bank loan for house improvements ect and pay the car finance of with it

I,m afraid it,s the only way



Neil

hazeandsteve

Sister in law got a mate in Spain to hire hers out, long term, and the payments cover the HP.
You'll always lose money on new cars, and even more when financed.
Is it insured? Got a mate with a petrol can?

simonsi

AFAIK there isn't anything actually preventing you from physically shipping the car - indeed you could take it to France and leave it there, similarly outside the UK.

The compliance certificate needs to come from the manufacturer, I imported a VW and got the cert direct from them, request was via email (or fax), rely was via post.

If you keep up the payments to completion it will never become an issue.

The V5 MUST be in your name, it will be needed in NZ.

Don't rely on any dealer statements, the finance will not be with them directly.

cookie2b

this is kind of my thinking.....would they know? would nz imports do checks etc?

To come here hubby took a massive drop in salary around 60% less than UK, and i have gone back to uni so paying it off or loaning just isn't an option. I have money in th UK to cover the monthly payments. So how would they know???

I would rather keep my beautiful car and not have waisted soooo much cash on it than give up end up with a huge debt and no car.

The manufcturer are happy to give me a cert. so does the finance comp really need to know?

thanks for the constructive advice :0)

cookie2b

LOL yes it's insured Id cry if a petrol can went anywhere near her lol, We got a great deal they are worth more now than i paid because its a covertible and I bought it 'out of convertible season' and she's brand spankers so it would be a crime against cars for her to have an accident

although hubby would like your thinking

thanks though x

simonsi

Not to my knowledge and how would they do so??? If you can get it accepted for shipping then it will be delivered to NZ customs. When we brought ours over I don´t recall any such checks (but then we didn´t have any finance for them to find if they did).

When you import you will get a GST exemption if you have owned the car for 12mths or more - based on the purchase date and the earlier of the date you left the UK and the date the car left the UK.

On compliance, the car will be exempt from emissions standards again if it has been owned by you for more than 12mths BUT in our case compliance measured the time from purchase to the date it arrived at the docks in Auckland.

Consequently in our case we paid GST but didn´t have to worry about emissions.

When you get the car passed as compliant, double check all the interior trim is back securely, they have to have panels off to check the rear seatbelt labels....amongst other things.....

No problem

Markk

So, if you have the money to pay for it each month why not just pay it off?
Depending on your finance agreement you might even save yourself some money on the interest payments. The problem goes away then?

If the finance company do find out you may run the risk of having it repossessed? Be carefull!

cookie2b

I have enough money in the UK to pay it for the next 18months.......the following payments were then going to be sent back every other month through tor fx .

If i had the full amount I would clear it in a heart beat, like i said befor though with hubby's new job an me studying our income doesn't allow for it at the moment.

Jan n Neil

Neil and Iwere talking about this last night, and we decided that you would not get the paperwork you need because the loan you have is secured against that vehicle, rather like a mortgage is secured against a house.

Could you take out a non-secured bank loan, pay off the finance, and then you would own the car. The problem is that in UK law you don't actually own the car (yet). We did this - we used one final non-secured bank loan to pay off a vehicle, and now the bank loan is nearly paid off too We keep bank accounts in the UK and set up the DD, and used the little savings we left there to sort it out. We didn't pay off the whole loan as we needed the deposit on a house here.

Jan

Deepseamark

If you have a permanent resident visa and your car has a Whole Vehicle Approval Plate (mine is a 2004 model and it has this number) then you do not need a compliance certificate. I brought my car and motorcycle over in late 2009 without a compliance certificate for either. But you must have a permanent residence visa

Mark

Mark

cookie2b

Im really confused nobody seems to know what checks are made? online all i can see is that they check the ownership and safety, i called the manufcturer last night and they are more than happy to provide the cert?

im really not sure i have decided to go view some cars today and see if i can get over the loss of my baby.......if so il just transfer the cash and buy a new one out right! It won't be the same but...would be great not having a finance comp to deal with.

im just v worried about paying all that money to ship and it gettting stuck in port :0(

thanks guys

Jan n Neil

Sorry but I think the issue is not about the checks, its about the fact that the car is not actually yours yet

simonsi

I don't disagree but equally I'm not at all sure any paperwork required to ship the car is unobtainable due to the finance.

Whether it is hers depends on the detail of the finance, some agreements dealers push are simple loans and not HP...