QLD Buying a car that’s under finance

[Jeremyb1999]

I am looking at buying a car which has a 7 year PPSR which ends 12/12/2021. My question is whether I purchase the car after this date and register it in my name whether the finance company still has the right to repossess the car from me if they want to. I’m not sure on whether the person it is under finance with is currently still paying off the debt or plans to pay off the debt.

 

[sammy01]

Don't do it. If it has finance then the financer has grounds to recover the debt, then you're screwed. It is a 50/50 bet. Will the original owner pay the debt out like common sense says they should? OR not. Sadly, common sense aint that common anymore.