NSW Car Loan Fraud - Report to Police?

[Cameron 2000]

I took out a car loan on behalf of another person for a car. They said they would pay for it and that when their uncle arrived in sydney would pay the amount of the loan. This never took place and am left paying the loan. Vehicle is registered in their name. This is all documented in emails.

Am i able to report this as fraud to NSW police?

 

[Ivy]

No, your friend hasn't committed fraud, however you may have. The car that is registered in another person's name still technically belongs to the finance company/ bank.

Legally I don't believe you are allowed to register the car in another person's name without the finance company/ bank's permission first. I believe that the company may now be entitled to track down the vehicle and seize it from the "owner", leaving you with an unsecured loan.

If I were you I would draft a letter of demand to your friend and ask them for the car back.

 

[Ivy]

To clarify, your friend may have committed fraud however for the reasons explained above, you need to recover the car through a letter of demand or tell the finance company so they can recover the vehicle. I suggest that you contact a solicitor for advice.

 

[Cameron 2000]

Thank you for the reply Ivy.
i have already done statement of claim etc.

Am aware that if I do report it to the police they would need to investigate this matter.

I have documentation saying they would pay for it. At the end of the day is this not misrepresentation

 

[Ivy]

Look, it may be. But as I said, if you signed onto a car loan, then the car belongs to the finance institution until the debt is paid and you wouldn't have the right to register it in another person's name. So I suggest that whichever way you look at it, the liability ultimately falls with you.