I have a vehicle that I gave out as an hire purchase to a guy. The tenure suppose to be 18 months as mutually agreed by both parties. I found that he was only consistent at the early stage and since then it has been one story after the other. Now the 18months is about to elapse in 2months time and he has just paid up to 55% of the vehicle. What can I do at the expiration of the tenure. Am I legally permited to seize my vehicle and he forfeits all he has paid or renegotiate the terms for each additional month that my vehicle is with him. I need advise from experienced Nairalanders.

Since both of u did not sign any agreement legally, u can give him more time.

Depends on the terms stated in the agreement. Normally when there is such a breech of contract in Hire Purchase, the owner of the vehicle has the power to take back possession of the vehicle regardless of whether or not the purchaser has paid up to 90% before the breech.

Being sentimental only lies in your own hands as the owner but the agreement being legally documented gives no room for ignorance in the court of law.

What's d brand of d car? & is it tokunbo or naija used? If it's naija used 4get it ,u guys Will fight ,better let go.

Good afternoon, a