Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,193,957 members, 7,952,864 topics. Date: Thursday, 19 September 2024 at 06:00 AM

Hire Purchase Business - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / Hire Purchase Business (1945 Views)

Thread For Those Into Keke Hire Purchase Business (hirers And Owners) / How To Effectively Run A Hire Purchase Business - Okada To Be Precise / How To Start Keke Marwa Hire Purchase Business 800k - 850k (2) (3) (4)

(1) (Reply) (Go Down)

Hire Purchase Business by Godwin616: 5:53pm On Aug 27, 2016
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.
Re: Hire Purchase Business by frankyfranky(m): 3:31pm On Aug 29, 2016
Since both of u did not sign any agreement legally, u can give him more time.
Re: Hire Purchase Business by NickMarvel(m): 3:55pm On Aug 29, 2016
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.
Re: Hire Purchase Business by vpaymoney(m): 5:35pm On Aug 29, 2016
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.
Re: Hire Purchase Business by engrprinceka(m): 5:32pm On Jan 05, 2020
Good afternoon, a

(1) (Reply)

Bag Of Rice Now 15,000!!!! / How To Start Your Own Profitable Bitter Kola Export Business / Buying And Selling With 50,000#

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 13
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.