Finding NEMO (DAT): High Court Firmly Closes Door on Meaning of "Disposition" Under the Hire Purchase Act 1964

    March 2013
    On 26 February 2013, His Honour Judge Mackie QC (sitting as a judge of the High Court) handed down judgment in VFS Financial Services Limited v JF Plant Tyres Limited [2013] EWHC 346 (QB) on an issue of importance for all asset and motor finance providers: what is a “disposition” for the purposes of Part III of the Hire Purchase Act 1964 (“HPA 1964”)? This welcome and pragmatic judgment makes it clear that unless money is paid for a vehicle, there will be no ‘sale’ meaning there is no ‘disposition’ (and therefore no potential for protection) under the HPA 1964.