The hire purchase act of 1964 gives rights to consumers purchasing vehicles subject to hire purchase agreements. Under a HP agreement the financial company owns the vehicle until the end of the agreement.
If an individual has a vehicle on hire purchase and sells the vehicle to a private individual who is not made aware of the hp agreement the purchaser gets ‘good title’ to the vehicle. If this is the case the only recourse the financer has is against the original loanee and any trade buyers or sellers in between.
The hire purchase act of 1964 is simply a piece of legislation that protects private buyers of vehicles.