RutlandFlyer Posted November 20, 2013 Share Posted November 20, 2013 I agree, the loan company is merely seizing back property that is legally theirs because the original seller has breached their agreement. The seller is the one who has committed fraud here, the loan company has done nothing wrong unless you can prove they were in cahoots with the seller all along (unlikely, but possible if the same guy has been repeating this trick?) The government should act to make sure these kind of loans have to be registered with HPi, but I'm not sure what they can do beyond that. I definitely won't be buying another car privately unless I know the seller personally, though. Some friends of mine bought a car with this kind of loan on it from a dealer a while back. They might've paid more than they would've from a private seller, but it was worth every penny when the dealer had to stump up a new car of equivalent value. Tell you what though, if this is the calibre of some of the people selling stuff on SF then I'm never going to buy anything of any value from here! Link to comment Share on other sites More sharing options...
999tigger Posted November 20, 2013 Share Posted November 20, 2013 I agree, the loan company is merely seizing back property that is legally theirs because the original seller has breached their agreement. The seller is the one who has committed fraud here, the loan company has done nothing wrong unless you can prove they were in cahoots with the seller all along (unlikely, but possible if the same guy has been repeating this trick?) The government should act to make sure these kind of loans have to be registered with HPi, but I'm not sure what they can do beyond that. I definitely won't be buying another car privately unless I know the seller personally, though. Some friends of mine bought a car with this kind of loan on it from a dealer a while back. They might've paid more than they would've from a private seller, but it was worth every penny when the dealer had to stump up a new car of equivalent value. Tell you what though, if this is the calibre of some of the people selling stuff on SF then I'm never going to buy anything of any value from here! I'd agree that they could legislate making it compulsory to register such a loan om the HPI register, but thats about it. In private sales it is the responsibility of the parties involved. Be careful who you buy from and make sure you ask the correct questions. If possible do the sale by credit card. Link to comment Share on other sites More sharing options...
Cyclone Posted November 20, 2013 Share Posted November 20, 2013 Its going to get worse ieven low end buyers and car auction buyers 6 month after buying car will be reposesed. The wont tell you the name address of the debtor so u can sue them as they say they not alllowed too Yet they find the new owner and addreess to steal car from them. Not theft, they legally own that car. If someone steals from ya house and u know who it is and steaal it back you can be dooing a offence No, recovering your property would not be an offence unless you broke in to recover it. These companies don't break in to your garage, that would be illegal. The loan companys are doing that. They should stick to debtor not innkcent usoecting buyers They are simply recovering property that they own. If the debtor sells the car the loan company should take action with debtor only. Not easy prey buyers . ---------- Post added 20-11-2013 at 11:12 ---------- The takes cars offvanyone disabled etc It's down to someone buying a car to establish that the seller actually owns it in order to sell it. Link to comment Share on other sites More sharing options...
J&JkaraokeDJ Posted November 20, 2013 Share Posted November 20, 2013 The loan company gives loans to anyone unlike banks. The will give cash for car to umemployed. Who canr pay 40 quid a week back. The unemployed person then gets duplicate log book or copy of it. Sells tge car on. This credit crunch is causing this too. This is going to worse people will buy from auctions sell it to log loans extra log books from dvla or pirate copies. Sell the car again. Default on loan payment. More log books lioans company setups better than prostitute pimping and legal. This nation will be run by loan companies thrieving on innocenr people and free cars given to them for low cost. Its got to stop now. Link to comment Share on other sites More sharing options...
999tigger Posted November 20, 2013 Share Posted November 20, 2013 Sorry m8 but if you make a private sale then you take a risk and its up to you to check. If you arent sure then go and buy from a reputable company who are under more legal obligations, offer greater protection, but are more expensive. You are blaming the wrong person. Blame the seller who you bought it from who knew there was a loan out on the car. Link to comment Share on other sites More sharing options...
J&JkaraokeDJ Posted November 20, 2013 Share Posted November 20, 2013 The hpi check neede updating too with owner check ---------- Post added 20-11-2013 at 13:21 ---------- If it owned by loan company it should tell u if a private house owner it should say private household ---------- Post added 20-11-2013 at 13:25 ---------- If ownier is loan company it should tell u address and contact number Link to comment Share on other sites More sharing options...
geared Posted November 20, 2013 Share Posted November 20, 2013 Yep legislation and forcing this stuff to be on the HPI check will sort it all out, I can't see why it's not been done yet?? Link to comment Share on other sites More sharing options...
J&JkaraokeDJ Posted November 20, 2013 Share Posted November 20, 2013 If owner unknown it should say that too Link to comment Share on other sites More sharing options...
alchresearch Posted November 20, 2013 Share Posted November 20, 2013 Apologies if its already been asked and I've missed it, but did you get or see the log book when you got the car? Did you get the car from a residential address? Please don't tell me you met in a car park? Link to comment Share on other sites More sharing options...
J&JkaraokeDJ Posted November 20, 2013 Share Posted November 20, 2013 A owner check will also help people find out if they owner after they paid loan of. Log book only says u the keeper ---------- Post added 20-11-2013 at 14:30 ---------- The prob loads of people out there only a keeper even if loan paid off . This is serious issue needs to sorted Police stop guys asking if they own the vehicle ---------- Post added 20-11-2013 at 14:31 ---------- Yes i still have log book in my name. They only wanted the car. Yes seller swapped log books with me ---------- Post added 20-11-2013 at 14:32 ---------- Scrap men wont take cars withno log book Link to comment Share on other sites More sharing options...
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