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Finding out if car has logbook loan?


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Well looks like some of you could well have missed a bargain!!

 

there are many reasons for not having a log book and it wouldnt be a killer for me.Now if the person wanted to meet at a service station then that would ring alarm bells but ive read nothing on this thread to believe the seller is in anyway dodgy as yet.

what is the reason given for not having the V5?

 

If your worried about its history the hpi the vehicle.

 

Id get more info from who the seller is than the v5 and their reasons for not applying for another book.There are many indicators of a dodgy seller but not having a v5 isnt one high on my list.

If the vehicle is registered to the seller get him to call DVLA in front of you and with his permission im sure DVLA would confirm it.

 

if i was happy with the charactor of the seller and their story then id be happy with a reciept and a look at some id.

With a hpi showing clear,a reciept and confirmation of who the owner is,its very very unlikely that you would ever loose it.

 

the hpi report would show the chassis number and mileage to chck against the vehicle.

 

That done id turn to getting a bit of cash off.

 

Hunch is often the best tool though.

 

---------- Post added 22-04-2014 at 15:38 ----------

 

 

Having a log book isnt proof of ownership either.

 

You still havent asnwered the question about making sure there is no log book loan on the vehicle. I thought the last time it was raised it was decided there was no surefire way of finding this out and therefore you are at risk from any private sale. This is just as important if not more important than lack of a log book.

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A HPI check would reveal if anyone had a financial interest in the vehicle but as already said, no log book = no proof of ownership.

 

No it doesn't.

 

The legislation surrounding log book loans means the debt does not have to be registered so will not show up on a HPI check 100% of the time.

 

There is a voluntary system where log book loans can be registered and picked up on the HPI system, but it's not used by everyone so some still slip through the net.

 

To help use a 1/2 decent document when buying the car, as you may need it to sue them later.

Something like this:

 

Here is the simple document that I use when buying or selling a car:-

 

 

AGREEMENT

 

1. This Agreement is made on Friday 13th NNNN between Billy Spiv (the Seller) and Johnny Keen (the Buyer).

 

2. The Seller agrees to sell and the Buyer agrees to buy JALOPY POS MARK XXIV registration number 1AM MUG for £LOOOOOOADZ (the Price) together with its tools, equipment, entertainment system, handbook [and the following spare parts: MOULDY COLLECTION OF OLD SHIZZ] (the Car).

 

3. The Seller acknowledges receipt of the Price. The Buyer acknowledges receipt of the Car.

 

4. The Seller warrants and represents to the Buyer that the Seller has unencumbered title to the Car and is entitled to pass that title to the Buyer and that the Car is not subject to any finance agreement or other encumbrance.

 

5. Otherwise, the Car is sold as seen and tested by the Buyer, without any express or implied warranty as to condition or suitability for purpose.

 

6. This agreement is governed by the laws of England and Wales and the parties submit to the exclusive jurisdiction of the Courts of England and Wales.

 

Signed and dated

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It's not a bargain if you've spent good money on something only to be worrying if someone is coming to take it away!

 

some worry when theres no need.

 

if a hpi doesnt show it up then the offending company who didnt bother to register its interests in the vehicle is very unlikely to make claim to the vehicle and win when a buyer has made all the checks it would be reasonable to make.

highly likely the company will chase the debtor not the new owner.

 

---------- Post added 23-04-2014 at 12:28 ----------

 

Remembers previous logbook loan debate.

 

well maybe you should spend your time a bit more fruitfully or keep quiet?

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