Logbook loans Car scrapped

housebuyer_abc

KingElvis wrote: »

Push your banger over a cliff and the debt is automatically written off, see the section IV, para VIII for the famous "cliff clause"

It's a small bit of legislation that the log book boys would like to see the back of.

I can't see that anywhere - what is it?

KingElvis

housebuyer_abc wrote: »

I can't see that anywhere - what is it?

It's hidden in a microdot above the letter i in the word misery, it's in all payday and log book loan agreements but it takes small print to a whole new dimension :rotfl:

In its most basic form it involves taking your clapped out banger to a suitable cliff (must be over 100ft high), releasing the hand brake and applying pressure to the rear of the vehicle.

You have to get photographs to prove you've done this, generally a picture of your log book loaned, barely road legal tin can in flames at the base of the cliff is sufficient.

As I said, it's all in the micro dot.

forgotmyname

Selling them a logbook for lots of money when a replacement is cheaper?

I presume they get you to sign something to say they now own the car if you do not pay?

Wonder if they can sue your 'friend' for criminal damage? It was not hers to damage. If its gets
scrapped is that theft also? Without the car i guess they cannot prove its been damaged though?

The mind boggles at the implications.

BLT_2

KingElvis wrote: »

It's hidden in a microdot above the letter i in the word misery, it's in all payday and log book loan agreements but it takes small print to a whole new dimension :rotfl:

In its most basic form it involves taking your clapped out banger to a suitable cliff (must be over 100ft high), releasing the hand brake and applying pressure to the rear of the vehicle.

You have to get photographs to prove you've done this, generally a picture of your log book loaned, barely road legal tin can in flames at the base of the cliff is sufficient.

As I said, it's all in the micro dot.

Whilst you are correct regarding the terms and conditions within the microdot, you have missed the additional terms and conditions which are contained within the microdot inside the microdot. In essence this states:

Para 2484 section 3427, sub para a: Where the car is driven over a cliff whilst in a ball of flame, payment will be due excepting on occasions where the driver is at the wheel when the vehicle hits the base of the cliff. In all such cases Log Book loans are entitled to recover the contents of the drivers wallet, any small change which may be located on the base of the car floor and such gold teeth as the late driver may have in his or her mouth.