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My Online Car Purchase That Went Wrong!
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pan111
Posts: 90 Forumite
Back in 2001 I purchased a brand new exported car through an online broker for a knocked down price...quite a new but popular practice back then and still is now.
Unfortunately the company went bankrupt and I lost a large chunk of money...ie, all of it!
I went to court with the supplier (to the broker) of the car to determine ownership.
The judge ruled in favour of the supplier, as they had not been paid for the vehicle by the broker. The two directors of the brokerage were charged with Fraud and eventually trialled and sent to prison.
I had to resign myself to the fact that I would never get back any of the money that I spent on this car.
Fortunately my employer provided me with cover for my legal expenses as I wouldnt have been able to challenge for the car otherwise.
Looking back at nearly 6 years of toil after losing out a large chunk of money, I wondered what everyones take would be on that situation, and what advice would you have given me, had this type of forum been around back then?
The brokers name was Automodena...perhaps some of you were involved with it back then? ...there were a few hundred at the creditors meetings back then.
Looking at life today, I am finally in the financial position where I can buy my own property (moving into it in February bar any major issues) and have every aspect of my financial life under control with no debt, touch wood!
Im not sure this is in the correct forum section, so please move as you see fit moderators
Unfortunately the company went bankrupt and I lost a large chunk of money...ie, all of it!
I went to court with the supplier (to the broker) of the car to determine ownership.
The judge ruled in favour of the supplier, as they had not been paid for the vehicle by the broker. The two directors of the brokerage were charged with Fraud and eventually trialled and sent to prison.
I had to resign myself to the fact that I would never get back any of the money that I spent on this car.
Fortunately my employer provided me with cover for my legal expenses as I wouldnt have been able to challenge for the car otherwise.
Looking back at nearly 6 years of toil after losing out a large chunk of money, I wondered what everyones take would be on that situation, and what advice would you have given me, had this type of forum been around back then?
The brokers name was Automodena...perhaps some of you were involved with it back then? ...there were a few hundred at the creditors meetings back then.
Looking at life today, I am finally in the financial position where I can buy my own property (moving into it in February bar any major issues) and have every aspect of my financial life under control with no debt, touch wood!
Im not sure this is in the correct forum section, so please move as you see fit moderators
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