logbook loans scams

gregashsab

Apples2 wrote: »

Was the v5 present when purchased?

It was purchased with the logbook

gregashsab

Somerset wrote: »

Just watched the clip. Amazed that this is the law. I assumed a HPI would show all outstanding liens, but as you said, the payday loan co's do not have to register an interest and often don't - it's entirely voluntary. So there is absolutely no way of knowing if you're buying a car with a clear title !

Thanks for the link, The Goverment need to step in and put a stop to people getting away with things like this, Its like legalizing theft!

ihateyes

gregashsab wrote: »

It was purchased with the logbook

i would seriously be suing the prev owner.... he/she took a loan with logbook. it will have been explained the log book is taken to prevent sale for car. owner has applied for a new one..... knowing what they were doing was fraud.

Eonel

ihateyes wrote: »

i would seriously be suing the prev owner.... he/she took a loan with logbook. it will have been explained the log book is taken to prevent sale for car. owner has applied for a new one..... knowing what they were doing was fraud.

You would likely win your case, but given the type of people involved, I fear it would get you no closer to your money.

missile

gregashsab wrote: »

Anyone got any advice please, A friend of mine purchased a car for £5.000 only to find out 2 months later it has been taken off them because the car is on a logbook loan from the original owner, who sold it to a car front from which they bought it.The police say its a slim chance they will get their money back. Surly there must be a law from people doing this?

Your friend can take previous owner to court, but as has been said if they have no assets and no income, they could be ordered to repay @ say £1.00 per week .... which they do not pay.....

who sold it to a car front

Do you mean a car dealer? That would be great news for your friend, not so good for the dealer :rotfl:

gregashsab

missile wrote: »

Your friend can take previous owner to court, but as has been said if they have no assets and no income, they could be ordered to repay @ say £1.00 per week .... which they do not pay.....
Do you mean a car dealer? That would be great news for your friend, not so good for the dealer :rotfl:

It was the previous owner who sold the car to the car front that took the logbook loan out, But I think my friends best bet is to take the car front to court, and its up to the car front how they get their money back.