Urgent Help Bought new Car but has Mobile Money debt on

mythdata123

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ihateyes

Sorry to say, but you will lose the car.

Once Mobile Money track the car down, they will lift it onto a recovery vehicle and its bye bye.

Personally id start to make it hard by changing the reg!???

I would also take this guy to a small claims court, if he is the person that had the loan against the car.... though your posts suggests he wont comply with a court order either.

DCFC79

Sounds like you will lose the car, for future reference you need to check if there is any finance on the car.

mythdata123

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oldhand

mythdata123 wrote: »

I have moved the car off the road on to private land away from my address, so they cannot just tow the car away now, I will fight to keep the car.

Do you think giving them all the guys current details will stop them coming after the car? and go after him for the money

I know now I should have had a hpi check done but I am not sure this would have flagged up as searching google finds other people who have bought a car and had a hpi done to then have the car towed away by one of these logbook lending firms.
They do not have to report to HPI by law it is just a code of conduct which some of the companies follow.

Sorry it seems you have lost out,the car was the lenders surety and its far simpler for them to take the car rather than chase him for the money.

CKhalvashi

DCFC79 wrote: »

Sounds like you will lose the car, for future reference you need to check if there is any finance on the car.

Although some don't show on a standard HPI check.

It needs to be reported to the police as fraud in this instance, too. You are a joint victim for now with the finance company.

As stated, it may be worth chucking a £200 private plate on the car to make life difficult for them.

CK

BobQ

OP I am not sure but I think the law in Scotland is different to E&W so that might be a factor.

I would speak to the loan company and ask them to produce proof of their interest in the vehicle. It could be that the loan is smaller than you fear? It might be easier to make them an offer as a compromise. If you do, you need to check that there is not another firm with a loan secured on the vehicle.

This may help which suggests that you do not always lose the car

http://www.thisismoney.co.uk/money/cars/article-2111066/Logbook-loan-second-hand-car-trap-One-outstanding-finance-YOU-liable.html

BobQ

Based on what the Mobile Money website says they hold the V5. If the seller gave it to you they may have committed fraud by falsely obtaining a duplicate from the DVLA and using it to sell the vehicle. Or did you just get a colour photocopy?

mythdata123

BobQ wrote: »

Based on what the Mobile Money website says they hold the V5. If the seller gave it to you they may have committed fraud by falsely obtaining a duplicate from the DVLA and using it to sell the vehicle. Or did you just get a colour photocopy?

I received the full log book from the seller which I filled in my address signed and sent the day after purchasing, the dvla sent me my log book with all my details about 7 weeks later.

I will check the link you posted

I will be calling them as soon as they open, (having to take time off work to sort this out)

Brassedoff

I am sorry to say no matter what you do, you will lose the car unless the finance company is willing to talk to you and accept an offer.

I suppose it depends on the price?

John1993_2

As others have said, it wasn't the seller's car to sell, so you don't have a valid contract, nor valid title to the car. The finance company may, possibly, be willing to sell it to you, but that'll be their choice.

If you'd carried out an HPI check then you'd have been able to pursue a claim against the HPI provider if finance had not been showing as owed, as well as against the seller. I think it very likely that you will now have to hand the car over and then try to pursue the seller through the courts (if you can find them) for a claim. I know that this is not much help now, but please, bear it in mind for the future.

Please don't do as others suggest and try to hide the car, or disguise it with a new plate. It's (unfortunately) not your car, someone else already owns it, and they should get it back.

May I ask, did you pay the full price for the car, or was it being sold cheaper than similar models elsewhere?