Bought Stolen Car in Good Faith - what options I have? Pls help

tirfk

Hello there
I wish if someone can give me some advice. I purchased a stolen car in good faith only to be told y police a week later that its stolen and they handed over the car to insurance company who paid off to the original owner.
HPI wont cover me as its cloned car and the fact I paid in cash.
My insurance still weighing options. Police still investigating to find the fraudster.
I asked the insurance company who is the real owner of the car to sell it to me. They have quoted me almost the market price. I have lost a big chunk and they asking even bigger amount than that. I think the insurance company is playing a trick thinking am desperate to get the car but not at such a huge price tag.
Anyone can give some constructive suggestion in this regard?
Thanks

foxy-stoat

I am afraid not. Horrible situation to be in.

Mr.Generous

So if you have lost a big chunk, and they want even more - and this takes it almost to the market price …. Then how cheap did you get it?

What car, year, model and how much?

Did you meet them somewhere and hand over the cash or did they bring it to you?

What was the log book V5 situation?

tacpot12

The insurance company will have paid out nearly the market price to the original owner, so they are not being unfair in asking for close to the market price from you. They could sell it to anyone else, and anyone else would be happy to pay a little less than market price. Have you pointed out to them that you have paid for the car once already and could do with a break?

I don't think there is anything you can do to get your money back, other than to try to find the fraudster. No doubt they are perpetrating the same fraud on others. You might be able to identify them by looking for ads that include the same language as the ad you responded to. It will be very hard work though.

Aylesbury_Duck

If you need a car immediately, buy a really cheap runaround to get you by whilst you await the outcome of all of this. If by chance you get a resolution then your outlay is minimised because you can just sell the runabout. Sadly, I think your money's gone though.

tirfk

Its 12reg Audi Q5 9grand
Insurance wants 11grand
Met him at v5c registered address.
Finalised deal after couple of days cash sale.
Hpi check came clear and v5c doc legit.
Apparently it was stolen few months ago.
Its cat X and its real market value is around £12

wgl2014

Make a civil claim against the individual who sold you a stolen car.

tirfk

His numer no working and no one at address. Got his photo and video footage- gave to police

Mr.Generous

To get the V5 at the address he must have at least access to the property, worth £3 to get the land registry details. A £12k car for £9k sounds too good to be true.

tirfk

Guys
Its all done and I am suffering. There is no point in what I did and what i should have done etc etc; if someone who have gone through a similar situation in past or know who have gone- can you pls post some info which will be useful to me pls?
Thank you

worried_jim

Have you tried googling his tel number to see if it is linked to any other sales/scams?