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i have been reading all your posts on this forum about log book loans for som months now. i have a loan on my car and wondered, can i sell the car to someone i know?
i plan to order a new v5, change the owner details and then 'hide' the car.
i have been reading all your posts on this forum about log book loans for som months now. i have a loan on my car and wondered, can i sell the car to someone i know?
i plan to order a new v5, change the owner details and then 'hide' the car.
where do i stand legally here?
much obliged.
Hiya
Does the person you are selling it to know you have the loan on the car? Do you plan to pay the loan off with money from sale? Are you actually selling it or just changing owner details etc then hiding it? I was in similar situation so if you could let me know i will be able to advise you.
Does the person you are selling it to know you have the loan on the car? Do you plan to pay the loan off with money from sale? Are you actually selling it or just changing owner details etc then hiding it? I was in similar situation so if you could let me know i will be able to advise you.
Nellie
Hi Nellie
Sorry for being so unclear- I intend to change the owner details, and then hide it but tell LBL I have sold it?
The finance can only be secured on the car if the agreement is lawful which LBL's are not although they do unlawfully register a charge with HPI, which HPI should NOT allow to happen but then they are not interested in the legalities only the fees they earn. Apart from hp the only other lender who has a legal right to place a charge is a licensed pawn broker
The finance can only be secured on the car if the agreement is lawful which LBL's are not although they do unlawfully register a charge with HPI, which HPI should NOT allow to happen but then they are not interested in the legalities only the fees they earn. Apart from hp the only other lender who has a legal right to place a charge is a licensed pawn broker
Sorry for being so unclear- I intend to change the owner details, and then hide it but tell LBL I have sold it?
If I am missing something here -I will apologise but to my mind there clearly appears to be advice being given out which is advocating some quite disturbing actions.
This site cannot allow posts to be made that can be seen to be condoning fraudulant or deceptive practices.
Can you just start using a little common sense before posting these suggestions.
Nobody is advising anyone to do anything, just answering questions posted and passing on knowledge of this company, who are, lets face it, [allegedly] ripping people off, for want of better words!!!
Apart from a few lighthearted suggestions about selling it down the Shankhill amongst others no one has suggested anything fraudulent. Also as LBL do not have lawful ownership of vehicle the rightful owner is well within his rights selling it to whom he pleases.
I think before anyone accuses others of offering fraudulent advice they 1st make sure that is what is being offered in the 1st place
I think before anyone accuses others of offering fraudulent advice they 1st make sure that is what is being offered in the 1st place
Originally Posted by oops!!
Hi Nellie
I intend to change the owner details, and then hide it but tell LBL I have sold it?
To clarify, the advice given might not have offered fraudulent advice, but the question asked certainly seems to indicate an intention to lie and deceive. The fact that no-one seems to disapprove could be easily construed as condoning the behaviour, and this is not something that will be tolerated on this forum, as some users already know.
Likewise, potentially libellous comments will be edited/deleted, as they put the forum owners at risk.
log book loans - can i sell the car?
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Originally Posted by oops!!
Re: log book loans - can i sell the car?
