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karllap

I unknowingly sold a car with a LBL

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Hi,

I swapped my Impreza for an Astra in March and since then I have swapped + money the Astra for a BMW, everything was fine until I got a phone call yesterday from the guy who took the Astra saying that it had been repossesed!

It turns out that the Astra had finace outstanding on it which he has been told was a log book loan. Whan I originally swapped my Impreza for the Astra I HPI'd the car and it was clear so I went through with the swap unfortunately the new guy who took the Astra didn't hpi it. I phoned the hpi company that did teh check and they have told me that they don't check for finance and advised me to use HPI or Experian when ever I do a check!(talk about after the horse has bolted).

Anyway the new guy with the Astra has been to the finance company and they told him there was £2700 outstanding on the car and to make matters worse before we have been able to sort anything out they have sold the car. It was taken on Wednesday night and sold by Friday.

Basically I need to know were we stand.

1st: Are the finance company able to take the car and sell it?

2nd: I can't get hold of the guy I bought the car from (suprise suprise) so were do we go from here

I must add that the new guy who had the car repossesed is although not happy in the slightest undersatnds that I was an innocent seller and we are working together to try and get it sorted out.

 

Thanks for any help

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I smell a rat - a very desperate rat. It answers to the names 'Iain', 'Barry' and 'Paul'!

It would seem LBL are pulling out all the stops to "trade" whilst they still can, it seems snatching 'recently sold' motors from unsuspecting owners under the auspices of the previous owner having a defaulted Log Book Loan is becoming somewhat epidemic.

Bear in mind: They snatch the vehicle without warning in most cases knowing the hapless police aren't interested in 'civil' and sell it in a couple of days (despite supposedly holding cars for a minimum of 5 working days after seizure), leaving the victim under the impression everything is above board and no time to get the car back if they discover it is not so. How many people has this happened to who haven't spoken on any forum? Tens? Hundreds?

 

It would be funny if it wasn't so serious!

 

In my opinion, if a company or repo agent are genuinely legally entitled to goods they don't operate clandestine dubious methods of seizure - they don't have to! That LBL operate in this way suggests they know full well they're on a very sticky wicket

Edited by Fleeced73

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Thanks for the reply, you are the second person now that has told me that the finance have to keep the car for a certain period before selling it.

Also I have heard that it has to be sold publicly. Is this the case and as they haven't done is it worth sueing them?

The actually amount owed on the car was actually £2400 and they sold it for £3000 to a garage. The car was actually worth about £4000.

Edited by karllap

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A 'garage' eh? It will be one of their 'contacts', and it is more likely that the car wasn't sold it was passed on to a third party to dispose of ASAP so that they weren't "in possession" of it in the event swift action is taken to make them return said vehicle(s)

It's happened before!

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