Just found out what Log Book loans are I think!

[Jan4a]

Hi

 

Not really clued up on this but am asking for a friend and this is what happened.

 

Friend bought a new car and gave her old one to her brother to use. She then found out (via local paper) her brother had been prosecuted for drinking & driving so she was furious and went and got car back but not log book, he said he couldn't find it. He had it because he'd told her he needed it for insurance or something.

 

Friend sold car to someone else for £1,000. New owner sent off for new log book as old one lost. New owner got up a couple of weeks later and car wasn't there. She reported it stolen. It turned out it had been taken by bailiffs and they had the log book as brother had taken out a £1700 loan against it.

 

Friend was devastated and has paid the £1,000 back to new owner. She is too embarrassed to do anything else.

 

Brother has of course disappeared so no idea what happened re paperwork etc. but just wondering how they knew where car was? Would DVLC have told them when they received new log book application? or did the bailiffs just drive around until they found it? New owner only lives about half a mile away from brother.

 

Friend was naive as her brother has always been a sh*t but she was very vulnerable as her husband died about a year ago. Hope he haunts brother.

 

Thanks for any help.

[LukaP]

I've just had a read up regarding these log book loans funnily enough. In some cases a tracker is fitted to the vehicle, which may have told them where it is. Seems a bit extreme but it's apparently the lenders method of securing the loan.

[Jan4a]

Hadn't thought of that - I bet that's how they found the car then.

 

Thanks

[postggj]

The Car Would Be Registered By A Bill Of Sale In The High Court

 

Dvla Would Have To Release Current Keeper By Reg Number