Jump to content


New Car Has Bill Of Sale


style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 2970 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

G'day Folks,

I purchased a used car and received the V5 and also the MOT cert.

 

4 weeks after purchasing a car from a private seller

 

I have received a letter from Mobile Money claiming they have a financial interest in the vehicle and it is secured by a bill of sale.

 

I only paid £3000 for the car.

 

It turns out that the private seller I bought from is unaware of this issue.

 

He only had the vehicle 5 months and Mobile Money never approached him because,

 

1. He didn't take out the logbook loan and

2. He did not turn up on the system as a registered keeper.

 

The logbook loan was taken out in June 2012.

 

The car was then sold on.

It was sold on again.

It was sold on again.

Then sold on again to me.....

 

Mobile Money explained they cannot give me a copy of bill of sale as they are governed by the data protection act,

and so must protect the original customer.

 

So I am now negotiating a ransom settlement,

so that my car is not towed away.

 

How can this be happening in this country?:-x

Link to post
Share on other sites

  • 3 months later...

Hello, I may be wrong, but I have just come accross this: As from 1st February 2011 those Log Book Loan companies that are members for the Consumer Credit Trade Association have to adhere to a new code of practice, this new code of conduct covers debt collection, enforcement of arrears and innocent purchasers of vehicles with previous log book loans attached.

Log Book Loans Code of Practice

 

5. THIRD PARTY PURCHASERS

5.1 Members shall afford innocent purchasers of vehicles, that are subject to a Bill of Sale, the same protection as afforded under the Hire-Purchase Act 1964 Part III - „Title to Motor Vehicles on Hire-Purchase or Conditional Sale‟, but only insofar as title shall transfer to the innocent purchaser in the event that the Member failed to register his interest in that vehicle with a relevant Asset Finance Register Company within 24 hours of execution of the agreement.

 

Trust this helps, good luck.

Link to post
Share on other sites

  • 1 month later...
 Share

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...