Those unlucky enough to contemplate buying a car from any private seller on here or local rag, corner shop, by word of mouth, dealer whatever means you decide to employ you may buy with AA RAC PAY PAL EBAY vehicle check system.
You may feel safe with the report you receive ONCE UPON A TIME YOU WOULD HAVE BEEN GUARANTEED THAT THE Hpi CHECK WOULD VALIDATE ALL & ANY INCUMBENCIES CONNECTED WITH Chosen Log Book Attached Motor Vehicle. ( All The Usual Checks Are Still Valid )
Today With The Unmonitored Unregulated Unregistered LOG BOOK LOANS You are so VULNERABLE...
A Couple Of Reputable Companies have Followed Recommendation To record Their L.B. L
A Some Reputable Lenders Have Volunteered To record Their Dealings , And Fully Compliant With Registration Method,.
The Smaller Companies & Unscrupulous YOU MUST BE AWARE.
You are not Protected if you give it a try The Same Rules Apply Money Owed this vehicle IS NOT YOURS the Person / Persons Unknown Who Loaned Money On Their Vehicle Have Equal Power That The HP snatch Back Team TO SNATCH IT BACK
And Leave You with ZIP
Or Not Quite ZIP:
You Can Retain a Lawyer To represent You And with Tough negotiation And A Wad Of Cash, that Is additional Cash, That You have Just paid Out to Buy That vehicle YES YES YES More money.
To GET IT BACK:
If The R E P O Man Is willing to Negotiate With Your Representative NOT THE LOG BOOK LENDER.
You may be able to retrieve your purchase.
Members should afford innocent purchasers of vehicles, that are a subject to a Bill of Sale, the same protection 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.'
HPI CHECK ( Go to HPI check First )
If a customer conducts an HPI Check – which costs £20 via the website – and subsequently finds that the vehicle is subject to a ‘Bill of Sale’ agreement that was not flagged, the buyer will be protected by the HPI guarantee, which provides financial reimbursement of up to £30,000.
The LEGAL SIDE What Does This Mean precisely What recourse does this information leave you
Head Of Ccta
Said that this translates as those who 'innocently purchase' a second-hand car in 'good faith' will gain the deeds to the car.
The logbook loan lender can then sue the original debtor rather than the innocent party who has bought the car.
Precisely how one enforces this the buyer will have to investigate ( the reader will have to help her / him self )
BE ON YOUR GUARD LOG BOOK LOANS AGAINST YOUR PURCHASE
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18 March 2014
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