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Thread: HPI check is not enough

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    Regular Member nibblitz's Avatar
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    Default HPI check is not enough

    Did anybody see Watchdog last night? People who had bought used cars, all HPI check clear, but they still lost their cars to finance companies taking them away... Log Book Loans...

    http://www.bbc.co.uk/blogs/watchdog/...ook_loans.html

    Car owner secures a loan against their Car, its not Hire Purchase so isnt recorded as such, but the finance company still owns the car untill loan secured against it is paid.. Owner gets in difficulties, sells the car, new owner then loses when finance company trace it... Scandalous... As it is, any secondhand car you buy theres no way of knowing who legally owns it then, madness..

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    Regular Member m8internet's Avatar
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    Note, this only applies in England
    Therefore, if you want to avoid this issue purchase the vehicle in Scotland

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    i had a vectra took off me a couple of years ago due 2 this
    it took 4 blokes from finance company n 3 coppers nearly 3 hours 2 get the car off me tho lol (my head went)

    they then sold the car on ebay 4 less than £200 cos i ripped log book n mot up in there face

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    Regular Member Jezzy's Avatar
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    Quote Originally Posted by m8internet View Post
    Note, this only applies in England
    Therefore, if you want to avoid this issue purchase the vehicle in Scotland
    The Scottish have their own local difficulties, what with Arnold Clark and Peter Vardy having such a grip on the market.

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    Regular Member m8internet's Avatar
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    Quote Originally Posted by Jezzy View Post
    The Scottish have their own local difficulties
    At least if the car is sold in Scotland, and has had such an agreement applied on the car in England, it cannot be applied in Scotland
    The Police will be on your side, not those of the loan company

    In England the repossession agent requires to the Police to attend, in Scotland the process is entirely different

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    Regular Member Grumpy1954's Avatar
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    Quote Originally Posted by marc7 View Post
    i had a vectra took off me a couple of years ago due 2 this
    it took 4 blokes from finance company n 3 coppers nearly 3 hours 2 get the car off me tho lol (my head went)

    they then sold the car on ebay 4 less than £200 cos i ripped log book n mot up in there face

    Did you bid on it?

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    Ex Vec-C Admin & Founder GARY3306's Avatar
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    Quote Originally Posted by m8internet View Post
    ....In England the repossession agent requires to the Police to attend, in Scotland the process is entirely different
    Thats only to prevent a breach of the peace/act if there is one. The matter is civil otherwise.
    [SIGPIC]VX<font color=Red>R</font> with added Courtenay <img src=https://www.vectra-c.com/forum/images/smilies/biggrin.png border=0 alt= title=Big Grin class=inlineimg />

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    Quote Originally Posted by Grumpy1954 View Post
    Did you bid on it?
    no a mate showed me it after it ad finished

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    Regular Member nibblitz's Avatar
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    I wonder if its ever happened where 2 or more finance companies might all be owners of the same car.. Like, say owner 1 took out a log book loan, sold car, then owner 2 also took out a log book loan with another company... Would the respective finance companies just keep repossesing the same car from eachother until one of them got bored...

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