snatch back - "Log book loans " could seriously damage your

Honest John Back Room » Motoring discussion
View Threaded
Wed 18 May 2011 21:40
snatch back - "Log book loans " could seriously damage your - injection doc

this trend for people to take out whats called a " Log book loan " against their car and then sell the car on to some poor unsuspecting buyer is rather below the belt ! With these companies its only a volantry code of practice to register the loan against the vehicle so many poor unsuspecting buyers can buy a s/hand car only to have it snatched back with no recompence !

Be-warned

Reply | Report as offensive | Link
Mon 12 Sep 2011 21:14
snatch back - "Log book loans " could seriously damage your - Honda246

I have this very problem, purchased a vehicle in good faith and unaware of such issues. Have recieved a letter from collection agency and have spoken to them. The private dealer has assured me he has dealt with it but collection agency states otherwise and will seize the car.

What can I do? Cant afford to loose this car!!

Reply | Report as offensive | Link
Tue 13 Sep 2011 10:04
snatch back - "Log book loans " could seriously damage your - injection doc

I'm sorry to hear of your dilema, sadly its a lot more serious and common than people realise !

The loan on the car has to be repaid ! or you will loose your car, many have done already! May be your dealer that sold you the car has paid off the loan. The dealer who sold you the car would not be aware that there was log book loan on the car as its doesnt appear on the HPi checks ! so your dealer/seller has got caught as well !

Reply | Report as offensive | Link
Tue 13 Sep 2011 10:50
snatch back - "Log book loans " could seriously damage your - RT

I have this very problem, purchased a vehicle in good faith and unaware of such issues. Have recieved a letter from collection agency and have spoken to them. The private dealer has assured me he has dealt with it but collection agency states otherwise and will seize the car.

What can I do? Cant afford to loose this car!!

Firstly, what's a private dealer? Either the seller is a dealer or a private individual.

Either way, you surely have a claim against the seller - you'd best get legal advice.

Reply | Report as offensive | Link