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Logbook loan
Hi ..
I do a bit of trading in my spare time with cars and vans and put a post on Facebook 'cars and vans wanted to buy dead or alive " and a friend who I've known for a few years but not seen for a while inboxed me with a car he wanted to sell.. It was a Hyundai Veloster in black with a rear end shunt wich hadn't gone through insurance .. and been sat with no mot for a long period of time with knackered tyres and brakes all round and in a bit of a sorry unloved state .. so I offered bare minimum to take it off his hands.. to wich he was grateful for because apparently he needed the drive space. . So agreed to collect the car the following day on my recovery truck with the cash that we'd agreed on.
got to the car and assessed damage.. said a guy went into the back of him and he didn't go through insurance bladyblah etc etc..Bought the car from London a few years ago for 4k.. and I got it for what I thought was a steal at only 500 pound, got the logbook etc ..gave him the cash loaded the car and headed home chuffed and looking forward to start work on the car.
anyway , booked car in to repaired .. done the brakes and tyres, had the wheels powdercoated, given it a full valet in and out and a mop and now car looks superb and thought for what I paid for it I'll keep this one.. all in all owed me 1400 pound.
now here's the nasty part... my brother kept getting on to me to do a hpi check on it because he said it was too cheap.. so one night after work I did a 16 pound check and to my horror it came back with a logbook loan taken out in 2017 and a category D write off repaired in 2016... bummer!!!
what legal grounds do I stand on as I bought car in good faith and therefore now have good title of the car?
I do a bit of trading in my spare time with cars and vans and put a post on Facebook 'cars and vans wanted to buy dead or alive " and a friend who I've known for a few years but not seen for a while inboxed me with a car he wanted to sell.. It was a Hyundai Veloster in black with a rear end shunt wich hadn't gone through insurance .. and been sat with no mot for a long period of time with knackered tyres and brakes all round and in a bit of a sorry unloved state .. so I offered bare minimum to take it off his hands.. to wich he was grateful for because apparently he needed the drive space. . So agreed to collect the car the following day on my recovery truck with the cash that we'd agreed on.
got to the car and assessed damage.. said a guy went into the back of him and he didn't go through insurance bladyblah etc etc..Bought the car from London a few years ago for 4k.. and I got it for what I thought was a steal at only 500 pound, got the logbook etc ..gave him the cash loaded the car and headed home chuffed and looking forward to start work on the car.
anyway , booked car in to repaired .. done the brakes and tyres, had the wheels powdercoated, given it a full valet in and out and a mop and now car looks superb and thought for what I paid for it I'll keep this one.. all in all owed me 1400 pound.
now here's the nasty part... my brother kept getting on to me to do a hpi check on it because he said it was too cheap.. so one night after work I did a 16 pound check and to my horror it came back with a logbook loan taken out in 2017 and a category D write off repaired in 2016... bummer!!!
what legal grounds do I stand on as I bought car in good faith and therefore now have good title of the car?
