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Bought a car with Logbook loan unknowingly
Hi everybody I'm Frank I'm 27 and new here I would appreciate any advice about my issue! I have read online and come across a few people who have came across a similar issue but with different outcomes when would just like to see what legal advice i can get about my own situation before I do anything that might cause me any problems before the storm! So here it is...
I trade a few cars in my spare time to make a bit of extra cash .. my dad and brother also.. I am a named driver on my brothers traders insurance wich covers me to do so.
I 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!!!
I have now filled logbook in and sent it off just recently so not had that back yet.. but dreading what's going to happen when it is registered in my name. I bought the car in good faith unknowingly of this loan so what rights do I have? I'm afraid if I call them they will send me the bill.. and don't want them to keep harassing me form the car I purchased in good faith? Any help would be great because I don't want these loan sharks taking my car off me after spending 1400 quid on it and now I've sort of fell in love with it now after putting in all my hard work.
thanks!
I trade a few cars in my spare time to make a bit of extra cash .. my dad and brother also.. I am a named driver on my brothers traders insurance wich covers me to do so.
I 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!!!
I have now filled logbook in and sent it off just recently so not had that back yet.. but dreading what's going to happen when it is registered in my name. I bought the car in good faith unknowingly of this loan so what rights do I have? I'm afraid if I call them they will send me the bill.. and don't want them to keep harassing me form the car I purchased in good faith? Any help would be great because I don't want these loan sharks taking my car off me after spending 1400 quid on it and now I've sort of fell in love with it now after putting in all my hard work.
thanks!
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