Escy

What's the deal with these. Interested in a car, the guy is playing dumb, said he doesn't have the logbook (he's owned it a year). He says he thought the logbook was the owners manual. Maybe he's bit thick and it's all genuine.

I've never been fussed about logbooks in the past. I've bought and sold a few without and not had any issues. That was a few years ago.

These logbooks loans are a new thing. I'm wondering what the deal is with these? Do they take your logbook off you? Would a logbook loan show up on a HPI check?

I don't want to get done over on it and I know people can be desperate for money these days.

fuzzy

how did he tax it?

1.9 xr2 on 40's

i dont think they actually take the logbook but they put a lean on the car which will shown on hpi as a finance agreement.
they can (naughty) still sell the car private and i beleve there was a ruling to say that if someone is duped into buying a car with this lean the new owner doesnt get shafted but im not 100% so check up

matts1

I dont think they do show on the hpi do they? Not sure if the law got tightened up?

Mark_

They dont show up on HPI checks at present

Escy

I'm guessing he has never taxed it before? It's out of tax at the moment.

Escy

So they don't take the log book and it doesn't show on a HPI check?

Psycho Warren

iTrader: (5)

walk away

The problem with such loans is they are at the arse end of the finance industry so generally when it comes to debt collection you get the worst shysters and conmen doing it who will ignore all the financial guidelines and laws in terms of recovering the debt.

have a look on consumeractiongroup forums to see the kind of shit log book loans get up to

Escy

What do you mean walk away? If they don't show on HPI checks and they don't actually take the log book like I thought they did, it means any car could have one on.

One thing I am wondering is if I will be able to tax it myself with no log book? I've got trade insurance.

saph4be

they take the logbook, and they will not show on a hpi check

Psycho Warren

iTrader: (5)

Its more a case of walk away if you have grounds for suspicion its got one. The bloke being cagey about log book etc is all pretty suspect.

You dont want the hassle down the road.

sure if you wernt aware at all then its a risk you take. However id be of the mind that never buy a car without a logbook full stop.

Escy

Just seen more detailed photos of the car and it's a nail anyway