discovered car was stolen recovered so has marker on it

[dingg]

relative non account holder here has discovered that the car he bought in March 23 was stolen recovered with minor damage to front and rear and sold through co part (he thinks) paid top whack for it 40k ish current value should have been approx 32k been told its worth about 12k from motorway who informed him of the status.

its on finance

garage he bought from has a couple of million quids worth of stock on sale currently

he's panicking because he needs the cash asap house purchase

best plan of action , legality of situation

any guidance on what to do gratefully received

tia

[Foss62]

First step is presumably to go back to the garage, who might conceivably have sold the car in good faith.

If it’s on finance then there wouldn’t have been any great influx of cash from selling it - so am a bit mystified by that bit.

[dingg]

He needs to reduce outgoings to satisfy new mortgage conditions

[BertBert]

Foss62 said:

First step is presumably to go back to the garage, who might conceivably have sold the car in good faith.

Not that it matters. If there's a liability there they take the responsibility whether it is in good faith or not

[dingg]

BertBert said:

Not that it matters. If there's a liability there they take the responsibility whether it is in good faith or not

Their website states all cars hpi clear rest assured you will have peace of mind etc etc

[ZX10R NIN]

Simple, speak to the dealership first & go from there

[dingg]

ZX10R NIN said:

Simple, speak to the dealership first & go from there

That's my first thoughts too, just wondering about the finance company aspect of the situation, obviously it's not worth what they thought it was.....

[Foss62]

BertBert said:

Foss62 said:

First step is presumably to go back to the garage, who might conceivably have sold the car in good faith.

Not that it matters. If there's a liability there they take the responsibility whether it is in good faith or not

Yes - I didn’t intend to suggest that they wouldn’t, merely that on being confronted with the evidence they might be only too willing to make amends. The other possibility of course, is that they intentionally concealed it - then the OPs relative might be in for a rougher ride.

[ADJimbo]

Just want to double check something__

Does the vehicle in question have a cherished-plate on it? I’ve seen this before - where a totally different vehicle became a write-off but the keeper obviously kept the cherished number, transferred his cherished plate to a new vehicle but the ‘write-off marker’ stuck to the cherished plate on certain reporting platforms even though the issue was against a totally different vehicle to the one bearing the plate today.

[dingg]

The car did have a cherished plate on when it was stolen recovered, the vin is shown clearly on the co part auction pictures.... No doubt it has been sold on a salvage auction then sold to my relative about 9 months later....

[andburg]

as ever, there is a distinct possibility the marker took way too long to apply and only went on after purchase.

another vote for speak to the dealer

[ADJimbo]

I just knew there would be a Cherished VRM somewhere in this mix.

It’s the dealers issue. Let them resolve.

Edited by ADJimbo on Tuesday 19th November 10:22

[dingg]

Car was stolen in February 22, don't know when it was recovered, he purchased it in March 23.

Looks likely his missus may be having an emergency cesarean today, her blood pressures through the roof and the midwife hss sent her to triage.

You couldn't make it up.

Talk about stress, selling a house, buying a new one, baby on its way and then this car nonsense to sort out :-0

[MustangGT]

Talk to the dealer as a first option.

As an aside I am also thinking he is being wildly optimistic in his valuation of £32k

Buy it retail at £40k over 18 months ago, expect to sell it trade now for £32k?

It would need to be very rare and a garage queen for that to apply.

[dingg]

He actually paid over 40k (43 iirc) for it and motorway told him expect minimum of 28k, retail is about 33k.

Not many of them about tbh.

Its been little used in his care as he's away from home 6 months of the year.

[sugerbear]

If it is on finance then speak to the finance company as well.

They will kick the dealership in the knackers and get the money back (they own the car until the last payment is made). If they dont they are liable if the dealership doesn't play ball.

[MustangGT]

dingg said:

He actually paid over 40k (43 iirc) for it and motorway told him expect minimum of 28k, retail is about 33k.

Not many of them about tbh.

Its been little used in his care as he's away from home 6 months of the year.

That is more reasonable £28k from £43k sounds okay

[littlebasher]

sugerbear said:

If it is on finance then speak to the finance company as well.

They will kick the dealership in the knackers and get the money back (they own the car until the last payment is made). If they dont they are liable if the dealership doesn't play ball.

That would be my thought, it's ultimately their asset and they will carry far more clout when resolving with the dealer.

[BlackStang5point0]

Similar'ish thread here have a read through but as others have said go back to the dealer first.

https://www.pistonheads.com/gassing/topic.asp?h=0&...

[dingg]

Things are developing, should be able to update by month end, all being well....