Been to the local auctions tonight, looking for a cheap car. Seems to be rather a lot that are put through by finance companies without documents - particularly logbooks.
But what are the implications of that? Firstly in terms of the car's history (are they simple reposessions?) and then practically; how easy is it to get a new logbook. Does the absence of a logbook mean that the car can't legally be driven on the road?
Any answers gratefully recieved, and thanks.
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i) without seeing it you carnt be sure of cars history is main implication
ii) its not illegal to drive without one but you must apply for one straight away, if you need a tax disk you will have to do this anyway to get one
iii) swansea will issue new log book no probs, log book has nothing to do with legal title to the car (ownership)
thing you need to ensure is that you are becomming the legal owner, that is someone in the chain hasnt nicked it
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You should be protected from receiving a stolen car when you pay the indemnity at auction.
Also at auction the reason that sometimes documents are missing is that the defaulter has held on to it when the car was repossessed by the HP company.
Bear in mind that if the user didn't pay his repayments for the car he is unlikely to have serviced it either!
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thank you both for that. But if not having a logbook is such a reasonably minor matter, howcome it wipes out so much of the cars worth?
And still on missing documents, if the car lacks an MOT certificate as well, then am i correct in assuming that there's no way it can be driven on the highway legally? If a car has passed the test and has a valid ticket, which, along with the logbook, is left in the hands of an irate ex-owner when the car is reposessed, is the car still legally speaking MOT'd?
Having seen some quite clean motors go for peanuts last night I'm seriously contemplating buying one. I just need to know if I can then shift the thing out of the yard and get it home without breaking too many laws. I don't suppose anyone out there has done this before, found it a doddle and got a great car for pocket change??????
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Have never seen a decent repo yet,regardless of price,you might just stand a better chance if its a company repo but be careful-very careful.As long as you are insured and have booked an MOT and drive straight there you will be ok,otherwise you are taking a chance.
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"how come it wipes out so much of the cars worth"
Its usually the fact that its been repossessed with no history and the mileage completly unwarranted. Propably never been serviced either.
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Plenty of sense here. Repossessions are usually snatched back without the keeper's knowledge so, if its a FIAT it doesn't come with a red key, very few will come with spare keys and unless the keeper kept the service history in the car they won't come with that either. But not all snatchbacks are dodgy and they can represent the best bargains of all for private punters for the simple reason they are too much hassle to deal with for most of the trade who want to buy on Friday, then sell by the next Saturday and put their money into something else.
HJ
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