BMW 3 Series Coupe E92 - Car Brokers and 2nd Owner Retained Log Book Deals

Honest John Back Room » Legal matters
What is life like with your car? Let us know and win £500 in John Lewis vouchers | No thanks
View Threaded
Tue 8 Mar 2011 10:07
BMW 3 Series Coupe E92 - Car Brokers and 2nd Owner Retained Log Book Deals - Chris23

I am looking at one of the new car broker deals where they keep the log book for 12 weeks so that the vehicle manufacturer doesn't claim back the discounts that let them give me the price that they are offering & I become the 2nd owner BUT

Are there any dangers???????????????

I would be invoiced for the car, & pay for it, at the time of delivery which would make it my car but the log book would still be in their name. The recent HPI publicity regarding "mortgaging" log books has made me think that there might be things that they could do with the log book in those 12 weeks that were not in my interest.

I would appreciate legal advice about this whole process which appears top be very common.

I am aware of the insurance issues.

Chris

Reply | Report as offensive | Link
Tue 8 Mar 2011 11:49
BMW 3 Series Coupe E92 - Car Brokers and 2nd Owner Retained Log Book Deals - LucyBC
How it works here:
www.firstregisteredowner.co.uk/html/pre_reg__proce...l

Pitfalls here:
www.firstregisteredowner.co.uk/html/the_risks.html
Reply | Report as offensive | Link
Tue 8 Mar 2011 11:59
BMW 3 Series Coupe E92 - Car Brokers and 2nd Owner Retained Log Book Deals - Chris23

Sounds very dodgy!

Thanks

Chris

PS If it is so dodgy why does Honest John include so many of these deals in their new car deals pages?

Reply | Report as offensive | Link
Thu 10 Mar 2011 13:11
BMW 3 Series Coupe E92 - Car Brokers and 2nd Owner Retained Log Book Deals - zango

It's not a problem.

If you have a lease car theses days then you do not get the logbook and are therefore are not declared as the legal keeper.

This is why lease companies include free road tax in the deal.

I have also bought a new car personally with 3 month log book retention. Again no problems. It felt good beating the system!

Reply | Report as offensive | Link
Thu 10 Mar 2011 14:36
BMW 3 Series Coupe E92 - Car Brokers and 2nd Owner Retained Log Book Deals - LucyBC

Not being listed on the logbook can be a big problem with some insurers. I have a client at the moment facing total loss on a car which caught fire because the insurer is claiming she did not have an "insurable interest" as she was not on the logbook. Furthermore her finance company are suing her for the settlement value rather than the value of the car. The OP asked for the risks and I think they were outlined pretty well in the two links I posted. Not every deal will go bad but there is a heightened risk to any deal which involves the retention of the logbook.

Edited by LucyBC on 10/03/2011 at 14:37

Reply | Report as offensive | Link

We give you the low down on how to save on insurance, little-known tricks and tips, what insurance groups mean and how to use insurance aggregators to beat insurers.

Insurance group finder and how to save on insurance

From which small car to buy at which price point to the best UK-built cars, our Top 10s have the lot. Click now for your shortlist.

Unsure of what to buy? Our Top 10s are here to help you....