BMW M3 - Purchasing a car that is been sold on foreclosure

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Thu 17 Jan 2013 23:47
BMW M3 - Purchasing a car that is been sold on foreclosure - Roboron

I am being offered a Mid 1980's BMW M3 by a Garage which is owed several thousand for works carried out by the orginal owner who is now deceased several months - he passed away while the car was still in the garage undergoing work. The vehicle (one of several) was left to the daughter of the deceased man. The garage owner contacted the daughter - via solicitor - some time ago offering the vehicle back in return of settlement of the outstanding money owed. The garage owner has told me that the daughter has shown no interest in the vehicle or settling the debt - and their solicitor is about to issue a final notification which - if not responded to or settled - will alllow them to sell the car off to recover the debts. The vehicle is in the posession of the Garage right now. Can you tell me if this sounds like the normal approach to foreclosure, fully legal and what I would need to do to ensure that (1) I pruchase the vehicle in full and am the legal owner and (2) what process is needed with the DVLA to get a new set of papers for the vehicle?

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Sun 27 Jan 2013 13:58
BMW M3 - Purchasing a car that is been sold on foreclosure - Palcouk

Any reputable garage will have T&C's that a vehicle is not released untill payment is made, and if payment is not forthcoming they reserve the right to sell the vehicle, recover their costs, and forward any balance to the car owner.

What you are seeing is not common, but not unheard of.

The garage appears to have followed this procedure with their solicitors and as such have a title to the vehicle, If you purchase from them I would expect them to handle the obtaining of any Registration papers from the DVLA.

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Mon 28 Jan 2013 10:26
BMW M3 - Purchasing a car that is been sold on foreclosure - leaseman

Fully acknowledge what you say Palcouk, but it would be sensible for the repairing garage, who have a lien on the car, to apply for a new V5 as they have a genuine claim to title. They can then sell the car to the OP, who will sleep easier, no doubt. This method will add an extra keeper to the history, but that may even help when time for disposal comes.

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