Log book loan possibility on car I have bought

[Motoforlife]

As some of you might seen about my previous thread. I bought the car however the previous owner is saying he can’t get hold of the log book due to his ex missus. She saying she doesn’t know anything about the log book.

I ran 2 hpi, the best ones and they have both come back clear of finance. Do they all show on hpi or is there a way round it?

I have gotn2 keys, as I guess the loan company would ask for one?

Just makes me wonder now as there’s 2 different stories. Shall I hide the car until
The log book comes back so no one can take it?

What are the chances, he did seem
Genuine and I know we’re he lives etc just getting paranoid as it’s 5k.

Thanks

[TriumphStag3.0V8]

If you have run two hpi checks from respected companies you should be fine. In fact i think some of them offer a guarantee.

Having the log book is not proof of ownership though, but is a good sign if and when it arrives.

[Monkeylegend]

I thought previous threads on here have said that log book loans don't show up on Hpi checks. I could be wrong though.

[cbmotorsport]

HPI suggest a log book loan would show up on their checks...

https://www.hpi.co.uk/content/advice-and-tips/logb...

[Motoforlife]

I did read that, and that’s the one I have just done recently. As said both come up clear, and I have 2 keys, know where the previous owner lives and his old address. Just making me think as he says she has it, and she says she doesn’t know anything about it.

He did give me £25 to get a v62 so seems strange. Just really hope I haven’t been done

[The Surveyor]

OP, did you get a receipt of this chap for the car, some form of signed acknowledgement that he was the seller, and you were the buyer. This would be a more effective proof of ownership than the V5c IMHO.

[Motoforlife]

I got a recipt and paid bank transfer. But I believe log book loan companies just toe the car away who ever it is as it stays on the vehicle

[PixelpeepS3]

HPI Website said:

Outstanding Car Finance & Logbook Loan Check
If you buy a car that has an outstanding loan or finance agreement against it then you are in danger of losing the vehicle and money you paid for it. This is a real risk when purchasing a second-hand vehicle, so using a car finance checker to look into its history is an important action to take.

All our HPI car checks include a car finance check, which will flag up any outstanding finance agreements that remain on the vehicle. This vehicle finance check will quickly let you know if the car, van or motorbike you’re after is safe to buy.

Did you use them for the checks?

[poo at Paul's]

HPI offer a guarantee on their searches, but only if you complete the whole thing, which includes, of course, the check of the V5 serial number! So without it, you have no guarantee, sadly, even though the purpose of the V5 serial number check relates to theft / theft of logbooks.

[tony wright]

Not a 100% sure, but I thought logbook loans retained one of the keys...

[TriumphStag3.0V8]

There is always the possibility that she is lying just to make you suspect him/be difficult, or as it is on the face of it that he is lying. The likelyhood is that he didnt take it with him during the split and she has no idea what/where the paperwork is. No point in discussing further with either of them really.

Either way the only thing you can do is wait to see if the V62 generates a V5. Means a couple of weeks wait.

I think you are worrying unnecessarily about a log book loan, as the HPI check shows it as clear - unless you think such a loan was taken out immediately before sale so fear the possibility it would not have come through on the check - You can always run another check now (they are not expensive) to see if anything has come through to satisfy yourself that all is well on the loan front.

[TriumphStag3.0V8]

tony wright said:

Not a 100% sure, but I thought logbook loans retained one of the keys...

Easy to get a second key made up, but that means lots of forethought and mallicious planning and it doesnt sound like that is the case here.

[Motoforlife]

Thank you all for you’re help. I did one of the checks the day before I bought the car 04/04/19 and another one today a week later. I spoke to hpi check who I did the most recent and as mentioned above, they can’t guarantee the search however from vin and number plate they can still check 99 percent of companies.

It would make perfect sense for a log book loan company to keep a spare key wouldn’t it?

So maybe it’s jusy me been paranoid, but it doesn’t help I got the car a lot cheaper than it should of been (it was damaged however)

So would you hide the car in a barn until the logbook turns up? Or just leave it on my drive and risk it?

Thanks again!

[TriumphStag3.0V8]

Motoforlife said:

Thank you all for you’re help. I did one of the checks the day before I bought the car 04/04/19 and another one today a week later. I spoke to hpi check who I did the most recent and as mentioned above, they can’t guarantee the search however from vin and number plate they can still check 99 percent of companies.

It would make perfect sense for a log book loan company to keep a spare key wouldn’t it?

So maybe it’s jusy me been paranoid, but it doesn’t help I got the car a lot cheaper than it should of been (it was damaged however)

So would you hide the car in a barn until the logbook turns up? Or just leave it on my drive and risk it?

Thanks again!

I'm not sure there is a need to hide it. Do you live near the seller? Why would they look for it near your house? Either way if you have taxed it with the v62 and it is showing up as taxed online, just use it and dont worry. When you get the v5 through you could run the check again if you wish just for total peace of mind but i think you will be fine.

[pidsy]

HPIcheck will only offer a guarantee and show the log book loan info if you do the £19.99 search.
The £9.99 search is very basic and offers no guarantee.

I’ve just done it on my new car.

[konark]

Logbook loan companies keep both the V5 and one key but, as others have said, not beyond the wit of man to get replacements, although the V5 will have a note on it that it is a replacement.

Logbook loans usually show up even on cheap HPI checks, but it's not guaranteed.

Possession of a V5 in your name won't guarantee the car won't disappear, it's not a proof of ownership.

At least you know the address of the seller and can sue him. It's technically a criminal offence to sell a car you don't own but try telling that to the police.

[anonymous-user]

pidsy said:

HPIcheck will only offer a guarantee and show the log book loan info if you do the £19.99 search.
The £9.99 search is very basic and offers no guarantee.

I’ve just done it on my new car.

And having V5, it is always in T&Cs for guarantee to pay out.

[Motoforlife]

TriumphStag3.0V8 said:

I'm not sure there is a need to hide it. Do you live near the seller? Why would they look for it near your house? Either way if you have taxed it with the v62 and it is showing up as taxed online, just use it and dont worry. When you get the v5 through you could run the check again if you wish just for total peace of mind but i think you will be fine.

Seen as how if a lbl company do come round to repo the car has gone!

It’s not taxed but it’s well back down my drive and obviously won’t be moving until I do get it taxed.

I’ll update the hpi with all relevant details when it does come through!

Thanks

[Motoforlife]

konark said:

Logbook loan companies keep both the V5 and one key but, as others have said, not beyond the wit of man to get replacements, although the V5 will have a note on it that it is a replacement.

Logbook loans usually show up even on cheap HPI checks, but it's not guaranteed.

Possession of a V5 in your name won't guarantee the car won't disappear, it's not a proof of ownership.

At least you know the address of the seller and can sue him. It's technically a criminal offence to sell a car you don't own but try telling that to the police.

Yes, That would be an effort but wouldn’t put it past someone dodgy.

I lost faith in the old bill years ago. I would probably win the case but cost more in court fees etc.

Let’s hope it doesn’t come to this, will keep updating it as I hear anything!

[blade7]

When I checked a few years back HPI would only cover you if the LBL company had registered an interest in the car, which apparently they weren't obliged to do.