Unrecorded Stolen/Recovered
Discussion
Wondered if anyone had any experience of buying in this classification?
Scenario goes that a salvage company is selling a car I'm potentially interested in and it is an unrecorded theft with recovery shortly thereafter. There's apparently no damage and the key was taken from the owners home, therefore no forced entry either.
I'm told that it is HPI clear and have done my own mycarcheck search and it has come up clear on that as well, so I believe them thus far.
Main query is whether this is ever likely to come up on a database? I'm told that the owners insurance company offered to either return the car or give them a full value settlement which they took. The salvage company then bought it from the insurance company and selling for a circa 15% discount to what I would consider market value (£10k ish). Fairly rare model and otherwise would be exactly what i'm after.
I've not experienced this before and always prefer caution, but it the car checks out and I get an inspection to prove no damage then are there any risks I haven't thought of? The car comes with the V5, manual and service book.
Thanks
Scenario goes that a salvage company is selling a car I'm potentially interested in and it is an unrecorded theft with recovery shortly thereafter. There's apparently no damage and the key was taken from the owners home, therefore no forced entry either.
I'm told that it is HPI clear and have done my own mycarcheck search and it has come up clear on that as well, so I believe them thus far.
Main query is whether this is ever likely to come up on a database? I'm told that the owners insurance company offered to either return the car or give them a full value settlement which they took. The salvage company then bought it from the insurance company and selling for a circa 15% discount to what I would consider market value (£10k ish). Fairly rare model and otherwise would be exactly what i'm after.
I've not experienced this before and always prefer caution, but it the car checks out and I get an inspection to prove no damage then are there any risks I haven't thought of? The car comes with the V5, manual and service book.
Thanks
northernlight said:
Does the info on the MIAFTR2 database ever get released? I'm just concerned that one day in the future when I come to sell, it might get flagged up and I wouldn't want to get tarred with the same brush and values as Cat D.
Your average joe buyer doesn't have access to it, Experian have confirmed to me that stolen recovered won't show on checks either.Only companies with access can see the marker Insurance companies etc
However as the buying market can't get access to it it would be difficult for an insurer to argue the value is affected by something that the buying public would know nothing about.
ZOLLAR said:
If a car is recorded stolen and recovered and hasn't been deemed a catergory write off (A B C D) then it won't show on HPI checks that it was stolen and recovered.
A marker will be left on MIAFTR2 that it was stolen and recovered with no damage.
oohA marker will be left on MIAFTR2 that it was stolen and recovered with no damage.
how many other things are listed on MIAFTR2?
It's true that it's not a massive saving, but it's a fairly rare motor and they normally hold value fairly well. My view was this if someone had nabbed the key, taken it to change identity etc but been caught before they could do it, then there may be nothing physically wrong with it and if no ongoing record then it could be a good punt.
It's got 1 key (apparently the other is with the police as evidence, but has the MOT, V5 and service book. Also checked the service history with the previous dealers (it's a bmw) and seems to be legit.
It's got 1 key (apparently the other is with the police as evidence, but has the MOT, V5 and service book. Also checked the service history with the previous dealers (it's a bmw) and seems to be legit.
northernlight said:
Does anyone know if an insurance company will pick up on this when updating my policy for the new car?
There wouldn't be a need to check, not everyone in an insurance will have access.Only time they would become aware is if the car is stolen again or written off in an accident as they would be making a new entry and the old one would appear.
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