Read This! Encomberance Checks!

[slipperywhenboosting]

I bought a rx7 three years ago and have since rebuilt the car from the ground up, put in a s5 13b turbo, completely overhauled the interoir, 18" mags, custom paint job, custom bodykit and lots of electronics and motor upgrades. Over $15000 was spent.

Two weeks ago i received a letter from savings and loans saying i must surrender the car to them due to an unpaid loan. i didn't understand this because i paid for the car outright. when calling them they told me that a loan was taken out six years ago for the car by a past owner and $5900 was still owing.

After seeking legal aid i was told i could either pay them $5900 or surrender the car. due to financial diffuculty as i am now a uni student and no family member or friend willing to help me out i had to give up the car.

Legal aid asked why didn't i get an encomberance (outstanding loan) check done on the car when i bought it. being ninteen i had no idea such a check could be done.

I have found out now that checks can be done for $10 at any registration department.

If you or anyone you know know is buying a car privatly or through a car yard, get this check done, even if you know the person you are buying the car from.

I will keep every one posted on what happens.

Thanx for taking the time to read this.

[SKYLINED]

That sucks!

We might have to go around the previous owners house and get your 5900 out of him.....

[Rob]

I can't believe no one would give u the money?, they would rather u lose 15- 20k??

Yep VSR check is a good thing, a very good thing.

There are some dodgy people out there, very very sad indeed hey.

[hippy]

i dont' seem to understand ... how can they make you pay for something that you've already paid for ?? you bought something off some guy ... they should go after that guy that owes money ... ??

[Nightcrawler]

dude you should have posted here earlier - I woulda bought the car off ya for $6,000 and you would still have made a profit!

[EnricoPalazzo]

hiep, it happens all the time mate. people buy a car thru finance. If the car is sold, the finance will go to the new owner.

[whatsisname]

Man I can't believe SOMEONE couldn't come to your rescue, after all that effort & cash you put into it I feel for you mate.

[EnricoPalazzo]

if u need our help we will be happy to get the money out of the motha that fu cked u. No shit i will help u. this is bs. sorry dude.

[skipppy]

stuff buying cars from any aussies !!!

one good thing bout buying jap cars direct

[TIMMMAYYY]

yea enrico is a member of a few bikie gangs... he'll hav no worries makn this guy come up with the cash.

only thing that I wonder about is why you posted this thread in every state section, and not just the general section????

[CheekyR32]

Dude, what you need to do.. is get a lawyer.. you can find the previous owner's location and get a summons to make them appear in Court therefore making them face their debts.. you can not be personally responsible for a loan you didn't even take out 6 years ago.. however, the Courts "may" say it was your duty to do a VIS check. There is no way id be paying it.. id take the bastard who previously owned it to Court and ring his neck!!

Pm if you need a hand with this.

[Steve]

Strip the car back to the chassis. store all the bits at a mates house.

let them have their $5900 car.

[Busky2k]

Excellent idea Steve. Might aswell take a dump in the boot while your at it the day they take the car away from ya.

[slipperywhenboosting]

Hey. Latest news in! I did acquire a seperate lawyer and explained all. He said i can give the past owner summons to appear in court to pay me for any costs i have incurred throughout any of this. then called again saying that he has been summoned many times in the past few months by the bank, and they have lost everytime. We'll see what happens!

[CheekyR32]

I probably wouldn't post those details on here dude. But I knew that would happen.

Wait for your lawyer to get you what is called "judgement" in your favour.. The Courts (Court Sherriff etc) will then have to find this guy and make him pay his dues to you and other banks. Even if it means paying $20 for the rest of his life... failing that he could look at jail sentences depending on how bad it was. At least that way you get to keep your car. Make sure your lawyer informs the bank who sent you the original letter of what is going on to protect yourself.

Lateries.

[Steve]

Cheeky, does this mean they wont take the car off him? It was my understanding that if a financial encumberance was on a vehicle, the finance company can reposess it at any time, then the new owner take up the matter - but as you suggested, may result in a repayment of only $5 or $20 per week for the next god knows how long - hardly reimbursement when you loose the car.

[Steve]

Slippery, as Cheeky said, EDIT THAT POST;)