Jump to content
SAU Community
  • Welcome to SAU Community

    Welcome to SAU Community, like most online communities you must register to view or post in our community, but don't worry this is a simple free process that requires minimal information for you to signup. Be apart of SAU Community by signing in or creating an account.

    • Start new topics and reply to others
    • Subscribe to topics and forums to get email updates
    • Get your own profile page, build reputation and make new friends
    • Send personal messages to other members.
    • See fewer ads!

    Consider joining our newsletter for the latest content updates

    Click here to register


Read this! Encomberance Checks!


slipperywhenboosting
 Share

Recommended Posts

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.

Link to comment
Share on other sites

keep us posted.............

i think i would have either made the car 'dissapear' or ripped it to shreads then stripped it for anything of worth (radio, upgrades, engine, seats..........steering wheel etc)

i dont know much about these laws...........was it a bank or the government closing in on you?

Link to comment
Share on other sites

Well maybe he doesn't want people getting burnt?

But its true, it always pays to do a finance check on a car. In fact its one of the common things people recommend, but you're the first person I've heard where its actually happened to. I'm sure it does happen a reasonable amount though.

Debt collectors will track down the debt eventually unfortunately... so always pays to check that the car is not on existing finance.

Link to comment
Share on other sites

I think I would have taken everything off the car that I had bought for it, and given back the remainder to them.

Do they have the right to seize your property, if it was placed on the car after you purchased it????

Especially if you have receipts for all the modifications on it then it is not part of the original purchase and therefore was not sold to you by the previous owner, so therefore (imho) should not have been seized because it was not part of the original loan agreement.

The original loan covered the cost of the car as it was not as it is now.

Get a good lawyer and try and get some of the parts that "you" paid for, not the loan company, back.

Best of luck and I hope it works out for you.

Link to comment
Share on other sites

But that is my point, lets say they take the car and it has my wallet and my mobile phone in it at the time of seizure, does that mean then that they get to keep those items because they were "in/on the car"?

I reckon with a decent lawyer you could get back the items that were added to the car after purchase.

Link to comment
Share on other sites

But if the loan company had to spend even half of the amount owing on the car to get it fixed for selling, they may offer it to him at a discounted price to recover some of the loss.

Link to comment
Share on other sites

Did you buy it priv atly or from a dealer?? If from a dealer then he's responsible for the debt. Iwouldnt be handing over the car just yet. I'd be wanting a detailed description of the car including condition at the time they took on the debt. There is nothing to stop you returning the car to that condition befor you give it back. It is all they are entitled to. Id also be chasing up the guy who sold it without permission from the loan company.

You can also (with their agreement) sell the car yourself and pay them the outstanding loan. Iassume it's now worth a lot more than the loan due

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share



  • Latest Posts

    • TCU is enroute, should be here on Monday. Have just paid for a transmission locally, they've got to pull it out of the car and should be with me on Friday. Just getting little bits and pieces I need for wiring. Thinking about using a small bulkhead connector to run the transmission wiring through the tunnel as the trans plug is quite big.  So all going well i should have the box dummy fitted up next weekend and start wiring.
    • sure, just PM me your email....
    • Haha likewise, take my shit box for a spin and maybe you'll end up wanting a R33 shit box again lol...  
    • @Jasoncauser looks like a tight technical track, and definitely fun! Let's hope I make it to that day 😎  
    • The springs just lets the valve bleed off pressure/oil and it bypasses the feed gallery and heads back to where the pickup feed is On the LS the oil gets the the bearings...eventually  This vid explains the OEM pump well IRT the pressure release valve and how the bypass works The oil pressure light coming on intamitantly could just be a sticky valve, but, why pull something apart and not put something better in  I believe the low oil pressure light comes on somewhere between 5-10 psi Well will stick a gauge in after the installation to see what difference it makes at hot idle and higher RPM, and by high RPM I mean 6300 RPM.....LOL
×
×
  • Create New...