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.

[kris n loz]

u poor bastard. i have a mate that this happened to. even checks with revs and getting a certificate off them doesnt clear you of encumberence, SO BE CAREFUL PPL. again, im sorry to hear about ur loss, good luk.

[monkey_zu]

.... if only you had posted/advitised before giving it up. sure someone (me included!!) would have been able to do a deal. few grand to you, $6k to the bank, sounds like a bargin for a $15k worked rotary. sure, you'd lose out by heaps (but the bank f**ked you anyways). but at least it'd go to a fan, not the f**king man...