WARNING Everybody read: your bike could be at risk

Motorcycling
1

Hello all,

As in below thread

http://londonbikers.com/forums/Topic754508-35-4.aspx#bm754869

my bike was repossessed and chances of getting it back are very low so let me at least share my experience with you so you can learn from it:

At 6:30 am on 16/11 baliffs arrive at my house saying they have come to repossess the bike as finance is outstanding from the first owner. I called the police who basically gave me the wrong advice and said if I stop them taking it, I would be arrested for a breach of peace. This in fact is wrong and once it’s not on the road ( it was in my garden) they had no right to take it. To end a long story short the bike has been taken and I now have no bike that I paid £6,100 for.

In addition they are parts on the bike that are mine that they would not let me take off (worth about £1,300) I have the original standard parts

13/03/2007 1st owner buys from Motorcycle World Northampton

10/08/2007 1st owner takes out finance

12/10/2007 Bike is sold back to Motorcycle world who do an HPI check with Experian that comes up clear (I have a copy)

03/11/2007 2nd owner buys from Motorcycle World

03/08/2008 I buy from 2nd owner

10/01/2010 finance company registers interest in vehicle two years and two months later (no law against this)

16/11/2010 Baliffis seize my bike

I am now stuffed as finance company has legal title to bike

Even though Experian credit check came out clean their gurantee only lasts two years so I cant claim on tier insurance (motorcycle world were going to claim for me)
So basically I have lost a bike valued at about £5,500 and my only options are to sue the 2nd owner (who is innocent) who will then sue motorcycle world (also innocent) who will then sue the first owner who is a deadbeat.

So basically if you buy from a private seller it doesnt matter how many checks you do …after two years you can get shafted and there is nothing you can do about it

lessons to be learnt:

never ever let baliffis in without a court order and in mean time strip bike and give them a frame.

after two years you can lose your bike no matter how many checks you have done

2010 and the law is a complete joke

ps I was using my girlfriends scooter as bike has been taken and got knocked off last night by a car and its a write off …can you believe it. So no Bike and no scooter.

2

That’s really **** luck mate! :pinch:

Thanks for sharing the info on this. I’m sure their are more than a few people out their doing HPI checks on the bikes they’ve owned for more than a couple of years as a result! :wink:

Hope your luck changes soon! :slight_smile:

3

Never let baliffs in unless double sure everything is legit.

I feel for you dude, really do.

Finance companies are scum, did it once, never again.

Hope it works out in the end mate.

4

:frowning:

5

And Log Book loan companies are scummier than scum and current fairly unregulated.

6

Really sorry you won’t be getting the bike back, and the scooter incident is a real kick in the teeth. You must be feeling sh1t at the moment but you WILL bounce back from it. Hope things take a turn for the better.

7

Oli,

Not much in the way of compensation but I found this in an article which at least might give you the opportunity to rant at the original owner.

" The BBC are researching Log Book Loans and the damaging effect they can have on consumers if payments are missed.

They would like to talk to anyone that has previously had a Log Book Loan, missed payments and have had, or are about to, their vehicle repossessed.

If you feel you would like to help then please call Ceri on 0161 244 4868, you can read more about this here."

Just spoken to their office and they said if you were interested in participating you can email all the info to [email protected].

Article I found was here http://www.debtwizard.com/news/consumer-issues/460-government-to-ban-log-book-loans

8

can’t you sue Experian for false documents? I know the insurance ended but they sold you false documents. Another point is that the finance company probably didn’t register the bike as being owed finance and that would be their fault. So you COULD sue them for taking your bike.

I hope this info might be of some help.

9

Ah mate, that’s sh1te luck. Really hope it picks up for you soon.

Start buying lottery tickets- you’re owed some decent luck!

10

That’s ****** for you mate! if it was me in this situation there’s no way they would have taken the bike.

11

superoli can’t sue anyone but the original owner as the law only will enforce contracts. The only contract superoli has is with the person he bought from. He didn’t do the HPI
check so has nothing to claim about. The dealer could potentially launch a claim against them, but why would they unless they were being sued by the person who they sold the bike to, who isn’t superoli.

However superoli must have a claim against the bailiffs or the finance company his property that they took when they removed the vehicle without allowing him to replace the original items on the bike and remove his property. It has to be worth a punt at the small claims court to recover the cost of your mods and improvements to the bike.

superoli should also ensure that they write with full details to the MP or nothing will ever change.

superoli should also report this to the police as there is a clear case of misrepresentation by the original owner when they sold the bike which is a criminal offence. Don’t be surprised if he has done this sort of thing before so may have a record.

12

experian cant be sued because there insurance lasts for two years and has now expired so they have done nothing wrong (except maybe not advertising that fact)

The guy who took the finance has been reported to the police and Northampton police are investigating.

PS the loan was at 176% APR

13

a sorry tale indeed m8.

can any1 do a hpi check on it now to see wot it says? just curious seeing as it come up clear last time.

14

How can this be fair and right, I am really gutted for you.
Sorry about your off too.

So are we now saying that if you buy a 2nd hand bike whether privately or from a dealer, that every 2 years you have to HPI it.

Britain has gone F.** King MAD.

15

Sorry to read about this one fella , am truly gutted for you. As someone else posted , how in 2010 can we all be subject to these stupid scams / laws.

16

Don’t really understand how you can buy a bike then take out finance on it 5 months later, is this right? (Not disputing it, just never heard of it before).
Why does Experian’s HPi check only last for 2 years? Surely it should last for the life of the bike, it’s pretty bloody useless otherwise.
As far as I’m aware HPi checking companies are regulated by the FSA, I would give them a ring and ask if Experian’s 2 year limit is legal (even if it is, they can still put pressure on Experian). I know your contract wasn’t with Experian but you are in the sh1t because of their policy. You may also want to ask them to look into why the HPi check came back ok, is it up to the finance company to put the bike on a register?
FWIW, the FSA are very good at applying pressure on companies, my insurance co crumbled and gave in when my bike was stolen, even though what they were attempting to do was in their policy.

17

That’s terrible news. Really gutted!

Have you tried contacting MCN? I’m sure on a slow week (and weeks have seemed to be slow lately), they would love a sensationalist article on something like this. You never know Experian, the loan sharks, or the bike shop may make a gesture after some bad publicity. It’s a long shot, but I guess at this stage everything is worth trying.

18

JJON it’s not really finance more a short term loan with the vehicle used as security, interest on them is ridiculous and people who take a loan over a 2 or 3 year period can find themselves pay back 4 or 5 times what they borrowed.

Original know as Bill of Sale loans these Log Book Loans are normally taken over a short period of time 1-2 months to raise no questions asked cash.

The companies are near enough unregulated and have some very very dodgy practices.

19

Basically after two years your HPI check is worth nothing and to make it worse if you do a check and it comes up with finnace there is nothing you can do apart from sell everything as spares or get it out the country. Lets say I had done a check anytime after January it would have shown with finance …and I wouldnt have been able to sell it. The only advantage is I would have been warned and would have been able to sell as parts.

I didnt know you could do finance after as well. They are called logbooks for loans and these legalised sharks take your bike/car as an asset and lend you money 176% APR in this case.

If you do a seach on logbook loans you will find them.

Yes I had no idea the indemity with experian only lasted two years …they certainly dont advertise that. What a complete waste.

Experian have admitted they made a mistake but said oh well its outside the two years …hard luck.

The finance company have no legal requirement to register and interest in the bike (which is a complete joke, how hard would it to be legislate that they must register an interest)

I have emailed the MCN but no response yet and also emailed rip off Britain at BBC

the law is an ass

20

to be fair on the hpi check, it should not last forever because the 2nd buyer of bike could take finance out on a bike etc.