Finance company repo

[Fatt Max]

Watched Fair Go tonight (the missus hid my porn collection.....again....) and saw a story about a guy who had his car repossesd cos it owed money from a previous owner blah blah etc etc.

One lesson is the usual deal about checking if money is owed on a vehicle before you buy, thats a given I suppose.

Most of these horror stories relate to cars but I was wondering if anyone had a similar experience when buying a bike. My mate in the UK got stung after forking out 10,000 pounds on a 2nd hand classic Triumph only to find that the previous owner had defaulted 2 years previous. Last time he saw the bike it was being driven away by two gorrilas from the repo firm.

Take care, ride safe and eat pies

[JimO]

it happened to a kbr when the repo man turned up to take his sons TL1000

[chanceyy]

hmm actually the previous owner was never a previous owner .. he got the money but never went through with the purchase of the car .. finance company added interest against the car, without checking the purchase was made

person defaulted on loan, finance co reppoed car

[Mom]

The other thing that should be taken away from Fair Go tonight, is once again G E Money have shown what a bunch of wankers they are as a company to deal with. NEVER BORROW FROM THEM!

[DIN PELENDA]

The other thing that should be taken away from Fair Go tonight, is once again G E Money have shown what a bunch of wankers they are as a company to deal with. NEVER BORROW FROM THEM!
Just newer borrow from any finance company that what I do [ I learn my lesson ]

[alanzs]

I think maybe checking out if any money is owed would be considered prudent when buying a vehicle??? :doh:

[-df-]

Happened to me about 10 years ago on my ZXR250...it was cheap for a reason. Best lesson I've ever had.

Got it back in the end though as the finance company had made a mistake (wasn't in the baycorp system or some such)...that was probably one of the best rides I've done bringing her home again.

[Static]

just out of curiosity what brand of car or what company was involved in this?

[Forest]

just out of curiosity what brand of car or what company was involved in this?

I'm willing to bet, on balance of probabilities, that this story somehow involves a Subaru Legacy.

[CookMySock]

Yeah I have had the same. I managed to wriggle them off my property just long enough to get a chain on the gate, and a car parked across the vehicle in question - they were highly UNamused when the deception became clear - another day with no wages, sigh. An hour later the car in question was in a mates garage with the wheels off of it.

I had bought the car from a dealer, so I didn't question the ownership. :eek:

DB

[yungatart]

I'm willing to bet, on balance of probabilities, that this story somehow involves a Subaru Legacy.

Nup. Mitsi VR4 and GE Money.

[slimjim]

yes was well worth watching....strange how it unfolded..loan on a vehicle he never ever owned or brought..

[F5 Dave]

More scary, was a story a few yrs back on the F.Go was some chick who bought a house with some chap & they split, he was supposed to be paying rent from the tenants they got in but wasn’t paying the bank. (he was a deadbeat & had gone back to his old deadbeat missus)

End result they sold the house which should have cleared the loan, but she then became responsible for all his debts as well - as the bank still saw the loan as not discharged & there was a financial connection through to someone who might be able to pay . Yes really. Watch what you go into joint ownership with people or guarantor as they can tie you to a whole heap of other shite.

Why don't they teach you this stuff in school rather than the endless crap I seem to remember about painting art & other crap?