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Dodgy MV's on eBay

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Bozzy.
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PostPosted: 22:54 - 19 Sep 2017    Post subject: Dodgy MV's on eBay Reply with quote

Spotted an advert tonight for an unregistered MV that doesn't have a COC certificate so cannot be registered in the UK.

The story has it they were supplied by a dodgy MV dealer in Hampshire who took the customers money but then never paid MV for the bikes (that were on a stocking plan). This meant MV never sent the coc certs or v55 to register the bike to the customer. The dealer then shut down leaving the customers out of pocket with bikes still owned by the Italian finance company.

https://www.ebay.co.uk/i/322741692281

Here's one of the bikes in question.

Also, I think the OP in the following post had a lucky escape, had he not called another MV dealer to query why his bike hadn't been registered.

https://www.bikechatforums.com/viewtopic.php?t=314336

The thread I spotted on Pistonheads which brought it to my attention is here.

https://www.pistonheads.com/gassing/topic.asp?h=0&t=1697182&d=0#seperator
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MKJ
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PostPosted: 16:19 - 20 Sep 2017    Post subject: Re: Dodgy MV's on eBay Reply with quote

Bozzy. wrote:


I started that thread on ph. Was very tempting until I had those replies. Not sure if it should be on eBay. Pity any unsuspecting buyer
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mpd72
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PostPosted: 17:09 - 20 Sep 2017    Post subject: Reply with quote

So the Ebay seller is selling a bike which is owned by someone else, who wants it back and is looking for it.

Nice... Anyone told MV or their credit broker about the ad?
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MCN
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PostPosted: 17:42 - 20 Sep 2017    Post subject: Reply with quote

SO it's sort-of-stolen from MV Agusta then.

Hot Potato.

There must be moar to it.

If it was on finance then surely the finance company 'own' it.
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MKJ
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PostPosted: 17:42 - 20 Sep 2017    Post subject: Reply with quote

mpd72 wrote:
So the Ebay seller is selling a bike which is owned by someone else, who wants it back and is looking for it.

Nice... Anyone told MV or their credit broker about the ad?


It has been taken down
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ScaredyCat
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PostPosted: 18:42 - 20 Sep 2017    Post subject: Reply with quote

MKJ wrote:

It has been taken down



It ended. zero bids..
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Bozzy.
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PostPosted: 20:12 - 20 Sep 2017    Post subject: Re: Dodgy MV's on eBay Reply with quote

MKJ wrote:
Bozzy. wrote:


I started that thread on ph. Was very tempting until I had those replies. Not sure if it should be on eBay. Pity any unsuspecting buyer


I feel sorry for anyone who has been landed with one of these.

I suppose MV were never paid for the bikes, therefore the bikes legally belong to them rather than the owner. A pretty crap position to be in for either party!
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barrkel
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PostPosted: 00:34 - 21 Sep 2017    Post subject: Reply with quote

This story floating around caused me some anxiety after I first put money down on my MV, but I bought it from Triumph Woburn (it was a trade-in) and they had V5, which is the missing registration bit on the dodgy bikes.
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mas101
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PostPosted: 10:23 - 22 Sep 2017    Post subject: Reply with quote

I saw the thread on ph.

I thought that there was a law now that if you bought a vehicle in good faith then you got clear title and the finance co had to chase their customer.

I'm sure it was brought in after logbook loans started and there was a load of issues with people getting replacement logbooks and selling the car.

Guess that doesn't help if there isnt' the paperwork to get the thing registered. But buying for parts might be OK?

Really I see this as an issue for MV - they signed up dodgy scroats as dealers.
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Polarbear
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PostPosted: 13:00 - 22 Sep 2017    Post subject: Reply with quote

mas101 wrote:
I saw the thread on ph.

I thought that there was a law now that if you bought a vehicle in good faith then you got clear title and the finance co had to chase their customer.

I'm sure it was brought in after logbook loans started and there was a load of issues with people getting replacement logbooks and selling the car.

Guess that doesn't help if there isnt' the paperwork to get the thing registered. But buying for parts might be OK?

Really I see this as an issue for MV - they signed up dodgy scroats as dealers.


Interesting. Have you any links/proof of this?
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M.C
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PostPosted: 14:20 - 22 Sep 2017    Post subject: Reply with quote

Polarbear wrote:
mas101 wrote:
I saw the thread on ph.

I thought that there was a law now that if you bought a vehicle in good faith then you got clear title and the finance co had to chase their customer.

I'm sure it was brought in after logbook loans started and there was a load of issues with people getting replacement logbooks and selling the car.

Guess that doesn't help if there isnt' the paperwork to get the thing registered. But buying for parts might be OK?

Really I see this as an issue for MV - they signed up dodgy scroats as dealers.


Interesting. Have you any links/proof of this?

Interested as well if there's anything to this. I've always thought it was a bit shit how the new owner's left with the 'option' of paying off the finance or losing the vehicle, whilst the c**t who knowingly sold the vehicle with finance outstanding skips off into the distance.

I thought logbook loans were a grey area, where they wouldn't show up on a finance check, but they were still secured against the vehicle?
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mas101
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PostPosted: 20:29 - 22 Sep 2017    Post subject: Reply with quote

M.C wrote:
Polarbear wrote:


Interesting. Have you any links/proof of this?

Interested as well if there's anything to this. I've always thought it was a bit shit how the new owner's left with the 'option' of paying off the finance or losing the vehicle, whilst the c**t who knowingly sold the vehicle with finance outstanding skips off into the distance.

I thought logbook loans were a grey area, where they wouldn't show up on a finance check, but they were still secured against the vehicle?



from the HPI site :
HPI wrote:
You do have a defence though, and thatís section 27 of the Hire Purchase Act (1964). This says that if you buy a car in good faith and the vendor doesnít tell you of any outstanding finance agreements, you still have good title to the car. But letís face it, considering the hassle you could have to endure if youíre unlucky, forking out £19.99 for a vehicle check must seem like a no-brainer at this point?


also random internet linky : http://www.carterlaw.co.uk/client-wins-vehicle-repossession-dispute-with-motonovo-finance/
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M.C
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PostPosted: 21:17 - 22 Sep 2017    Post subject: Reply with quote

mas101 wrote:
M.C wrote:

Interested as well if there's anything to this. I've always thought it was a bit shit how the new owner's left with the 'option' of paying off the finance or losing the vehicle, whilst the c**t who knowingly sold the vehicle with finance outstanding skips off into the distance.

I thought logbook loans were a grey area, where they wouldn't show up on a finance check, but they were still secured against the vehicle?



from the HPI site :
HPI wrote:
You do have a defence though, and thatís section 27 of the Hire Purchase Act (1964). This says that if you buy a car in good faith and the vendor doesnít tell you of any outstanding finance agreements, you still have good title to the car. But letís face it, considering the hassle you could have to endure if youíre unlucky, forking out £19.99 for a vehicle check must seem like a no-brainer at this point?


also random internet linky : http://www.carterlaw.co.uk/client-wins-vehicle-repossession-dispute-with-motonovo-finance/

So it sounds like it's one of those things they've just been getting away with (they being the finance companies)? I agree for the hassle it's worth getting a finance check, are they still about a tenner?
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mas101
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PostPosted: 21:28 - 22 Sep 2017    Post subject: Reply with quote

yeah.

I've just had the benefit of an hpi check. I've just bought a car that was a company car - the seller (director of the company) didn't know it was on finance. Turns out that there is a scheme where even though the finance is effectively fully paid off they keep the car on an open finance deal in order to keep it off the companies books as an asset.

The car (4 yrs old) had been paid off at 3 yrs old and spent the last year on a 'secondary finance' scheme with a peppercorn rental.

I was quite wary but after speaking to the finance co it seems that this is fairly common if someone likes their company car and decides to keep it longer than the original term.
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M.C
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PostPosted: 21:37 - 22 Sep 2017    Post subject: Reply with quote

Is there a reason finance checks cost so much more than a regular text check? And even then Gumtree appear to give the 'standard' info' away for free:
This vehicle has not been reported stolen, scrapped, exported or flagged as unroadworthy.

But then it's £9.99 for:
Outstanding finance, valuation, mileage check & VIN match

I remember watching an old episode of wheeler dealers where Mike Brewer paid something ridiculous (£100+ IIRC) for one.
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Polarbear
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PostPosted: 22:13 - 22 Sep 2017    Post subject: Reply with quote

Does that include log book loans as you queried earlier though?
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mas101
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PostPosted: 23:18 - 22 Sep 2017    Post subject: Reply with quote

Polarbear wrote:
Does that include log book loans as you queried earlier though?


thats my understanding - but I'm no lawyer.

As I said, my understanding is that this regulation is there to protect the innocent, good faith purchaser.
I'd guess that if you pay £3.50 or are a mate of the seller then things will look different.
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andys675
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PostPosted: 19:00 - 24 Sep 2017    Post subject: Reply with quote

when you buy a new bike obviously you don't get the V5 there and then in your name, however when the dealer registers the bike online they will get a confirmation of registration that you should be given a copy of.
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