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12th Oct 2014 8:25pm 12th Oct 2014 8:25pm |  OP
Forum Addict  Joined: Dec 2006
Posts: 1,995
wirral | My friend got a log book loan on his car for 500 a couple of weeks ago, Today is cambelt snapped and now the engines knacked. He Carnt afford to get the engine replaced so wants to strip the car and sell the parts to pay the loan back. Can he strip the car to bare shell and weigh the car in with out a log book. | Re: Can I scrap a car without a log book. [Re: vw_kyle] #904837
12th Oct 2014 8:40pm 12th Oct 2014 8:40pm | Joined: Aug 2011
Posts: 820
wallasey pokerchamp
Wise One |
Wise One
Joined: Aug 2011
Posts: 820
wallasey | seemingly you can!! Last edited by pokerchamp; 12th Oct 2014 8:42pm. | Re: Can I scrap a car without a log book. [Re: lansyp] #904944
13th Oct 2014 4:10pm 13th Oct 2014 4:10pm | Joined: Oct 2007
Posts: 4,868
shropshire  chriskay
Forum Veteran |
Forum Veteran Joined: Oct 2007
Posts: 4,868
shropshire | Oh well ,you should atverise it on here there are bound to be some takers You might want to advertise it too.  | Re: Can I scrap a car without a log book. [Re: danjaylai] #904951
13th Oct 2014 4:47pm 13th Oct 2014 4:47pm | Joined: Feb 2012
Posts: 417
here & there.... Finney
Smartchild |
Smartchild
Joined: Feb 2012
Posts: 417
here & there.... | I'm not sure he's allowed if there's a loan secured against it.
Technically the loan people own it until he's paid them back. I'm in agreement with this one, as the loan states it's a log book loan if the balance is not paid then the vehicle acting as the security is repossessed and auctioned off to pay outstanding balances and fees. I would suggest your friend contacts the loan company asap to discuss the matter first or they may end up with either the bailiffs or court action. | Re: Can I scrap a car without a log book. [Re: vw_kyle] #904956
13th Oct 2014 5:37pm 13th Oct 2014 5:37pm | Joined: Oct 2011
Posts: 1,957
Wallasey Salmon
Forum Addict |
Forum Addict
Joined: Oct 2011
Posts: 1,957
Wallasey | From Log book loans advice : If your vehicle is sold If the amount it is sold for is less than the amount you owe, you will still be responsible for paying the shortfall. A logbook loan company can take you to court to get this money back. So it is ok to sell or dispose of the vehicle but the loan still must be paid. Very sad if people have no option other than to borrow from these sharks. |
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