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Thanks. I do not know if a log book loan has been taken out and had never heard of them until yesterday. Now I understand that it is possible to obtain a duplicate of the logbook from DVLA, that not all loans are registered with HPI and that it is quite a common problem in England and Wales. I have a bad feeling about it really and want to have some facts if this problem materialises. As I see it, my only help here is that I am resident in Scotland and the bill of sale may not be recognised. (Is that true if the transaction was actually carried out in England?) I also understand Scots law allows for purchases made in good faith and that the court would not grant a repossession if I can demonstrate this was the case. I really want to ensure I make the appropriate response if I am approached either in person or by mail. Can you advise what I should do in this case?
Thanks again. I have no hard evidence yet, just a very bad feeling that I have made a mistake based on my instincts at the time of transaction. I really should have stopped then. It has been almost 6 weeks now and I expect I will find out fairly imminently anyway. If the BOS isn't registered will that not just delay the inevitable? Even if the court order could not be enforced I guess that would mean that I couldn't drive in England without fear of confiscation. I understand that collection firms can be aggressive in England and I fully expect to have them waving the bill of sale in my face as proof they can just drive the vehicle away. I have moved the vehicle off-road to private land way from my residence for the time being. I hope that will stop them just towing it away before I can take some action. The only other avenue I believe I could pursue is that they are required under code of practice to register with an asset loan register. HPI checks have been clear so I guess that could be an issue for them too. I will have to pursue a complaint against them by that avenue if things happen as I expect.
Really though, I expect I will lose the car or have to pay a very large sum to retain it. I guess it will be one of life's cruel lessons. Thank you very much for your help.
EDIT: Here is the relevant section of the code of practice: Can it help? I did an AA HPI check but it does seem a general reference to a register rather than HPI.
5.1 Members shall afford innocent purchasers of vehicles, that are subject to a Bill of Sale, the same protection as afforded under the Hire-Purchase Act 1964 Part III - "Title to Motor Vehicles on Hire-Purchase or Conditional Sale‟, but only insofar as title shall transfer to the innocent purchaser in the event that the Member failed to register his interest in that vehicle with a relevant Asset Finance Register Company within 24 hours of execution of the agreement.