Dealer sale showing Insurance Theft??

Hi guys,

Was showing going to show you my potential pride and joy and thought I'd better double check the background before completing the payment.

The autotrader checks are not there where they'd show you their background checks?? Sure they were clear before. And the MCN background check shows as insurance theft but not stolen and clear in every other category.

Very strange can't do much until tomorrow in terms of contacting seller and dealer but all very strange. Can any body issue clarification on this?

HPI site says this:
Insurance theft
Each year 150,000 vehicle thefts are recorded by insurers. The HPI Check will tell you whether a vehicle you are looking to buy has any outstanding insurance interest recorded against it, which may mean that you can't legally own it, however much you may ultimately pay for it.

 

Thanks pal.

Shame MCN don't explain this when they took my tenner! Result though (of sorts) as the official hpi check automatically triggers an investigation there end. Sure the dealer has some responsibility to check this.

Will post an update.

 

Thanks Dozer.

Update this morning is advert shouldn't have appeared on autotrader in this form as potentially the info supplied wasn't complete.

The dealer doesn't do Hpi checks as standard to save costs if they are buying from trusted sellers generally.

Both parties are investigating and will let me know.

Update 2: Potentially insurance haven't updated records so Experian are looking in to. Autotrader believe the dealer to be unaware and previous owner. Just awaiting result if investigation which will take a few days. In all likelihood they believe it will be Cat D.

Glad I got that Hpi check!

 

Thanks guys for the advice.

Long story and several calls between the parties have gone on. Investigations are still being carried out with Experian.

The dealer believes this will just to be stolen recovered and will not affect the resale value massively and this will be reflected on the updated HPI he will try and request. In addition to the £400 discount he has offered (just below 10%) to make this 'a real bargain' and because I have been fair with them at trying to resolve this.

But surely I have to declare this when I take insurance and this will show on a future HPI check? In the rare case it is just stolen recovered with no category I'm not sure how this will affect the price and insurance cover.

However it has not been confirmed whether this will be a Cat C or D. I have been advised generally any insurance involvement will result in a cat certification. It's all a bit up in the air at the mo. I'm dubious to pay anything until this is resolved by Experian either way.

 

Thanks Rich. So we are saying if this is stolen recovered (as the dealer states not experian or HPI yet) and if it wasn't for this error I would be none the wiser as to the previous stolen status (if it was never written off).

Full service history apparently. Not sure how much more to ask for off though if this is the case.

 

Thanks guys always good to have some others opinions and help as this has been a stressful experience to say the least. Thought it would be great picking my new bike haha

Anyway, HPI have said the insurance have never been informed of the recovery so this needs amending before I can legally own it.

Have gone back with a counter offer of an extra £100 on condition as per advertised with fsh, warranty etc and marker removed with no category status showing.

 

Right the beer has been poured and I'm sitting comfortably! Has been a funny old day on this. At one point the deal was almost definitely off now it looks back on.

Turns out from the dealers conversation with the insurance company that the original owner had the bike recovered after a pay out. They never fully repaid the insurance company before selling it on.

The insurers informed me around lunch time they were taking possession of the bike. So that was that.

Spoke to the dealer in the afternoon and he had negotiated purchase of the bike from the insurance and was still willing to go ahead with the deal. I've agreed the purchase on the condition all the paperwork on the matter is in order and is not cat C/D. What a saga! I'm going in person to collect so I'm hoping for a happy ending after all this!

 

Cheers guys at this point the discount will be honored.

I did ring a Triumph dealer declaring my love for the new Striple and asking if this would have an effect on my p/x. They said it there would be some reduction in exchange value but no where near the Cat C/D range.

 

Apparently there is always some sort of marker as stolen recovered I was told?? I know we've been round the house with definitions and explanations.

Very happy though if it goes and I don't need to declare.

 

Next issue is Q plate status? Apparently some insurers will ask and not touch them. Hastings who I was looking at specifically ask this.

I'm also checking the VIN and V5 Serial Number tomorrow along with verifying the Triumph service. Any other checks you guys can think of? Thanks for all your input so far.

 

Not a clue if it will be! Apparently stolen/recovered can be classified as a Q with insurance?? I'm lost on this mate...

And he won't buy the bike from the insurance until I'm there to process the sale after he's purchased. I have confirmed the details that a transaction is pending. This had made me a bit suspicious though on the marker. Need another call to them I think.

 

Any idea on the Q plate thing? Even the net is very sketchy on it? Another bike forum thread contributor says it's because its already been paid out on.

http://www.gocompare.com/car-insurance/q-plates/

Found this which says it's only if there is a doubt the VIN number matches. I just don't want a nightmare on my hands once the marker is removed if it gets categorised. argghhhh...lol

 

If the engine number matches there should be no problem then. The whole transaction worries me for timescales though as it gives me little time to establish the marker.

Will be cautious I think while I'm at the dealer and take a deep breath and be prepared to walk away I think if need be.