I bought a stolen car and the insurance company offered me to buy again at a high price?

Question

I bought a Audi 05 reg for £13k privatley that turned out to be stolen. The insurance company have now offered me £15k a ridiculous amount of money to buy it again, that they say is non negotiable. Does anyone know if I can get it cheaper maybe the insurance company is trying it on as they know I want it, or shall i let it go to auction and try and buy it back then.

Answer 1

Let it go. i hope you have reported it to the police and you know who you bought it from. if it was a dealer you have a claim against them because it is an implied term of sale that they are entitled to sell the car to you . They were not it was stolen.

Answer 2

Hey,

All sorts of questions arise ....

Who proved it is a stolen car ?

Do you have legal title, in terms of paperwork that shows you as the registered keeper ?

Does the origonal "owner" have paperwork relating to the car ?

I think the insurance company are doing a "loss limitation" exercise, as they do.

I would pass the buck, by selling it at a top price, and buy a different one

Nice car, the biggish Audi, so should sell quickly.

Loose the car, loose the problem !

Bob

Answer 3

What do you mean "buy it again?"  Are you losing your entire 13k, and then being told to pay another 15k for it?  

I'd walk away from the whole deal.

Answer 4

IF you bought the vehicle in good faith then you have a claim on it.  In this situation I would consult a lawyer as the insurers, who may also have a claim on it have to prove they have a greater claim than you.  The circumstances and price paid by you will go some way in proving that you bought it lawfully and in all innocence.  In which case, you have the first claim.  Possession is 9/10s of the law.  See a brief.

Answer 5

I really feel for you. We used to hear of that sort of thing happening all the time here in Australia, but we now have government sites where you can check the stolen status and financial encumbrance state of every vehicle and can also check if it has ever been officially 'written off' following a bad accident.

If you still really want the car, let it go to auction and take your chances. You will probably get it for a fair bit less than the 15k the insurance are asking. They would be asking at the top of the possible price range, so you'll almost certainly get a better deal at auction. In any case, you'll just have to put the whole sorry saga down to experience and make sure it never happens to you again.

Remember, if a deal seems too good to be true, it probably is!

Answer 6

It's unlikely you will achieve a higher price than you have been offered by the insurance company, especially for a stolen car. I'd take their money and get a legitimate car from elsewhere. Autotrader (see link below) is a useful site for used cars.

Answer 7

I would go the the auction. That's ridiculous! Who did you buy the car from? Honestly, i would be wanting all my money back if they were trying to rip me off like that. I would get my money back then go to the auction. I assure you it will be cheaper at the auction.

Answer 8

what a bummer, you have lost your 13k no rights to the car what so ever,and the insurance company want to s***w you again,life dose not get better than that,lol

Answer 9

That doesn't make sense. The car belongs either to the person it was stolen from or his insurers if they've settled his claim.  Any purchaser of a stolen vehicle has no legal right to it at all, so you would have lost both the car and your money when it was recovered. Unless you've managed somehow to get your money back by some clever means not supported in law.

As it is, the insurance company clearly now have ownership of the car and they're entitled to try to sell it for whatever they can get.  Of course they will try to flog it for as much as possible. It's up to you whether you decide to buy at the price they're asking.

Answer 10

give them 20k for the craic.

Answer 11

You need to go back to whomever you bought the car from and demand your money back and/or threaten them with a lawsuit.  If that fails, As far as the insurance company  and despite what they say, everything is negotiable.  Sharpen your bargaining skills and have at it

Answer 12

I wouls advise you to contact trading standards to find out if what the insurance company is doing is legal / standard practice.

Answer 13

When you bought it did it have the registration certificate?