BEWARE! A New Sneaky Car Scam Caught Me Out!

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You should name and shame the bloke who took out the loan secured on a car he never owned. Shame him or others will get stung.

If the date you bought it preceded the date the seller secured finance than surely its fraud and a matter for the police? I can't randomly secure debt against another person's property and expect that they then become liable in any way.

When you buy a car everyone should now not accept the piece of paper from the V5. You can fill this out online and that piece of paper is not needed. Doing this would have prevented that scammer from giving you the old slip.

Do the transfer on line, this would have highlighted that you had an old V5. You can do this at the time of sale

Yep name and shame him...he got away with it to scam some other poor person....we all have to do the right thing....to stop the scammers

Glad things turned out OK for you and your friend, it's disgusting that there are unscrupulous people about, good warning for everyone,.

Well done for clearly explaining a very complex situation.

and I bet the seller who took the finance out after he sold the car didn't get a knock on the door from the law even though that's just 100% fraud

That’s why on a HPi check, checking the latest v5 issue date from the DVLA is so important. 👍🏻

I had this happen to me, I bought a range rover and then passed it on to my mum. After a few months we were contacted by a finance company but I was advised that I would have to either give the car back or pay off the outstanding amount. I paid an extra £9,000 for the car and I'm still trying to get the money back from the seller by taking them to court 2 years later. Experian didn't show this finance on the HPI check I performed, and refused to honour their "Data guarantee" which insures up to £10,000 I think. It's been a huge nightmare and I'm not sure I'll ever get my money back!

It is possible to protect yourself against this. You can check the date the current V5C was issued on the government website and check this date against the V5C being presented by the seller.

Top tip - complete the change of ownership details online i the presence of the seller and it will ask you for the reference number from the V5. If it is not the current V5 the DVLA system will not let you make the change - serious red flag to walk away. Tell the seller this when discussing the deal before purchase and make it clear ypu will walk away in this situation. The vehicle is in your name from that instant, so any attempts to get finance will not link to you in any way.

the whole private sales second hand car market is now a minefield, especially through FB Market place, there must be 10 scam ads for every genuine one. I used to feel safe if I had done my due diligence and ran the intended purchase vehicle through Car Vertical or similar, but not now. Thanks for posting this good informative video.

Sounds almost like the seller was in with the loan sharks and it's a regular turn they use , thank goodness you came under Scottish law .

Wow that's definitely something I have never heard of I've been buying cars for over 30 odd years now thanks for bringing this to my attention

Changing ownership via the dvla website at the time of purchase would eliminate this. If he gave you an outdated v5 then the dvla site wouldn’t allow you to change this online. It’s what I always do when buying/ selling.

I only discovered your channel a couple of days ago and love it ! Watched loads of your old videos, keep up the good work !

Speed camera normally helps the previous owner send the logbook off a bit faster....

Always get a purchase receipt signed by the seller, which clearly states no finance then you are covered legally