I am a victim of buying a stolen car and now the insurer is offering me to buy the car of them.
they say it won't be recorded but it shows on HPI check
I was wondring if they do not an obligation to sell me the car( as they always say it) then why are they not negotiating over the price?( they have set price)
and why don't they just sell it?why me?

if I buy the car and insure it, in case of second claim, how would the insurer calaulate the value?

what do I need to be aware (legal side) before buying it?

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Originally Posted by michaelanderson

i am a victim of buying a stolen car and now the insurer is offering me to buy the car of them.
they say it wont be recorded but it shows on HPI check
i was wondring if they do not an obligation to sell me the car( as they always say it) then why are they not negotiating over the price?( they have set price)
and why dont they just sell it?why me?

if i buy the car and insure it, in case of second claim, how would the insurer calaulate the value?

what do i need to be aware (legal side) before buying it?

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Are you saying you bought a car, didn't know it was stolen, the insurance that insured it already paid the previous owner for his/her loss, now you are going to buy the car a SECOND time - this time from the insurance company?

Didn't you already buy the car once, whether the legal owner sold it or not?

No, there is no obligation on the part of the insurance company to sell the car to you. They can sell it wherever they want. Their purpose is NOT to lose any money on the "deal," so I would expect to pay very close to what THEY paid the previous owner.

If you buy the car, insure it, have a second loss, value is based on a Blue Book formula. Past history and what you paid do not enter into the calculation.

Whether it's listed as stolen in the past doesn't matter - just make sure when you buy it that the seller (which appears to be the bank) has clear title.

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Originally Posted by JudyKayTee

Are you saying you bought a car, didn't know it was stolen, the insurance that insured it already paid the previous owner for his/her loss, now you are going to buy the car a SECOND time - this time from the insurance company?

Didn't you already buy the car once, whether the legal owner sold it or not?

No, there is no obligation on the part of the insurance company to sell the car to you. They can sell it wherever they want. Their purpose is NOT to lose any money on the "deal," so I would expect to pay very close to what THEY paid the previous owner.

If you buy the car, insure it, have a second loss, value is based on a Blue Book formula. Past history and what you paid do not enter into the calculation.

Whether or not it's listed as stolen in the past doesn't matter - just make sure when you buy it that the seller (which appears to be the bank) has clear title.

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Yes I have paid once, me and the insurer have been to court and they said that I have lost everything as the person who sold me the car had no title to sell it, therfore I lose everything but now if I try to buy it again and resale it I may be able to recover some of my lost

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Originally Posted by michaelanderson

yes i have paid once, me and the insurer have been to court and they said that i have lost everything as the person who sold me the car had no title to sell it, therfore i lose everything but now if i try to buy it again and resale it i may be able to recover some of my lost

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I don't see that you would recover anything - you are paying TWICE for a car and selling it ONCE. Of course, if the insurance company is just about giving it away, that's a different story.

Why don't you sue the person who sold the car to you and get your money back that way?

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Originally Posted by JudyKayTee

I don't see that you would recover anything - you are paying TWICE for a car and selling it ONCE. Of course, if the insurance company is just about giving it away, that's a different story.

Why don't you sue the person who sold the car to you and get your money back that way?

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unfort all the pepar work he give me was false so I have no track of him, so I have to wait till: IF he get arrested, prove that he was the 1 who sold me the car and event after that he'll say he has no money and just go to prison for a while:mad:

the officer on this is really cool and he is taking his time and also said we do act as dept recovery agency and do not hope to get any of yr money

but I don't understand if the value for the car is the real market value and there is no obligation , why is this insu co is trying to come to sell me the car as they say they can easily get this amount for this car?