We were looking at buying a car auctioning for no pay on a storage facility. What would occur if we bought it to find out it was a stolen vehicle? Would it be repossessed? Would it be rightfully ours after paying in full?
What happens in such situations?
Originally posted 2009-08-05 01:02:29.
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Your screwed. You won’t be held criminally responsible for recieving stolen goods, but they will return the car to it’s rightful owner. I believe legal recourse would be for you to sue the auction company and they would in turn have to sue the storage facility who would then have to sue the no-pay tennant.
There was a classic Ferrari that went to action for seven figures a few years back that was involved in this same scenario, and the original owner got paid despite not having posession of the car for allmost two decades!
If there is a lein on the title, you’ll be responsible for paying that off. As far as a stolen vehicle, call your local police department and ask them to run the Vehicle Identification Number to find out if it is stolen. A carfax would also be a wise thing to do before just bidding on a car you know nothing about. Good luck.
If the car is stolen you’ll lose the car and your money.
Since there is no title you have no way of knowing if there is a lien on the title or how much it might be. There could be a $5000 lien on that title and you’d have to pay that off in order to own this car.
What seems like a deal on the surface may be a burden in reality. Bid at auction only the amount of money you are willing to lose if this deal goes sour.