mate of mine had his motorbike nicked a few months back. to cut a long story short, he got paid out within days, but the bike has recently turned up
(current custodian applied for logbook with DVLA which flagged up on police database)
anyway the bike is now being held by plod while they try and trace original thief
question:
does my mate have any claim over the bike? can he have first refusal of salvage rights? or do the insurance company own it outright and its up to them
who they sell it too, and for the maximum they can get?
cheers
Not if he has been paid thru insurance for it, as it its theirs now
Th insurance own the Nike.
If he contacts them thy may sell it back to him for a reduced fee which I'm sure many on here have done.
He has no claim to it but they may be happy to sell to save ten recovery and the fees for storage etc....
Be aware that it will always show up as stolen recovered on hpi. Plus if it is damaged they may write it off too.
hope that helps,
David
Once you've been paid out its basically the same as if you'd sold it to the insurance company. They will sell the salvage to only approved
salvage companies so no chance of getting the bike back. Would you really want it back after some toerag has ragged the nads out of it
As already said, it now belongs to the insurance company.
It may be worth keeping an eye on the copart auction site as a lot of insurance sell off the salvage through them.
http://www.copart.co.uk/c2/home.html
cheers all
funny thing, the current "owner" reckons the bike checked out on HPI, and also on the insurance database. it was only flagged up when he
tried to get the logbook....................
the story continues, while plod make enquires
[Edited on 11/11/12 by clanger]
might have been on the wrong plates when he bought it? Happened to me with a stolen car once, they never took it back!
I'm not sure why people still buy vehicles without a V5C.
quote:
Originally posted by MakeEverything
I'm not sure why people still buy vehicles without a V5C.
quote:
They will sell the salvage to only approved salvage companies so no chance of getting the bike back. Would you really want it back after some toerag has ragged the nads out of it