You never know what you are getting into when purchasing a used vehicle! - Page 2 - BMW M5 Forum and M6 Forums
E39 M5 and E52 Z8 Discussion 1998-2003 Advertiser's Forum

 22Likes
Reply
 
LinkBack Thread Tools Rate Thread Display Modes
post #11 of 26 Old 18th February 2017, 03:46 AM
Sailor24
M5 Expert (>4000)
 
Sailor24's Avatar
 
Join Date: Oct 2010
Location: Cobourg Ont
Age: 57
Posts: 9,701
Thanks: 986
Thanked 1,967 Times in 1,651 Posts
I would not say that sucks. For you it will likely clear the title as this looks like some company fraud for maybe cheating on taxes or something. No one may tell you what is going on but your last post says someone will either have something to explain or someone will be investigating.
In simple non lawyer logic if they can't verify they paid that claim they can hardly verify the car was a salvage. Maybe just clerical, but if I wanted my company to look like it made less I would increase the payouts that I reported.
Sailor24 is offline  
The Following User Says Thank You to Sailor24 For This Useful Post:
bcampbe7 (18th February 2017)
Sponsored Links
Advertisement
 
post #12 of 26 Old 18th February 2017, 03:39 PM
herrubermensch
M5 Expert (>4000)
 
Join Date: Aug 2008
Location: New York
Age: 53
Posts: 8,707
Thanks: 4,472
Thanked 2,607 Times in 1,548 Posts
Quote:
Originally Posted by bcampbe7 View Post
Meant to state in the original post that this was a "Owner retained salvage" meaning that the Insurance company never took possession of the car and therefore didn't brand the title. I assume it was the owners responsibility to do that, but they didn't.
Yep. That's how it happens. When Sam totaled his first M5 (not his fault), the insurance company would let me buy it back only with salvage title. They did not want me putting that puppy back on the road, for me or anyone else. Other insurance companies are not so diligent. Even with a salvage title, sometimes they can be "washed" to a regular title through reregistration in another state. There are bad people out there, folks. Always best to inspect yourself and look for signs of repair.

Sorry about your situation. I assume you concluded that the SOL for causes of action against the seller have expired?

--Peter
herrubermensch is offline  
post #13 of 26 Old 18th February 2017, 03:41 PM
herrubermensch
M5 Expert (>4000)
 
Join Date: Aug 2008
Location: New York
Age: 53
Posts: 8,707
Thanks: 4,472
Thanked 2,607 Times in 1,548 Posts
Quote:
Originally Posted by bcampbe7 View Post
Man, this saga just gets better (for anyone that cares)...

National Insurance Crime Bureau (NICB) is apparently who Carfax got their information from. NICB has contacted the insurance company that reported the total loss payout and that insurance company cannot verify that they paid such a claim! This sucks...

.
Wait a second. If Carfax CANNOT verify the accuracy of the information, then the information should be removed from the Carfax! Press that issue with Carfax.

--Peter
herrubermensch is offline  
 
post #14 of 26 Old 18th February 2017, 03:42 PM
herrubermensch
M5 Expert (>4000)
 
Join Date: Aug 2008
Location: New York
Age: 53
Posts: 8,707
Thanks: 4,472
Thanked 2,607 Times in 1,548 Posts
Quote:
Originally Posted by Sailor24 View Post
I would not say that sucks. For you it will likely clear the title as this looks like some company fraud for maybe cheating on taxes or something. No one may tell you what is going on but your last post says someone will either have something to explain or someone will be investigating.
In simple non lawyer logic if they can't verify they paid that claim they can hardly verify the car was a salvage. Maybe just clerical, but if I wanted my company to look like it made less I would increase the payouts that I reported.
Exactly! This is new information to me! Demand letter to Carfax. If my firm is conflict clear with Carfax, I'll write a demand letter for you.

--Peter
herrubermensch is offline  
post #15 of 26 Old 18th February 2017, 03:48 PM Thread Starter
bcampbe7
m5board.comoholic (>1000 posts)
 
bcampbe7's Avatar
 
Join Date: Aug 2011
Location: Tennessee
Posts: 1,499
Thanks: 144
Thanked 148 Times in 138 Posts
Quote:
Originally Posted by herrubermensch View Post
Yep. That's how it happens. When Sam totaled his first M5 (not his fault), the insurance company would let me buy it back only with salvage title. They did not want me putting that puppy back on the road, for me or anyone else. Other insurance companies are not so diligent. Even with a salvage title, sometimes they can be "washed" to a regular title through reregistration in another state. There are bad people out there, folks. Always best to inspect yourself and look for signs of repair.

Sorry about your situation. I assume you concluded that the SOL for causes of action against the seller have expired?

--Peter
Car was never registered anywhere but Illinois prior to my ownership. Doesn't mean that something shady didn't occur though, I guess.

From what I understand, by law the insurance company is supposed to report a total loss to NMVTIS. My car does not show as a total loss in NMVTIS.

https://www.vehiclehistory.gov/

Don't get me wrong, I want to find out what really happened. If the car was totaled I will live with it. However, if this is a clerical error (which I am finding out is not all that uncommon), I want it removed.


.
bcampbe7 is offline  
post #16 of 26 Old 18th February 2017, 03:52 PM Thread Starter
bcampbe7
m5board.comoholic (>1000 posts)
 
bcampbe7's Avatar
 
Join Date: Aug 2011
Location: Tennessee
Posts: 1,499
Thanks: 144
Thanked 148 Times in 138 Posts
Quote:
Originally Posted by herrubermensch View Post
Wait a second. If Carfax CANNOT verify the accuracy of the information, then the information should be removed from the Carfax! Press that issue with Carfax.

--Peter

Apparently Carfax got the info from NICB. They may have gotten it from ISO Claims search, idk.

NICB are the ones that called the insurance company that reported the total loss and told me that the insurance company couldn't verify the total loss. They also won't give me the name of the insurance company so that I can call them to get a letter.
bcampbe7 is offline  
post #17 of 26 Old 18th February 2017, 04:19 PM
herrubermensch
M5 Expert (>4000)
 
Join Date: Aug 2008
Location: New York
Age: 53
Posts: 8,707
Thanks: 4,472
Thanked 2,607 Times in 1,548 Posts
Quote:
Originally Posted by bcampbe7 View Post
Apparently Carfax got the info from NICB. They may have gotten it from ISO Claims search, idk.

NICB are the ones that called the insurance company that reported the total loss and told me that the insurance company couldn't verify the total loss. They also won't give me the name of the insurance company so that I can call them to get a letter.
Right. But if NICB now cannot verify the accuracy of the information it provided, Carfax has an obligation to remove the info, and NICB should cooperate.

--Peter
herrubermensch is offline  
post #18 of 26 Old 18th February 2017, 04:22 PM Thread Starter
bcampbe7
m5board.comoholic (>1000 posts)
 
bcampbe7's Avatar
 
Join Date: Aug 2011
Location: Tennessee
Posts: 1,499
Thanks: 144
Thanked 148 Times in 138 Posts
Quote:
Originally Posted by herrubermensch View Post
Right. But if NICB now cannot verify the accuracy of the information it provided, Carfax has an obligation to remove the info, and NICB should cooperate.

--Peter

Agreed, but Carfax has told me (more than once now) that they cannot/will not remove the Total loss without a letter from the insurance company. I will be speaking with NICB next week.

.

Last edited by bcampbe7; 18th February 2017 at 04:25 PM.
bcampbe7 is offline  
post #19 of 26 Old 18th February 2017, 04:35 PM
herrubermensch
M5 Expert (>4000)
 
Join Date: Aug 2008
Location: New York
Age: 53
Posts: 8,707
Thanks: 4,472
Thanked 2,607 Times in 1,548 Posts
Quote:
Originally Posted by bcampbe7 View Post
Agreed, but Carfax has told me (more than once now) that they cannot/will not remove the Total loss without a letter from the insurance company. I will be speaking with NICB next week.

.
Good. Let me know how it goes. Carfax can't hide behind a stupid policy, viz., base its report on information from one source, then require a totally separate source to refute it even though the original source can't verify it.

--Peter
herrubermensch is offline  
post #20 of 26 Old 18th February 2017, 07:34 PM
2KDJ
Junior Member, warming up (<31 posts)
 
2KDJ's Avatar
 
Join Date: Jul 2009
Location: KSA/UAE/BAH
Posts: 29
Thanks: 3
Thanked 1 Time in 1 Post
Garage
Really sorry to hear about your predicament.

These sort of things are worse when salvage cars are exported and registered as clean cars in other countries. I had a friend who bought a car in Dubai that was US Spec. It was almost a year old, Carfax report showed minor collision but ultimately It seemed like a great deal So he went for it as it and had low miles. He bought it and owned it for about 3 years.

When he decided to sell it this year, Carfax report said it was a total loss somewhere in the U.S. and upon further inspection he found that the airbags had not been replaced. The whole time he had no idea!

Last edited by 2KDJ; 18th February 2017 at 07:35 PM. Reason: Typo
2KDJ is offline  
Reply

Bookmarks

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the BMW M5 Forum and M6 Forums forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in











Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes Rate This Thread
Linear Mode Linear Mode
Rate This Thread:



Similar Threads
Thread Thread Starter Forum Replies Last Post
Considering purchasing a m5 Str2010 E60 M5 and E61 M5 Touring Discussion 20 9th June 2015 07:20 AM
Thoughts on purchasing SMG vs Manual if purchasing the ESS SC jchris E60 M5 and E61 M5 Touring Discussion 2 27th May 2011 12:49 AM
I Need Help With Purchasing Ojciec E90 M3 Sedan, E92 M3 Coupe, E93 M3 Convertible, E46 M3 and E36 M3, Z4 M and Z4 M Coupe 3 3rd September 2008 05:58 AM
Help on purchasing new M6 Gustergoo E63 BMW M6 Forum and BMW M6 Convertible | m6board.com 9 8th December 2007 05:32 AM
What to look at when purchasing Mad_Al E90 M3 Sedan, E92 M3 Coupe, E93 M3 Convertible, E46 M3 and E36 M3, Z4 M and Z4 M Coupe 0 17th September 2005 05:20 PM

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome