There can be issues related to selling and I suspect it may be best to make one`s self aware of the pitfalls before engaging in the process, and the pitfalls can be a total loss of a vehicle, it being sold by a third party in the case of a ... Sale Or Return agreement (SOR)... where the car "showroom" may be just crooked, or a dealership with financial issues, of which there may be a few given pressures relating to Covid, baby natural boomer population reduction, and of course potential climate change perceptions affecting the Market for Classics...?
There are records of one NON-MORGAN car dealer who had strong links with the club for the marque he was dealing in, and over many years. He was also strongly associated with the marque through Classic press articles, it seems he may have had less than above board dealings with very many SOR vehicles amounting to unbelievable sums of money measured at over a Million pounds. All of which was a sad story indeed...?
Through no more than word of mouth, I heard of a closer to home SOR tale where the car was sold, the new owner contacted the previous owner, to ask questions in a situation where the previous owner had not been made aware of the sale by the dealership... On contacting the dealership you can imagine the excuses.... Ultimately it seems in order to resolve the situation with minimum fuss, the previous owner ended up accepting part cash and another car just to get out of the deal with something...!
I am NO lawyer so best research for yourselves..
The wording in SOR situations can be less than well read or understood, as in some situations you are handing over a degree of ownership the the dealer under which if he is a crook, it seems you may risk ending up with nothing, the police being less than interested, and your former car is now legally owned by the person who bought it from the dealership...?
Another tale I read of and if my memory might be of it might be correct, was where the owner of the vehicle which went "missing" the owner had fortunately had taken out insurance specifically related to storage (?) and thus was able to claim under that policy when his car disappeared from the dealers premises whereas others whose cars were "lost" at the same location are seemingly waiting for the outcome of a very long and arduous bankruptcy (?) court case with expectations of perhaps pennies paid out on the pound IF indeed there is anything left once the legal eagles have been paid their fees.....?
