I bought a car that is now allegedly stolen!

[RPM-MACHINE]

Hi all,

I have a situation that I have to deal with tomorrow and would appreciate people help and or experience with similar situations or advice in General.

In December last year, I bought a car from a Dealership in Randburg. It was financing by MFC and I have had the car ever since.
Today, Budget insurance calls me today and says that the previous owner has reported the car in February this year as "Stolen".
Apparently the owners friend took the car without permission in November 2016 with the reg papers and sold the car to the dealership. (Something fishy here)

Now I have to meet with Budget insurance and the Dealer tomorrow to find a way of resolving this. MFC have already been informed and I will contact them for resolution since its technically their car.

I don't understand how the previous owner does not know that his car was missing for 4 months. From my point of view, MFC must resolve with the dealer, take the car back and I stop paying installments.

I hope that the situation is as painless as I imagine. Anyone been in a similar situation?

 

[zer0]

 

[chrisc]

 

[JonnyP]

 

[[email protected]]

 

[AdrianDeLau]

 

[RPM-MACHINE]

 

[ron g]

 

[pwatts]

 

[Toxxyc]

 

[placebo]

 

[CAD]

 

[Moolz]

 

[alternativeroute]

 

[JonnyP]

 

[King_Julian_S]

 

[RPM-MACHINE]

 

[Toxxyc]

 

[Byrd2]

 

[Byrd2]