Detroit Steel

Owner Could Lose Stolen ’72 Corvette Again



When it comes to bad cases of getting caught up in red tape, this one is among the worst involving a Corvette we’ve come across.

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540 vette

Well she isn't going to find the title because when the insurance pays for a total loss they get the title and keys. I had a vette stolen. And she was already paid for the car so it belongs to the insurance company. And she isn't going to get over losing it again, she thought she had a free vette coming her way.

Rich Mickol

How and why did they contact her in the first place. Doesn't that tell them something.

Hey we found your stolen Vette. Prove to us it's yours.

Doesn't the insurance company really own the car now?

qwank

buy it back from the insurance company. The claim was paid out 42 years ago. give them the claim money back, can't be more than $8,000 or so.

Markss

The insurance company owns the car. They can sell/auction?

Griff2002

Someone is going to win and someone is going to lose on this. Unfortunately the loser is probably going to be someone who paid good money for an apparent legitimate title long after the car was stolen.

Wrencher

That is how I ended up with my L-68. It was stolen in Phoenix AZ in 1978, Allstate insurance paid off the owner there, it was recovered mostly intact, the guy was driving it in Oakland CA in 1982. Allstate (the owner at that time) sold the car at an Auction yard to a gentleman that I grew up with, he sold it to me in 1999 for $5500.- and I drove it home.

Hans

The13Bats

Seems the police dropped the ball a bit telling her we found your car when it really isn't her car any longer, it's a car she owned that was stolen and paid off,
So 42 years ago insurance paid the car off wouldn't that mean if it is ever found it is theirs first and the owner they paid off has no more right to a "free" car than you or I do?
And if the owner had any rights why would it go any further than being first in line to pay back the insurance company and get it for what they paid it off for, if they wanted to be really cool and do that for her and not just auction it or more than they paid her for it 42 years ago....the insurance company could use this to look really cool or look like real heartless slime depending on which way they go.

Iceaxe

I had something similar happen 30 years ago with a motorcycle that was stolen and showed up 10 years later. The insurance company offered me rights of first refusal for the sale. I wasn't interested so that's as far as it went. If I remember correctly the motorcycle was sent to auction and I could buy it for the high bid if I wanted.

CanadaGrant

Plus 42 years of interest.... Insurance owns it.

joewill

you are also presuming that the insurance company still exists and still has records from a payout 42 years later.. probably not

69L46

Looks like she had Allstate at the time.

It's interesting, because of the vehicles age a title is not required in GA, just a bill of sale, but along with the modified VIN this certainly complicates it.

Hopefully she can get it back!

The13Bats

Should she get it for free? She did get a payoff for it.

red topless gator

It is probably not the Police's' fault, they have o way of knowing if the insurance company paid for the car unless the insurance company notified them, which they usually don't.

Iceaxe

IMHO... In a fair world the original owner should get a chance to buy the car at a fair price based on todays market value. I see no reason the original owner should get the car for free as the insurance company is currently the rightful owner. And no one ever said life was fair...

69L46

Nope. Just the chance to purchase it back...would be pretty cool I think...

The13Bats

Gator, I just said they dropped the ball, I still think they did, after 42 years they should pretty much assume insurance paid off and the car isnt "hers" any longer...but no biggie.

Ironically, the police knew how to track her down yet that doesn't prove it was once her car....

I believe she should get dips on it but heck the payoff might have been only a grand or two, the car was a year old, and wasn't a 72 vette about 6-6500 in 72?
The payoff sure wasn't gonna be more than value.

diehrd

That deal is so done 42 years ago it should not even be a story .. The real owner should be the car dealer who bought it with his hard earned money.

The13Bats

a car dealer who bought a stolen car?

I must not be reading the story the rest of you are...

diehrd

Yes after 7 years the statute of limitations has run its course , the original owner was compensated 42 years ago , she has NO claim to the car ..

Allstate has also been compensated as a business expense .

The only victim left is the honest car dealer who only after buying the car discovers it came with a incorrect title. He out of everyone should be made whole ... And is the ONLY one left with any actual loss