Bought a Car from a private seller About 2 Years a go.
Car has been working well for us since.
Got a call somedays back from TfNSW stating issue with registration.
Car was registered due to an error in NSW.
Car was written-off and then repaired in a different state previously.
They(previous owners) had to complete some formalities there, before registering in NSW, which were not done.
Now TfNSW wants to but back the car at 50% of the market value.
They say this is based on the valuation of the car while considering its is written-off.
I already requested them to increase the offer, which they are not willing to do.
Please advice, not the best of the times to go looking for a car.
Should we still comply? Considering error was on their behalf?
What are our options?
Answering some questions:
We paid: $6000 + fees for the Car
Being offered: $3000
Adding more information about the written-off status:
While doing PPSR the car comes-up as repairable write-off in Feb 2017 (previous state)
We purchased the care in mid 2018, and it was already registered in NSW
The price on the transaction was noted the actual one i.e. $6000.