Here's something to think about. You let a dealer have your bike to sell and he goes bust. Your bike is in for service and he goes bust. What happens to your bike in both cases ?
The dealer has no legal right to the title of the bike so it cannot be disposed of or retained by creditors in lieu of monies owed. Andy
In your first scenario the dealer is acting as your agent and in the second the dealer is providng a service (no pun intended) and you retain ownership in both cases. Andy
You get the bike back with no sale and no service. Hopefully they don't go bust while your bike is still in bits otherwise I'm guessing you get it back in a wheelbarrow..
Exactly this. The bike is retained in your ownership until you submit the DVLA transfer documents. In the case of it being claimed by the liquidators, you just show them the V5 Document in your name, and they are bound by law to return it to you. This is the same for both service and SOR, or even just leaving parked on their forecourt The only instance where this wouldn't apply is that you transferred the ownership to the dealer in lieu of the sale, in which case you have to join the queue of creditors
What if the Dealer sold the bike to a new owner, title transferred but monies paid by new owner, not yet paid by dealer?
You join the queue of creditors and expect to either never see you money, or only see part of it in a long time
