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The v5 replacement was in 2012, 8 years after it was first registered and while it was still in the original owners name (I will be the second owner).
A worrying post to read tho, lol.
As for the airbag light, I’m not to worried for now. Need to actually have the car in my possession first.
Nef-
This may be a stupid question, was the car one owner and one driver so the drivers seat was in one position till it was traded in? If that is the case try is the wiring loom connector under the seats. Clean the contacts with contact cleaner and make sure all the contacts sit in the connector correctly and make decent contact with low resistance.
lynx
There's something called a log-book loan, which is much as it sounds - you hand over your V5 and the company loans you money at 300% APR. Until you pay the money back the loan sharks own the car, but unscrupulous people have been known to take the loan (which doesn't/may-not appear on HPI checks) and then apply for a fresh V5, sell the vehicle and then it's the new owner who discovers that that don't have legal title to the car they just bought.
I'd check this out pretty thoroughly, if it were me.
MOT checker will (if they're on their game) check that all the correct lights go on when the ignition is fired, then go off again as the various modules give the ok. You can bypass the air-bag with a resistor (which I've done in my 911, as my wheel doesn't have an air-bag), just as long as that's the issue, and for e.g. the issue is not that the vehicle has been crashed in it's past and the pyrotechnic safety features are still upset.