Please delete

J

JJbing

Member
Messages
445
Hi All,

Bit of help and guidance required..! I've sold a dozen cars privately but never had to do the following, as the new owner will be buying the car using finance.

I've copied the email the email they've sent, I've heard of the finance company (they're actually local to me) and called them yesterday from their google number, confirming what they've asked for.

Hi ****


We are looking after the finance for * who is purchasing your MASERATI GRANTURISMO


Our customer is looking forward to collecting the vehicle however, we need your help with some additional information to complete the transaction.


To make things easier, below is a checklist of everything needed; we appreciate it’s a comprehensive list but we do require all the information listed.


Please can you provide us with clear copies of the following


  • Copy of your photocard Driving License
  • Photo of yourself holding up your Driving License for True Likeness Purposes
  • A scanned copy of all 4 pages of the Vehicle V5 Document
  • Asset Inspection – please send across a photos of;
    • the chassis number (normally found in the windscreen)
    • one of the vehicle showing the registration number, and
    • one of the current mileage
  • Proof of vehicle ownership in the form of;
    • Original Sales Invoice or an order form showing where you purchased the vehicle from
    • Proof of Purchase – confirmation of funds transferred when you bought the vehicle or a copy of the finance agreement
  • Proof of Bank Details for Payment in the form of ONE of the following:
    • a paying in slip or copy cheque
    • a bank statement dated within the last 3 months which confirms the name of the account, sort code and account number
    • a scanned copy of the front of a bank card showing the name on the card, sort code and account number (for security purposes, please cover the 16 digit card number on the card).
If you have any queries in relation to the above, we are here to help so please do not hesitate to contact us on 0800 012 6666.


Once we receive the above information, we will send you a Private Sales Invoice for signature. This will allow us to release funds on delivery of the vehicle.


I will call shortly to confirm that you have received my request.


Many thanks in advance for your assistance



Mainly unhappy that whilst I still own the car and responsible for it, they want to fit a tracker, also not keen on sending the V5 even though I know it's not proof of ownership. A bit skeptical to be honest!

Having never financed a car ever, is this normal practice?
 
Last edited:
Zep

Zep

Moderator
Messages
9,297
I can see why they might want this stuff, to prove you are who you say, that you own the car, that the car is what you say it is.

Would I share your concerns? Yes. I wouldn’t be giving up half of that stuff unless I was totally sure I was getting paid.
 
J

JJbing

Member
Messages
445
Zep said:
I can see why they might want this stuff, to prove you are who you say, that you own the car, that the car is what you say it is.

Would I share your concerns? Yes. I wouldn’t be giving up half of that stuff unless I was totally sure I was getting paid.
Click to expand...

It's the tracker bit that gets me, apparently it doesn't hook up to the cars electrics or anything, but what if they bodge it, damage the car etc?

It's Oracle finance, who have assigned JBR capital, apparently JBR insist on a tracker on all vehicles they finance.

I've agreed with the buyer that a £500 deposit will be paid before they touch the car
 
outrun

outrun

Member
Messages
5,017
I deal with Tom Williams at Oracle, call and ask for him then ask him to confirm they are aware of this buyer and that it's legit etc etc

They are very reasonable and likeable, but you should do your due diligence on the buyer.
 
Ewan

Ewan

Member
Messages
6,818
If it were me, I’d not provide this information. Call your own bank, show them this, and ask if they are happy. See what they say!
 
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conaero

conaero

Forum Owner
Messages
34,639
Private sale, sold as seen, the finance company are looking for trade sale assurances.

I understand they are protecting their interest but I don’t see why this is your issue, but I guess if you want the sale you have no option.

Just make sure any documents given you clearly state “Sold as seen” on them or you will be lining yourself up for future comeback.
 
SE_123

SE_123

Member
Messages
416
Even if you think the call and email are from the actual company, the usual fraud advise is to get in touch with the company through details on their website, or visit in person (don't use the number given in an email) and validate the info independently.
 
Scaf

Scaf

Member
Messages
6,598
Its probably nothing but a business email that begins “Hi” makes me immediately suspicious …. but in essence the finance company are just checking:
  • You are who you say you are
  • That the car is your and you have the documents
  • That the bank in which they are paying for the car is your bank
But you should definitely contact them independently of the email.
GLWTS
 
Chrisb2015

Chrisb2015

Member
Messages
542
This is how Oracle work and all others will be exactly the same when paying a private individual. They are doing it to protect the buyer and make sure as far as is possible that you have title to the car and it exists. They will also insist the buyer buys a warranty although you won’t see this element of the transaction.

You should however ask for a deposit to be paid directly to you from the buyer prior to the paperwork being done to make sure you aren’t being messed around. JBR are one of the few who will finance a private sale so all seems very standard.
 
lifes2short

lifes2short

Member
Messages
5,838
"funds on delivery" bugger that, no way would i be let a motor go unless in have the dosh first and certainly wouldnt let them touch the motor either, as you say what if they fook up tracker fitment, there's so many other ways to get finance for a motor such as personal loans etc etc
 
J

JJbing

Member
Messages
445
Thanks for all your responses!

I rang the company on Thursday through googling their number not from the email, and when I mentioned Maserati granturismo private sale, they said, ah is this Jordan, assuming they don’t finance many Maseratis privately!
The funds will be transferred when the buyer has rings them whilst at my property, so the car won’t be leaving my garage until that happens.
I think it’s all genuine, just odd for a private seller to do it.
 
MarkMas

MarkMas

Chief pedant
Messages
8,960
JJbing said:
Thanks for all your responses!

I rang the company on Thursday through googling their number not from the email, and when I mentioned Maserati granturismo private sale, they said, ah is this Jordan, assuming they don’t finance many Maseratis privately!
The funds will be transferred when the buyer has rings them whilst at my property, so the car won’t be leaving my garage until that happens.
I think it’s all genuine, just odd for a private seller to do it.
Click to expand...

In a way, it is more odd that we often don't do this as private buyers. When handing over a load of dosh for a car to some bloke with a set of keys, we all should be checking out the seller to see:

Scaf said:
  • You are who you say you are
  • That the car is your(s) and you have the documents
Click to expand...

I'm now wondering if I was wise to just hand a huge bundle of cash to some bloke standing outside a shed in Hampshire this time last year....
 
B

bigbob

Member
Messages
8,972
Chrisb2015 said:
About 8% on an older car using lease purchase.
Click to expand...
That is expensive but the older the car gets the more it increases. Not long ago you could get 5% on new (ish) prestige cars but once they get over ten years old at the end of the term then the rate goes up a lot.
 
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