Purchasing a vehicle Private Sale? It needs to be handled carefully. There are two ways to organise the funds for a private sale vehicle - Personal Loans or Private Sale Secured Car Loans
What do we need to do?
It is very important when purchasing a car private sale to make sure the vehicle is really owned by the person you are purchasing it off, and making sure it hasn't already got money owing on it.
We have 20 years experience helping with private sale purchases and complete all the following checks for you:
- PPSR CHECK - To make sure the vehicle isn't encumbered, written off or stolen
- VENDOR IDENTITY CHECK - To make sure the person selling you the vehicle is actually the owner
- VEHICLE INSPECTION - We arrange for the vehicle to have the identifiers inspected, trying to prevent re-birthed vehicles being sold
- BANK ACCOUNT CONFIRMATION - We will obtain proof of the vendor's bank details to make sure the account funds are being paid into match the owner of the vehicle
- ROADWORTHY CONFIRMATION - We will obtain a copy of the RWC for you and ensure it matches the vehicle you are puchasing
Why do we do all these checks?
If you purchase a vehicle from a Licensed Car Dealer they have a legal obligation to ensure clear title on the vehicle, they simply issue you a tax invoice and the transaction can happen smoothly. When you purchase a vehicle without a dealer involved, it is important for your protection (and the protection of the lender) that we check to make sure the person selling the car is the rightful owner, the car is really the one you think you are buying and the funds get to the correct account so you can take delivery of your car as quickly as possible. To make the process easier we complete all of these checks for you and let you know we believe it is safe to continue on with the transaction. Most (if not all) stolen or re-birthed vehicles are sold private sale so it is important to take these extra steps to prevent issues after you have made your purchase.
