What does 'Underwrite Required' mean on tipstrade?

[elanfan]

Seen a car I like the look of and started to do a bit of googling for further info. The car came up on the tips trade website with correct vehicle colour mileage etc but said 'Underwrite Required' in one of the fields. The car is a private sale as far as i can tell (on autotrader). So any idea what this means?

[DocArbathnot]

elanfan said:

Seen a car I like the look of and started to do a bit of googling for further info. The car came up on the tips trade website with correct vehicle colour mileage etc but said 'Underwrite Required' in one of the fields. The car is a private sale as far as i can tell (on autotrader). So any idea what this means?

This is where a vehicle has been offered in PX but the deal hasn't been done yet. Dealer wants a firm bid on the car before he brings it into stock. If yours is the top bid and he "deals" on it you own the car.

[uncinquesei]

Used to use Steve Carter at tips trade all the time when I was at wolves Audi. Basically, the owner has tried p/exing their car - the dealer has passed the details on to Tips for them to get an underwrite ie get another dealer to bid on the car. Tips pass on the details, get a commission and the original dealer has a price to go back to owner with. Some dealers (we were one) would not give a customer a p/ex value unless it was underwritten. Tips were also useful if you had something a bit unusual that your normal traders would shy away from.