Anyone sold with Zuto before?

[Bobton125]

Selling a car on autotrader and had a call from someone claiming to be from Zuto and that they have a customer who wants to finance my car.

They said they will pay me in full for the car after I email them a copy of
-driving licence
- bank statement
-v5
-mot certificate
-picture of me stood next to the car with reg showing

To me this has scam written all over it and I decided to just ignore.. however I’m curious because they seem to be a legit company and oddly have quite high trust pilot Ratings.

Anyone ever had this before?
Be very surprised if this is genuine

[Draxindustries1]

If this was legit they may ask for the V5 but the rest of that list is irrelevant.
Surprised they didn't ask for your bank card details and PIN number as well..

[Mark V GTD]

If you think the company itself is legit then the thing to do is ring them (using the number on their website rather than the email) and ask to speak to the person who sent you the email - that should reveal if its a scam or not.

[georgeyboy12345]

Mark V GTD said:

If you think the company itself is legit then the thing to do is ring them (using the number on their website rather than the email) and ask to speak to the person who sent you the email - that should reveal if its a scam or not.

This.

[johnoz]

Bobton125 said:

Selling a car on autotrader and had a call from someone claiming to be from Zuto and that they have a customer who wants to finance my car.

They said they will pay me in full for the car after I email them a copy of
-driving licence
- bank statement
-v5
-mot certificate
-picture of me stood next to the car with reg showing

To me this has scam written all over it and I decided to just ignore.. however I’m curious because they seem to be a legit company and oddly have quite high trust pilot Ratings.

Anyone ever had this before?
Be very surprised if this is genuine

Yes that all sounds correct.
I thought the same too when I first heard of it, but thats the was they work.
Think its all too prove that the car exists..

[Harleyboy]

Hi,

Zuto is a legit operation - they are a motor finance broker that have a panel of FCA approved lenders. I don’t have experience selling with them but I can vouch for them being a professionally run company.

Not sure that helps you?

[joropug]

I had a call from them when selling , presumably prompted from the finance calculator they put on autotrader.

They said John had spoken to you about buying your car and has approached them for finance , all we need is v5 etc.

“John” had sent “is it still available” the night before , that was it.

Company seemed legit but why complicate things for yourself, adding a third party into a transaction? Personally I wasn’t interested at all. Buyer’s problem not yours.

[vikingaero]

It is a legit company. Apart from normal finance for buying via dealers, they also provide finance for people wanting to buy cars from private sellers which is why they have more hoops.

[CoolHands]

I wouldn’t do it, sounds like a load of crap. Let the buyer sort out their own finance surely; it’s not your problem. I just wouldn’t entertain it.

[KTMsm]

I know many Traders who sell to them BUT with Traders they have a lot of onerous terms and conditions, I don't think they could do the same with Private Sellers but read all the small print

However I would contact them directly and see because it's not easy to sell a car at the moment

[vikingaero]

CoolHands said:

I wouldn’t do it, sounds like a load of crap. Let the buyer sort out their own finance surely; it’s not your problem. I just wouldn’t entertain it.

Depends on what you are selling. If it's a £2-3k car, you'll just accept cash or bank transfer. If it's a £50k and you don't want to go near a dealer because of sale or return or failing to settle finance scam then a lot of people will need finance. Unless you arrange your own bank loan it's difficult to finance a car purchased from a private individual. That's where companies such as Zuto come in. They obviously want proof of who you are, that you own the car and that the car exists and is in your possession, before they effectively hand over "their" money. It's moving with the times.

[Trevor555]

Zuto finance cars between private seller and private buyer?

Secured against the car?

So if buyer gets a faulty car what then?

Raise quality complaint against the finance company who took it on without inspection?

[joropug]

Trevor555 said:

Zuto finance cars between private seller and private buyer?

Secured against the car?

So if buyer gets a faulty car what then?

Raise quality complaint against the finance company who took it on without inspection?

This was unclear to me too - there is no advantage to the seller that’s for sure. Someone else will buy it.