Advice on selling to someone taking out finance on vehicle
Discussion
Hi guys and girls. I'm looking for a little advice on this. I am selling a car and have someone who wants it. Only thing is that he is taking out used car finance. I have sold lots of cars but never had this situation so I just want to make sure everything that is being done is 'legit' as there are so many scams out there now...
The company he is using is called Zuto and they have asked for -
· Colour V5 with your name and address
· Both parts of driving licence confirming your name and current home address
· Proof of bank details showing your full name, account number and sort code (void cheque/paying in slip or bank statement)
· MOT certificate
· A photo of the car with you in the photo, this is just so we can confirm you are the owner of the car.
I'm to email the above documents to the guy at Auto. Does this all sound normal? Do I just wait until the full amount is in my account and then go ahead with the car sale as normal?
Thanks for your help.
The company he is using is called Zuto and they have asked for -
· Colour V5 with your name and address
· Both parts of driving licence confirming your name and current home address
· Proof of bank details showing your full name, account number and sort code (void cheque/paying in slip or bank statement)
· MOT certificate
· A photo of the car with you in the photo, this is just so we can confirm you are the owner of the car.
I'm to email the above documents to the guy at Auto. Does this all sound normal? Do I just wait until the full amount is in my account and then go ahead with the car sale as normal?
Thanks for your help.
If it's https://www.zuto.com/understanding-car-finance/ then it's true finance, not a loan. So the finance company is buying the car and then selling it on to the other party. Since Zuto are not the finance company, but merely acting as a commission-earning agent, they'll want to minimise the chances of anything going wrong, so they almost certainly want to HPI the car themselves and check that the seller is real.
Doesn't strike me as particularly scammy, aside from the fact that Zuto only seem to deal with purchases from dealers and not private sales.
ETA, I take that last bit back - their own blog mentions that they do get involved in private sales too : https://www.zuto.com/blog/dealer-or-private-seller...
Doesn't strike me as particularly scammy, aside from the fact that Zuto only seem to deal with purchases from dealers and not private sales.
ETA, I take that last bit back - their own blog mentions that they do get involved in private sales too : https://www.zuto.com/blog/dealer-or-private-seller...
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