Buying a Car from a Company (Director)
25 July 2005, 09:32 PM
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Buying a Car from a Company (Director)
Am going to view a car tomorrow - it's had one owner from new, who is a company director in a partnership (2 person company), and it's a company car.
He says he can sell it being a director, not sure who's on V5 - I guess the company.
Anything i should check or look mout for, not having bought this way before.
He says he can sell it being a director, not sure who's on V5 - I guess the company.
Anything i should check or look mout for, not having bought this way before.
26 July 2005, 11:14 PM
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It all seems legit - he's a director, and the car is registered to the company.
May be paying cash, but will get a company receipt, and probably go to the company head office too - what could go wrong????????
May be paying cash, but will get a company receipt, and probably go to the company head office too - what could go wrong????????
27 July 2005, 02:38 PM
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Couple of points
1. who’s name is on the V5, is it person specific or in the company name
2. Have you done a hpi check
3. Is the vehicle owned but the company uses a fleet management company to facilitate the running of the vehicles in which case the V5 will have two names on it i.e. fleet management company / operating company
You basically have two types of director
1. Main / operating board directors
2. “plastic” directors i.e. title only (usually sales people it looks good in front of customers)
If the vehicle is in your contacts name is HP clear and all relevant documentation is present and correct then go for it, but get a written receipt on company headed paper signed by the highest person available i.e. MD/ Company Secretary etc. someone other than your contact basically.
Therefore if it does go t!ts then you can counter the “the person selling the vehicle was not authorised to do so” argument by involving some other senior person within the organization
1. who’s name is on the V5, is it person specific or in the company name
2. Have you done a hpi check
3. Is the vehicle owned but the company uses a fleet management company to facilitate the running of the vehicles in which case the V5 will have two names on it i.e. fleet management company / operating company
You basically have two types of director
1. Main / operating board directors
2. “plastic” directors i.e. title only (usually sales people it looks good in front of customers)
If the vehicle is in your contacts name is HP clear and all relevant documentation is present and correct then go for it, but get a written receipt on company headed paper signed by the highest person available i.e. MD/ Company Secretary etc. someone other than your contact basically.
Therefore if it does go t!ts then you can counter the “the person selling the vehicle was not authorised to do so” argument by involving some other senior person within the organization
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