scooby-doo-where-r-u

iTrader: (3)

Hi All,

Quick question that I was hoping some legal type person might be able to help with?!?!?!?

Just purchased a new car, but have decided not to keep it! I haven’t collected the car or paid the balance, purely the deposit.

Due to the waiting list on these cars I have managed to sell it privately for a premium, the buyer is paying me the premium plus my initial deposit on the car later today. But he is paying the balance through a finance company directly to the dealer! This is where the worry and doubt starts to creep in, especially as you hear about all sorts of fraud and stuff these days.
The car is registered in my name, which means the invoice he has requested the dealer sends to his finance company will have my name on the top, along with my address etc. etc.

The Finance Company is paying for the car 1 day before I collect it, should that have any relevance!

Is there anyway he could take the finance out in my name? And leave me with no car and a huge great loan?!?!?!?!

As of yet he doesn’t have my bank details, but when he pays me later this week he’s going to request them? Which means he surely has all the info. he needs to do such a thing!?!?!?!

Am I being really stupid here, or could this be feasible?? even though i wouldn't have signed any legal contract or anything actually!! Should I provide him with a friends or family members bank details instead? As these would then not match the address and name provided on the invoice, which would mean the finance company wouldn’t be able to do the finance……..

Any help would be appreciated more than you would know.

davegtt

Sounds like hes just buying a car off you thats on finance, Hes paying off the finance directly to the company and taking the car away, obviously hes given you your deposit back and the premium. All you have to do is contact the finance company and confirm hes paid the outstanding balance before transfering the V5 from your name to his....

Cant see the problem

scooby-doo-where-r-u

iTrader: (3)

The thing is, he's not paying off the finance before he picks the car up! he's paying it off monthly, well i hope HE is!!

As far as i can tell it should be legit, after all, i haven't signed any finance agreemant with the company, so i should have no ties!

I'm only being like this as you hear about stolen identity horror stories now and again

OllyK

It's not like you're buying a car that is on finance. Assuming you get paid safely - cash / bankers draft etc and the garage are happy with their payment, sign the car over to him, no problem. He won't be able to set up a credit agreement in your name unless you've signed something

scooby-doo-where-r-u

iTrader: (3)

Thats what i thought, just wanted someone to confirm it.

Cheers

FlightMan

Yes I am attempting to con you.


Ooops.

SPG

Plus the name on the documents have to match the name on the invoice.

R 14NS R

as far as i am aware a finance company will not fund a car unless it is registered in the person getting the finances name which may be why he wants the finance in your name.

the finance agreement would need to be signed by you anyway before they can take any money etc, along with proofs ie picture driving license and or passport and utility bills in your name and address