Tabz @ S.M.Auto's

iTrader: (1)

Basically, I have had somebody view my R32 but he does not have the funds to purchase, however he is very keen on the car and has even offered more then I intially wanted.
Does anybody here know of any companies that will provide finance for it, even though the car is not on there fourecourts?

Graceland

www.moneysupermarket.com

car loans

Iain Mac

Tell him to sort out a loan with his banlk or one of the reputable loan companies. You can't do it for him unless you hold a Consumer Credit Licence - Category C for Credit Brokerage, and the Z extension for Off Trade-Premises.

If you do it without the licence you are committing a criminal offence and penalties can be severe - but none of the loan companies will take an introduction from an unlicenced source as they would also be commiting an offence and the loan would be unenforceable (ie they may not get their money back)

andyt

iTrader: (1)

bank loan far much easier and alot cheaper tell him to try northern rock well cheap APR at the min

Tabz @ S.M.Auto's

iTrader: (1)

cheers guys, im not to clued up with the whole finance thing.
However I did mention him getting a loan but he said he needs to get it on finance.
Whats the difference?

Sexy-RS

Will have to be a P loan

Iain Mac

A loan is just one form of finance.

There is no particular advantage to Hire Purchase over a loan, except that from the lender's point of view the bank/loan company has security over the car until it is fully paid for, whereas with a loan, the bank/loan company have no claim on the car.

I can't see any realistic way that he will generate a HP agreement for a private sale - that becomes a tripartite arrangement and there is a disadvantage to the lender in that you could (potentially) be in cahoots with the buyer to sell a dud car and they become jointly liable to put it right with no real come-back against you.

Nath

To be honest I wouldnt of even entertained the guy if he has no funds but agree with the above comments as I use to do finance on cars for a few years ago in dealerships.

Good luck with the sale

tonyk

Tell him to try capital bank motor, they specialize in car finance and are owned by royal bank of scotland. I belive they do an option for private cars but they must be AA inspected and HPI clear. He may have to stump the cash up for it.