Sorry for the long thread topic but chasing a wee bit of advice regarding selling my Van. Buyers financial institute rang to say the buyers finance has been approved but they need copy of my Bank Statement , Rego Papers , Licence , and a couple of other Pics of van and odds. BANK Statement they said was to deposit The Money into my account when all goes through.
Rego and Licence for signiture , who i say i am , make sure van is mine etc..
Sounds a tad odd to me but does this sound above board!!??..
Should the seller be handing out said info ??..
Dont mind copy of Rego papers , and they should be able to find if van is under debt or stolen being a financial instute surely without all the above.
Didnt sound like a Scam and sounded quite polite when he rang , but being a tad on in age and having survived thus far i like being a tad wary lol..
Sorry for the long thread topic but chasing a wee bit of advice regarding selling my Van. Buyers financial institute rang to say the buyers finance has been approved but they need copy of my Bank Statement , Rego Papers , Licence , and a couple of other Pics of van and odds. BANK Statement they said was to deposit The Money into my account when all goes through.
Rego and Licence for signiture , who i say i am , make sure van is mine etc..
Sounds a tad odd to me but does this sound above board!!??..
Should the seller be handing out said info ??..
Dont mind copy of Rego papers , and they should be able to find if van is under debt or stolen being a financial instute surely without all the above.
Didnt sound like a Scam and sounded quite polite when he rang , but being a tad on in age and having survived thus far i like being a tad wary lol..
Wow! You can be sure that I would not be sending my bank statement.All they need is name of account holder,BSB and Account number.Rego papers is a given,but I can't see that a driver's licence is necessary? If finance has been approved,why would they need photos of van? Perhaps I have become suspicious with old age,but something doesn't ring true her? Are you able to personally visit the purchaser's financer? Perhaps your bank can help? Good luck,but I'd be careful.Cheers
There is no need to provide any personal financial information when selling anything. Refuse point blank.
Legal requirements to sell is; registration papers - You will need to provide BSB and Account Number only for funds to be deposited directly into your account.
All Financial Institutions have the means to check bona fides of vehicle ownership.
If buyer pulls out you have just saved yourself being swindled.
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My thought exactly also??, thought ide ask incase things may have changed over time..
I did feel uneasy about said request and stated the case also..
After all im not the one requesting the loan...
There is no need to provide any personal financial information when selling anything. Refuse point blank.
Legal requirements to sell is; registration papers - You will need to provide BSB and Account Number only for funds to be deposited directly into your account. All Financial Institutions have the means to check bona fides of vehicle ownership.
If buyer pulls out you have just saved yourself being swindled.
I don't think it's a scam but certainly over the top. A financial institution has an obligation by law to ensure the borrower is protected. They need to ensure that firstly the van isn't stolen and that the person selling the van is the legal owner...hence the ID and rego papers.
Bank account details for payment but bank statement not necessary.
Before you do anything check the credentials of the finance company by asking the buyer for their details. Alternatively you can refuse to supply the information in which case you will probably lose the sale.
Independent financiers are more comfortable funding a purchase from a licenced dealer because title is guaranteed rather than a private sale.
-- Edited by montie on Thursday 25th of February 2021 09:40:25 PM
Yes thank you all kindly for input n advice.
Doubt it may be a Scam ???? , and agree about protecting the buyer also believe these financial lenders can tell if on we is the legal owner or if Van may be stolen by the Van details ie VIN , Chassis No. , Roadworthy and Rego certificates etc.
Asked a Financial adviser advice regarding my post and his adice was "Beware" FOR SOME OF WHAT THEY ASK.
Maybe getting set up unawares as a Garauntee incase buyer defaults down the track.
Forgot to also say they wanted certain forms signed as well as my mechanics details and reort from him which yes maybe in protection of the buyer ??.
Advice given was maybe best give the recomended info and might be best look for another buyer save regrets.
Another option might be to supply the name / town location of your bank branch and require the buyers finance people to contact your bank to simply ascertain whether you are in fact, a valid customer. For them to do this via public channels should be enough ... you are not supplying phone numbers etc that might be fraudulent
Thanking all Kindly again :). Called the deal off as also wanted myself to pay for a full inspection report of Van:)..
Did Roadworthy and Gas certificate and was okay with that but for some of the other personal details they wanted was a NO!! from me ..
So again thanks for replies ..
Thanking all Kindly again :). Called the deal off as also wanted myself to pay for a full inspection report of Van:).. Did Roadworthy and Gas certificate and was okay with that but for some of the other personal details they wanted was a NO!! from me .. So again thanks for replies ..
Well done.....from the beginning,it seemed that something wasn't right.Cheers.
Thanking all Kindly again :). Called the deal off as also wanted myself to pay for a full inspection report of Van:).. Did Roadworthy and Gas certificate and was okay with that but for some of the other personal details they wanted was a NO!! from me .. So again thanks for replies ..
Well done.....from the beginning,it seemed that something wasn't right.Cheers.
After speaking to the buyers financial adviser /organiser i am glad i didnt go along with the sale to him
(1) Attitude
(2) Our way or the Highway outlook
(3) Have Grandson Studying Law because he wishes to enroll into the police Force and he was saying you would be surprised what one can do and do , do with ones Bank Statement and Licence Copy!!..
Just thsoe two things alone !!!...
Maybe old and suspiciouse but glad im of the old School and listen to the little invisible fella that sometimes sits on my shoulder and gives me a clip under the ear if about to do something that may land me in the shyte..
So yes and in the meantime i think i have another genuine buyer though do feel a tad sorry for the Young fellow who initially wanted to buy the Van but got stuffed around by his financier for said reasons , even if the may be legit reasons ..
