Buying a used car from a private seller can seem like an exciting and affordable option, but it also comes with risks, especially if you’re not familiar with the processes, paperwork, and possible pitfalls. That’s where working with a trusted, experienced finance facilitator like Motorlease Vehicle Finance makes all the difference.
As a registered Financial Services Provider (FSP 8846) with over 30 years of experience, we specialise in private-to-private vehicle finance and understand exactly what’s required to protect both the buyer and the seller in these transactions.
The Risks of Private Vehicle Sales Without a Professional Facilitator
When buying a used vehicle privately without the proper checks and processes in place, you expose yourself to a range of serious risks, including:
- Purchasing a stolen or rebuilt vehicle without knowing it.
- Outstanding finance not being settled, meaning the seller’s bank can repossess the vehicle, even if you’ve paid for it.
- No vehicle inspections being done, leaving you with hidden accident damage or mechanical issues.
- Delays or issues with change of ownership, resulting in legal and licensing problems down the line.
- Scams, where unscrupulous sellers take your money but never deliver the vehicle.
We’ve seen it happen too many times, buyers finding out the hard way, or waiting weeks for a news on whether their finance application has been approved or declined and losing the vehicle in the process as the seller has already moved on to another buyer.
What Motorlease Does to Protect You
When you use Motorlease Vehicle Finance, we take care of every step in the process, ensuring both the buyer and seller are protected. Here’s what we offer:
• Vehicle background and finance checks: Confirming there’s no stolen status, rebuilt classification, or outstanding finance.
• Finance application to all major banks at once: Saving you time, protecting your credit score, and giving you the best chance of approval.
• Negotiating the best rates and terms on your behalf: Thanks to our long-standing relationships and high volumes with the banks.
• Vehicle inspections: Ensuring you know exactly what you’re buying, with no hidden surprises.
• Guaranteed payment to the seller once all conditions are met.
• Handling the change of ownership process: Making sure the legal ownership of the vehicle is properly transferred.
• Dedicated support with the banks: Our specialist teams at each bank assist us with difficult transactions, giving your application a much higher success rate than going directly.
Why Not Apply to the Banks Directly?
While it might seem easier to apply for finance yourself, the reality is very different:
- Applying directly means multiple applications hit your credit profile, lowering your score.
- You’ll have to repeat the application process with each bank and wait for feedback.
- Banks typically don’t offer as competitive rates to individual applicants as they do to facilitators managing high volumes.
- You won’t have the benefit of an expert who knows how to structure your application for the best chance of success.
- Private sale transactions are more complex than dealer sales, and most bank call centres and branches aren’t geared for it.
Many of our clients who tried applying directly have told us they waited two to three weeks for approvals or were declined due to small issues that could have been managed upfront.
Motorlease: Trusted, Honest, and Client-Focused
At Motorlease, we pride ourselves on:
- Excellent customer service
- Honest, transparent advice
- Always acting in our clients’ best interests
We charge a once-off facilitation fee for managing the entire process, but the peace of mind, time saved, and risks avoided far outweigh the cost.
Final Thoughts
When it comes to buying a used vehicle privately, working with a professional finance facilitator like Motorlease Vehicle Finance isn’t just a convenience, it’s a smart decision that can save you money, time, and legal headaches.
We’ll get you the best deal, ensure the vehicle is legitimate, manage the paperwork, and protect both buyer and seller.
If you’re planning a private vehicle purchase, contact Motorlease Vehicle Finance today, your safest route to stress-free private vehicle finance.