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  Reply # 2171017 31-Jan-2019 20:50
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When I sold my car the purchaser was getting a loan via a finance company. The finance company required a copy of my license to go through the transfer of car details with NZTA. I did object to them taking a copy of it as they could not give any of the information that can be requested under the Privacy Act. It came down to it that if I wanted the purchasers to buy the car the lender needed a copy.

When I've bought cars privately I gave also viewed the licence of the seller.

In this case arrange to meet the purchaser at their fniance company.





262 posts

Ultimate Geek
+1 received by user: 71

  Reply # 2171096 1-Feb-2019 07:36
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Yes definitely good advice, I'm thinking I'm going to walk away from this, I mean I can't understand why a finance company wants to pay me directly?
If I take out a loan from any of them once approved they simply deposit the money into my bank account and I can go and buy whatever I like with it, right?
this is normal practice that they pay directly as the money is used for its intention as the car will be used as security. The same if you consolidate your debts. The finance company pays your debtors for you so money is used for the correct purpose. They will also ask for proof of debt. These are not banks you are dealing with. Too much tinfoil hat stuff going on

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