> When asked what types of fraud they thought were ‘reasonable’, nearly a quarter (24%) said selling a vehicle privately that was subject to a finance agreement – also known as asset conversion –
Well, if you continue to make payments as required then no-one loses anything.
On the other hand, in the UK anyone can instantly check a vehicle's details because the government has a website that allows anyone to check whether a vehicle is taxed and has an valid MOT (safety check) along with all the vehicles details, including date of last V5C logbook, which means owner has moved or changed. Tax date will probably also change if sold. So, in principle I would expect a decent car finance company to find out fairly quickly!
> When asked what types of fraud they thought were ‘reasonable’, nearly a quarter (24%) said selling a vehicle privately that was subject to a finance agreement – also known as asset conversion –
Well, if you continue to make payments as required then no-one loses anything.
On the other hand, in the UK anyone can instantly check a vehicle's details because the government has a website that allows anyone to check whether a vehicle is taxed and has an valid MOT (safety check) along with all the vehicles details, including date of last V5C logbook, which means owner has moved or changed. Tax date will probably also change if sold. So, in principle I would expect a decent car finance company to find out fairly quickly!