Aston Private Deal Offering

ASTON PRIVATE DEAL PROCESSES AND GUIDELINES

(Documentation will be collected from the Buyer/ seller by an Aston Consultant)

  1. Transaction requirements
    1. A purchase agreement (private transaction) must be entered into with respect to every Private Deal;
    2. Vehicle type – Only Right Hand Drive registered vehicles.
    3. Proof of ownership is a conditional and absolute requirement.
    4. An inspection report, including specific mileage at an Approved COR Centre OR franchise dealer’s report/valuation OR is compulsory;

  2. Requirements from the Purchaser
    1. The purchaser (applicant/customer) must be able to fulfill the following requirements and secure the ensuing documents before a Private Deal may be considered:
      • Private Persons - a copy of Identity Document, copy of Driver’s License, proof of address not older than 3 (three) months, latest salary slip and 3 (three) months bank generated statements.

  3. Requirements relating to proof of ownership
    1. The seller must be able to provide acceptable proof of ownership to the vehicle by the production of:
      • An original letter from a reputable financial institution fully identifying the vehicle and confirming that it has been fully paid for in full; or
      • With respect to vehicles encumbered by way of a financial agreement, the seller must be able to provide the details of his account number and the name of the specific financial institution in order for Aston to request the settlement letter and NATIS document, the financial institution should be in possession of the NATIS Registration Certificate and arrangements will be made by Aston to secure same.
    2. In ALL instances the seller is required to produce a valid roadworthy certificate.
    3. An HPI check is performed by Aston on all vehicles and any discrepancies / mismatches are to be investigated and resolved before the Private Deal is concluded.

  4. Payment to Sellers/Financial Institutions
    1. Any financial institution having an interest in a respective vehicle sold and financed in terms of a Private Deal will be settled by Aston.
    2. Any proceeds after settlement of any relevant financial institution will be paid to the seller only upon receipt of the original NATIS Certificate by Aston.
    3. If there is no financial institution to be settled, the seller will be paid by Aston, who must deliver the original NATIS Certificate to Aston before payment.
    4. Where applicable, the Bank, the seller and the Customer will be informed of any delays in obtaining the relevant NATIS Certificate.

  5. Registration of Vehicles 
    1. Aston will be responsible to register all vehicles being the subject of a Private Deal in accordance with the provisions of the National Road Traffic Act No. 93 of 1996 and to secure the original Natis Certificate and ensure that the Customer is registered as ‘Owner’ and the Bank as ‘Title Holder’ in accordance with the provisions of the said act.
    2. Aston will attend to the licensing of a vehicle and the license and registration fees being included in the principle debt in terms of the Credit Agreement.

  6. Aston’s national service undertaking:
    • HPI Check (confirming ownership and in most cases accident damage)
    • Finance facilitation and co-ordination between buyer and seller
    • Vehicle inspection
    • Requesting settlements and settling the vehicle
    • Disclosure documents completed and signed by seller
    • Dealer stock: Aston
    • Title Holder - finance House
    • Licensing Officer contracted to Aston
    • Licensing and Registration
    • Requesting the Finance contract
    • Co-coordinating the signing of the contract
    • Recourse to the Dealer in the event of non-disclosure 

REQUIREMENTS from Buyer Financing a vehicle

  1. VALID ID
    As per FICA , Original to be sighted and verified at time of signing
  2. VALID DRIVERS LICENCE
    As per FICA , Original to be sighted and verified at time of signing
  3. PROOF OF ADDRESS
    As per FICA, Original to be sighted and verified at time of signing
  4. LATEST PAYSLIP AND 3 MONTHS BANK STATEMENTS
    As per FICA, Original to be sighted and verified at time of signing
  5. INSURANCE CONFIRMATION
    Must be provided on or before signing of contact OR Aston will arrange an insurance quotation.
  6. PRIVATE DEAL ACCEPTANCE FORM
  7. PRE AGREEMENT QUOTATION / COST OF CREDIT

SELLER REQUIREMENTS

  1. SELLER APPLICATION
    The seller must be the Legal Registered Owner of the vehicle
  2. COPY OF NATIS / LOGBOOK
    ( VEHICLE’S REGISTRATION PAPERS ) The original will be required for licensing purposes.
  3. SETTLEMENT DETAILS IF ENCOMBERED or POSITIVE PROOF OF PAYMENT IF THE VEHICLE IS FREEHOLD
    Settlement details if vehicle is currently financed or recently paid up. If vehicle was purchased cash a invoice from dealership showing the date of purchase, vehicle details, amount and receipt from dealer that monies have been received
  4. COPY OF C.O.R
    Must be done at approved testing station. The vehicle is to pass a 40 point inspection, roadworthy test and HPI report. Should any discrepancies be detected on the Engine or Chassis numbers, the vehicle will have to undergo a police clearance?
  5. LICENSE DISK IS IT STILL VALID
    Personalized number plates must be uplifted by the seller and any arrears license fees and traffic fines to be settled prior to finalizing the transaction.
  6. PROOF OF SELLERS BANKING DETAILS
    By way of cancelled cheque or bank statement
  7. PROOF OF EXISTING WARRANTY
    If there are outstanding fines, the Seller will be expected to settle these fines before concluding the deal


PAYMENT PROCEDURE

  1. WHERE NO SETTLEMENT IS PAYABLE TO A FINANCIAL INSTITUTION
    Payment will be made electronically into Sellers bank account within 24 hours of receiving signed Credit Agreement.
  2. WHERE A SETTLEMENT IS DUE TO A FINANCIAL INSTITUTION
    The settlement will be paid electronically to the relevant finance institution
  3. KINDLY NOTE THAT WE RESERVE THE RIGHT TO WITHDRAW THE APPROVAL SHOULD ANY NEW OR PREVIOUSLY UNDISCLOSED FACTS EMERGE OR SHOULD THERE BE A CHANGE OF VEHICLE OR SELLER DETAILS.
    ALL NEGOTIATIONS REGARDING THE PURCHASE PRICE, CONDITION, COST OF THE 40-POINT INSPECTION AND ROADWORTHY ARE BETWEEN THE BUYER AND SELLER