The BVRLA has published an updated factsheet for members, explaining how to determine whether or not a finance house still has title to a motor vehicle which has been sold to a third party whilst still subject to an outstanding finance agreement.
The BVRLA has published an updated factsheet for members, explaining how to determine whether or not a finance house still has title to a motor vehicle which has been sold to a third party whilst still subject to an outstanding finance agreement.
Conversion fraud is one of the most common types of fraud affecting the asset finance industry and therefore the BVRLA is urging members to become familiar with the steps needed to determine whether you are dealing with a legitimate transaction where you have lost the title to the third party, or whether you can take action against the party currently in possession (or anyone else who has dealt with the vehicle) to recover the vehicle and/or damages.
Members can access the factsheet on our website.
