Distance Selling

Here you'll find everything you need to know when selling finance to customers at a distance. It's important to note that these rules are different for cash buyers who purchase a vehicle at a distance.

HAS THERE, OR WILL THERE BE, ANY FACE-TO-FACE CONTACT WITH THE CUSTOMER BEFORE THE FINANCE DOCUMENTS ARE SIGNED?

If the answer to the above question is "No", this is a distance sold agreement - you must tick the "Distance Sold" box in FAMOS before you submit the proposal to Underwriting.

If a sales executive or driver gives the finance agreement to the customer at their home address to sign face-to-face, then this is not a distance sale as there will be some face-to-face contact before the agreement is signed.

ADDITIONAL UNDERWRITING CHECKS - ENHANCED DUE DILIGENCE (EDD).

Ticking the “Distance Sold” box in FAMOS, allows us to be a responsible lender by carrying out further checks on the customer to comply with Anti-Money Laundering Regulations.

This can sometimes involve the customer to participate in our Open Banking service [Coming Soon - More About Open Banking] . To ensure an efficient turnaround of the proposal, we strongly encourage you to make customers aware of this process so they know what to expect and can authorise us to access their banking information quickly & securely.

ACCURATE CUSTOMER DOCUMENTATION.

Ticking the "Distance Sold" box in FAMOS before submitting to Underwriting ensures the customer receives the correct documentation and legal rights. Without this, there is a high risk of significant financial impact on both the Partner and Financial Services.

We strongly recommend you take advantage of our e-Sign process when signing customers onto their finance agreement. One of the key advantages of this process is that we’ll undertake additional identity checks which means you don’t need to lamp and stamp the original photo ID (e.g. driving licence or passport).
 

If you need to Ink Sign documentation through the post, the risk of fraud is increased and you will need to lamp and stamp the original photo ID prior to submitting documents to Payout.

DELIVERING THE VEHICLE.

If there is a need to deliver the vehicle off-site, it must be delivered at the Customer’s home address only.
 

Please remember, the vehicle must be collected by the individual named on the finance agreement and on the photo ID.