Buying a vehicle through FinanceBusters is an easy process that encompasses the same research, due diligence and course of action that most private purchases of used vehicles require. The only difference is the included financing component is performed (and processed) either through the original selling dealership or directly through the finance company. The following is a recommended order of operation that should be followed when Buying the FinanceBusters Way. From time to time, the steps listed below do not necessarily take place in this order however the transaction still gets completed in a timely, orderly and professional fashion. The order of operation begins at the stage where the Buyer has selected two or three vehicles currently posted on the FinanceBusters website:

To review the Buying Process of an Outright Purchase click here:

The Buyer makes verbal contact with the Seller

The Buyer and Seller discuss some specific details about the vehicle and the outstanding amount owed to the finance company

The Buyer and Seller arrange a mutually convenient time and date to meet to view the vehicle

The Buyer inspects the vehicle and finance contract to ensure that all the data contained on the vehicle’s Details Page is accurate and matches with the actual vehicle (using the provided checklist).

The Buyer and Seller make an agreement-in-principle depicting the private sale of the vehicle (private sale bill-of-sale). The agreement includes clauses regarding the applicable sales tax payable, vehicle certification, finance contract payout and payout-subsidies (if applicable).
The Buyer will then need to fill out the appropriate credit application and submit to the dealer for approval to take over the finance.

Assuming the Buyer qualifies for credit and receives credit approval; the process continues as follows:

The Buyer and Seller arrange for the vehicle to be mechanically certified (Safety Inspection) and emission tested (if required). The cost of this work should have been discussed and agreed upon during the agreement-in-principle component of the process.

The Buyer and Seller meet at a mutually convenient Motor Vehicle Licensing Office to transfer the ownership/registration and to pay the sales taxes (if applicable). The transaction results in the vehicle’s ownership/registration being changed to the name of the Buyer.

When the finance transfer documentation is finalized (and delivered to either the original selling dealership or Seller) the process continues as follows:

The Buyers signs-on (as assignee) and the Seller signs-off (as transferor) on the finance company-provided finance transfer documents resulting in the finance contract now belonging to the Buyer. This signing exercise would (most often) take place at the original selling dealership (or at a proxy dealership that is mutually convenient for the Buyer and the Seller).

The Buyer receives the cash incentive (if applicable/if negotiated). The cash incentive typically comes in the form of a certified Bank Draft or Cash.

After successfully following to the steps (described above); the deal is done and the transaction is considered closed by the Buyer and the Seller.

Although interprovincial finance transfers are accepted and encouraged (and somewhat commonplace); the steps noted above do take some of the additional required steps and recommendations into consideration; there is however a complete section of the FinanceBusters.ca website that describes interprovincial and long distance purchase/transfers (Finance-Take-Overs).

To Search for the Finance Take Over vehicle that best suits all your needs; click the search button: