Purpose of Report:
To identify all deals where the customer has negative, or no equity in their part-exchange. These situations are the most common that result in manipulation of vehicle values to satisfy the minimum finance company deposit requirements.
Associated Risks:
The deals identified by this report should be examined closely, including a comparison of order forms and sales invoices with finance proposals and agreements. For sales on HP the supply is to the finance company and the transactions details notified to them must agree with those declared to HMRC. There are no exceptions to this rule.
