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PRIVATE VEHICLE TRANSACTIONS

ACCEPTANCE FORM

Thank you for choosing TransACTdirect to facilitate your Private to Private transaction through Nedbank / MFC.
This transaction requires that the following documentation be submitted and the below conditions be met.
Please read through this acceptance form carefully to ensure you are informed about all required documents,

all required stages and time frames. This information will greatly assist to get the process running as smoothly
as possible.
As proof of acceptance of the terms and conditions in this form, both the buyer and seller will be required to sign
this document and fax / email the signed copy to TransACTdirect.
Contact details are:
0861 0861 55 (Tel) 0865 037 337 (fax)

info@transactdirect.co.za (email) webpage: www.transactdirect.co.za

What you as the buyer need to give TransACTdirect


In order for TransACTdirect to conclude this transaction its important that we receive the following documents
from the person buying the vehicle.

A scanned copy of your bar coded South African ID with a clearly visible face.
A scanned copy of your card type drivers licence.(Drivers must be valid)
Insurance confirmation with the following information on:
o Person buying the vehicle as the policy holder, regular driver and registered owner.
o The full vehicle description as per approval including Engine, chassis and Registration Number.
o Inception date of this policy needs to be the date of the contract and Nedbank needs to be
noted as Bank of interest (Insurance has to be comprehensive.)
Signed Warranty Disclosure Form (Supplied by TransACTdirect) We require all vehicles to have a
Warranty for at least 12 months. You may select one of our approved suppliers or send us proof of your
own.
Proof of physical address not older than 3 months. (Insurance confirmation though a Financial Services
Provider may be used as proof of address)
If there is a deposit to be paid by the buyer, it must be paid to TransACTdirect and show in its bank
account before the contract will be drawn up for signing. No deposit may be paid to the seller.

If a financial transfer we will require the above documents and the following.

No Warranty will be required, we will however require the disclosure form to be completed
A copy of the Natis and consent form must be completed.
Valid settlement letter
A signed VAT 264 Form (SUPPLIED BY TransACTdirect)

If you are purchasing through a Company/ Sole Proprietor

Directors / Members to complete application Income and Expenses as well as consent and signed by
Directors / Members.
Copy of Certificate of Incorporation (Pty) Ltd
Copy of CK 1 and Ck 2 documents
6 Months of company banks statements
Proof of address in the business name (Utility account not older than 3 months)
Proof of address in the directors / members name
ID and Drivers in the directors / members name
Traffic register number needs to be supplied by you if buying on a company name.

SIGNATURE OF BUYER:

DATE

SIGNATURE OF SELLER

DATE

PRIVATE VEHICLE TRANSACTIONS

ACCEPTANCE FORM

What the seller needs to provide


In order for TransACTdirect to conclude this transaction on behalf of MFC/Nedbank we will require the following
documents from the person selling the car

Scanned copy of your bar coded ID.


If a company is selling the car we will require all company documents and proxies if applicable.
o ID and Drivers in the directors / members name.
o Copy of CK 1 and Ck 2 documents
o If more than one Member / Directors a proxy or a company invoice confirming the sale of
vehicle.
Roadworthy certificate not older than 6 months.
AA Dekra 101 point check
A copy of the NATIS (REGISTARTION DOCUMENT) which can be obtained from your current financial
institution or if you are the owner you should have that at hand.
Location of NATIS Form (SUPPLIED BY TransACTdirect) If your Vehicle is not under finance we will
only release funds to you after either TransACTdirect or a Nedbank Branch is in possession of the
original Natis.
A settlement letter or paid in full letter from your current finance house.
If the Vehicle is not under finance and was bought cash from a dealer/ Private individual we will require
o An invoice / Signed sales Agreement with a Bank statement or EFT to show where and how
the payment was made. (This is for money laundering purpose) If there no proof of payment we
will have no choice but to cancel the deal.
o This is not required for any vehicle bought more than 5 years ago
Sellers bank details (SUPPLIED BY TransACTdirect)
Proof of your banking details (CANCELLED CHEQUE OR BANK STATEMENT)
Proof of address for registration purpose.
A signed VAT 264 Form (SUPPLIED BY TransACTdirect)
o There cannot be VAT charged or claimed on any private to Private sale. For this reason we
work on Notional VAT as it is legally required to be shown on our invoice and contract.
Consent form (SUPPLIED BY TransACTdirect)o This gives TransACTdirect permission to request and re-register the vehicle in the new
owners name on your behalf.

Please make sure when sending us any documents that you put your case or reference number on
everything so that we can allocate it correctly.

SIGNATURE OF BUYER:

SIGNATURE OF SELLER

PRIVATE VEHICLE TRANSACTIONS

ACCEPTANCE FORM

OFFER TO PURCHASE BETWEEN BUYER AND SELLER:


BUYER

SELLER

NAME:

_____________________

NAME:

_____________________

SURNAME:

_____________________

SURNAME:

_____________________

ID NUMBER:

_____________________

ID NUMBER:

_____________________

COMPANY NAME

_____________________

COMPANY NAME: _____________________

COMPANY REG NO

_____________________

COMPANY REG NO: ___________________

E-MAIL ADDRESS

_____________________

E-MAIL ADDRESS: _____________________

WORK TEL

_____________________

WORK TEL:

_____________________

CELL NO:

_____________________

CELL NO:

_____________________

IF COMPANY

PHYSICAL ADDRESS: _____________________

PHYSICAL ADDRESS: ___________________

VEHICLE DETAILS
MAKE AND MODEL: _____________________

SELLING PRICE:

_____________________

YEAR MODEL

_____________________

DEPOSIT IF APPLICABLE _________________

AUTO OR MANUAL: _____________________

AGREEMENT DATE ____________________

PETROL OR DIESEL: _____________________


LEATHER OR CLOTH: _____________________
EXTERIOR COLOUR _____________________
INTERIOR COLOUR: _____________________
REGISTRATION NO: _____________________
ENGINE NUMBER

_____________________

CHASSIS NUMBER

_____________________

ODOMETER READING: ____________________

SIGNATURE OF BUYER:

SIGNATURE OF SELLER

PRIVATE VEHICLE TRANSACTIONS

ACCEPTANCE FORM

FEES INVOLVED IN THIS PROCESS:


BUYER:
Please note that these fees are normally added to the principle debt and financed. Please inform our agents if
you wish to pay any of these upfront.
Transact directs fee is for the facilitation, verification and re-registration of your Vehicle and it is:
R3 950 inc vat for all services

Please note.
There is a Nedbank / MFC Initiation fee of R1 140, 00 Inc Vat, that will be charged once off and added to the
financed amount by the Financial Institution. A R57 service fee will also be charged by MFC/Nedbank for
statements and administrative services.
For our full range of available products please feel free to call one of our friendly consultants.
Once a deal has been invoiced and then cancelled by either party (Buyer or seller) besides MFC/Nedbank and
or Transact direct there will be a R2000 cancellation fee charged.

SELLER:
The Roadworthy should cost +-R350, 00 not including the AA 101 point check.
DEKRA AA Roadworthy including the AA 101 point check should cost +-R584.00 for both

SIGNATURE OF BUYER

PRIVATE VEHICLE TRANSACTIONS

ACCEPTANCE FORM

IMPORTANT INFORMATION FOR BOTH BUYER AND SELLER


TERMS AND CONDITIONS OF OUR PROCESS
TransACTdirect has been appointed by NEDBANK and MFC to handle all their documentation, administration

and verification on their behalf.


We are here to ensure that the vehicle is a financeable asset to the buyer and the Bank.
We also ensure that the seller receives his Funds in the shortest time possible.
Our process takes between 2 - 14 working days once we have received all the documents from both parties
involved and there are no unforeseen problems on the deal.
NOTE: TransACTdirect will not continue with this transaction if this acceptance form is not read and signed by
both buyer and seller.
Once the buyer has signed their contract it takes +-2-5 working days for us to receive the funds from NEDBANK
/ MFC and once all documentation is in place we will pay the seller.
If the seller is the paid up owner of the vehicle and in possession of the NATIS (registration document) Please
note that TransACTdirect must be in possession of this document before payment will be released. This NATIS
be courier from any NEDBANK. NO NATIS NO PAYMENT
If there is a settlement required from a finance house we will not take responsibility for what so ever reason
for any shortfalls or expired settlements, it is the duty of the seller to make sure we have a valid settlement on
date of payment.
No contracts will be requested if we have not received all required documents and both buyer and seller
agreeing on the purchase price and fees of the transaction.
Please note TransACTdirect will not take any responsibility for any delays if it is found that the delay was
caused by Nedbank, MFC or TransUnions side. This is as we cannot control their internal processes.
TransACTdirect pride themselves in a custom made automated system and you will be kept informed at all

times via E mail, SMS and or a phone call from our consultants.
If you have any complaints or compliments for TransACTdirect
customercare@transactdirect.co.za and it will be attended within 24 hours.

ACCEPTANCE OF TERMS AND CONDITIONS

SIGNATURE OF BUYER:

SIGNATURE OF SELLER

please

send

it

to

PRIVATE VEHICLE TRANSACTIONS

ACCEPTANCE FORM

STEP BY STEP GUIDE OF OUR PROCESS


STEP 1
After your application has been received by TransACTdirect you should receive an answer from MFC a
division of Nedbank and be notified within 8 hours with the term, rate and any credit conditions.

STEP 2
Our consultants will explain our terms and conditions to both buyer and seller and go through the process and
all the documents we will need to proceed. There will also be an application pack with all required
documentation and information sent via e-mail

STEP 3
Once we receive all required documents from the buyer and seller your file will go to our verifications office.
Verifications can take 2-48 HOURS depending on the quality of the documents and the information they
receive from Transunion (At this stage we check ACCIDENT DATA, ENGINE CHANGES & FINANCE HISTORY)

STEP 4
Once verifications have been done our consultants will call to confirm the cash price and if you adding the fees
to the finance or paying for it upfront. If there is a deposit on the approval the client (BUYER) will be asked to
deposit these funds into transACTdirects account.

STEP 5
Once the deposit has been paid and all details confirmed the deal will be invoiced.
The invoice will be sent to both buyer and seller to sign as to agree with the cash price.

STEP 6
TransACTdirect will send our invoice to MFC a division of Nedbank for the contract to be drawn (CONTRACTS
CAN TAKE 2-6 HOURS TO BE DRAWN UP)

STEP 7
Once we have received the contract one of the consultants will contact the buyer to make an appointment to
sign at your closest Nedbank branch (ALL CONTRACTS NEED TO BE SIGNED UNDER A LICENSED FSP) they will
also inform the buyer of what original documents to bring with (FICA LAW)

STEP 8
Once all documents have been signed and witnessed the consultant we will request pay-out. (CAN TAKE +-2-5
WORKING DAYS)

SIGNATURE OF BUYER:

SIGNATURE OF SELLER

PRIVATE VEHICLE TRANSACTIONS

ACCEPTANCE FORM

STEP 9
TransACTdirect will receive the funds and hold them until we have a valid settlement letter and or the original
NATIS . Only then will we will pay the seller and or finance house.

STEP 10
We will request the original NATIS from the finance house (where applicable) on your behalf and register the
vehicle into buyers and NEDBANKS name (REGISTARTION CAN TAKE ANYTHING FROM 2-5 WORKING DAYS
ONCE RECIEVED)

STEP 11
A copy of the re-registered NATIS will sent the buyer a copy with licensing instructions to license the vehicle
(VEHICLES NEED TO BE LICENSED NO LONGER THAN 21 DAYS AFTER REGISTRATION)
TAD will take no responsibility on delays from the Financial Institutions in getting the Original NATIS and or the
licensing of the vehicle. All fines and outstanding amounts are for the buyers expense.

Important information

Please Read carefully

The time it takes to complete a private transaction varies greatly as it depends on the availability and
receipt of the required documentation and the cooperation of all parties involved. The process can take
anything from 2 to 14 days.
The acceptability of the age of the vehicle to be financed will be subject to the creditworthiness of the
buyer and credit approval.
The net income of the applicant may not be less than R5 000.
The rate of interest applicable to each transaction is subject to normal credit assessment rules or to the
applicable company scheme rate.
MFC a division of Nedbank does not finance rebuilt vehicles, code 3 vehicles, stolen and recovered
vehicles, damaged vehicles or vehicles where an engine change has taken place, unless it was done by
the manufacturer.
All approval conditions must have been met and all documents must have been received for payment to
be effected.
Should there be a split payment to a finance house; the seller will receive payment only once delivery
has taken place.
Please note: The delivery note and/or seller's receipt guarantees the seller that payment will be made
and so can be used to effect delivery
TransACTdirect at no point sees the condition of the vehicle. For this reason we request the roadworthy,
101 point check and do a HPI check on the vehicle. Due to these measures if there is any dispute that
arises out due to vehicle faults these disputes are between the buyer and the seller and at no point will
TransACTdirect become involved

SIGNATURE OF BUYER:

SIGNATURE OF SELLER

PRIVATE VEHICLE TRANSACTIONS

ACCEPTANCE FORM

transACTdirect
Telephone:

0861 0861 55

Facsimile:

086 503 7337

E-Mail:

info@transactdirect.co.za
customercare@transactdirect.co.za (for any complaints or compliments)

WEBPAGE:

www.transactdirect.co.za
(DOCUMENTS CAN BE UPLOADED DIRECTLY ONTO OUR WEBSITE)
If the documents are uploaded it could decrease the turnaround time in our process