WHAT WE ARE BUILDING
Incomplete until all three have acted.
We do not lend, collect payments, hold ownership documents, or decide whether a buyer is creditworthy. What we hold is the assignment, and its defining property is that two parties cannot finish it alone.
- 01
The seller releases
They give up the vehicle and ask to be released from the obligation. On its own this changes nothing, which is the point.
- 02
The buyer accepts
They take on the remaining instalments explicitly rather than by informal arrangement. Still not complete.
- 03
The lender consents
Or does not. Until this exists the transfer has not happened, rather than having happened informally and invisibly.
- 04
The assignment takes effect
All three positions move at once. There is no state where the buyer is paying and the lender still believes the seller is the borrower.
A lender who wants a larger deposit before consenting can still ask for one. What disappears is the version where nobody asked them at all.