Walker Insurance & Finance Services is able to offer a regulated and UK-based escrow for vehicles.
Escrows, as we know, may be used to transfer ownership of many things – from property to companies, and from commodities to vehicles.
Within this site we have already discussed online sales within the internet escrow pages, and this section is concentrated more upon purchases of vehicles in private sales, vintage vehicles, company vehicles (such as JCBs, trucks, and fork trucks etc.), and vehicles purchased overseas.
Vehicle escrows have seen wide use in the United States, where traditionally a cheque is made for the purchase prior to title transfer, but now it is common practice to place the money into an escrow, guaranteeing safety until all the paperwork is completed.
When it comes to purchasing vehicles overseas, many purchasers and sellers have found Letters of Credit difficult and at times impractical, but with a secure escrow account the transaction can be relatively straight-forward. This may involve ensuring delivery takes place, ensuring that the conditions are met, and that the ownership titles are in order, and, of course, that the vehicle is what it purports to be.