Accommodation sale
Sell a truck to one of your drivers, with the buyer’s financing included. The law requires a licensed dealer: we play that role.
At a glance
- Our role
- Dealer holding a SAAQ licence
- Check
- RDPRM search
- Financing
- The buyer's
- Documents
- Those required for registration
One of your drivers wants to buy back their truck
When a fleet sells a truck to one of its drivers, it disposes of an asset and the driver becomes the owner. As soon as financing is involved, the sale must go through a licensed dealer.
We handle the transaction as an accommodation sale, check the RDPRM and finance your driver.
- Your business
- Receives the sale price. The balance still owed on the truck is paid off to the lender.
- Your driver
- Becomes the owner, financing included, and registers the vehicle.
- The lender
- Obtains its security on the truck, registered at the RDPRM.
- 1.The agreement
- Your business and your driver agree on the truck and its price.
- 2.The RDPRM search
- We identify the rights registered on the vehicle and the balance to pay off.
- 3.The financing
- We present the buyer's file to the lender that suits them.
- 4.The documents
- We complete the documents required by law, and the buyer registers the vehicle.
How the transaction works
When several rights are registered on a truck, each one must be settled before the sale. That is the step that takes the most time and a good knowledge of the register.
What the law requires
When a vehicle or equipment is purchased in Québec and the transaction includes financing or refinancing, it becomes an accommodation sale: the law requires it to go through a dealer holding a valid licence, who completes the documents required for the buyer to register the vehicle.
The RDPRM, the Register of Personal and Movable Real Rights, is the public register where the rights a creditor holds on property are recorded. It reveals whether equipment carries a debt, and checking it protects every party.
Start your file
Enter the amount you have in mind and we will call you back to complete the file. Free and without commitment.
Or call (514) 648-8487
Free quote, several lenders compared.
Can one of our drivers buy back their truck?
Yes. Because financing is involved, the sale must go through a dealer holding a SAAQ licence, which is our role. Your business receives the sale price, and your driver leaves as the owner with their financing. See accommodation sales.
Why is an accommodation sale mandatory?
In Québec, when the sale of a vehicle or equipment includes financing or refinancing, the law requires it to go through a dealer holding a valid licence. The dealer completes the documents required for the buyer to register the vehicle. See accommodation sales.
What is the RDPRM?
The Register of Personal and Movable Real Rights (RDPRM) is Québec's public register where the rights a creditor holds on property are recorded. An RDPRM search reveals whether a piece of equipment carries a debt, and protects both the buyer and the seller.
Our driver is starting a business: can they be financed?
Yes. A new business has no financial history yet, so the choice of lender matters even more: that is our job. For permits and registration, Lavoie Transit, our sister company, supports new drivers as they get started.
Caroline LavoiePresident, sales and financing
A sale to a driver in the works?
(514) 648-8487Monday to Friday, 8 a.m. to 5 p.m.
Toll-free (800) 663-8487