How Skoot Works

How It Works

4 easy steps

01 Create a transaction

Enter the registration of the car you want to buy or sell to create the transaction and invite the other party.

02 Verify your ID

Once you’ve both accepted the transaction verify your ID with only a driving licence using bank-grade ID verification so all parties can be certain with who they are transacting with.

03 Set up the payment

Buyers: Upload funds to your FSCS-protected Skoot wallet to generate a sale contract and verify DVLA info against the V5C for security. 

Sellers: Confirm your UK account to receive payment and get notified when funds are ready. Then, arrange to meet.

04 Buyer and seller agree

Buyer and seller agree and sign the contract. The funds are instantly the ownership of the seller who will receive them by the next working day. Both parties receive a receipt, a copy of the contract and a handy next steps guide to ensure the ownership is transferred correctly.

Getting started with Skoot

From your skoot dashboard select if you are buying or selling a car and follow the steps to create a transaction and invite the other party. Once the invitation has been accepted by both parties, skoot will guide you through the steps required ahead of meeting up to buy or sell your car.

For Buyers

You’ll need to verify your ID, create your skoot wallet and upload your money ready to buy your car.
At the meeting, compare the information from your skoot security check with that on the V5C.
Using skoot, you can be sure the identity of the seller has been verified and matches that on the V5C, the car matches what is registered with the DVLA, and the V5C is the most recent issue.

For Sellers

You’ll need to verify your ID and bank account to be ready to receive your money from selling your car.
You must have the car’s V5C and keys with you at the meeting.
You can hand over the keys safe in the knowledge that your funds are held securely in an FSCS protected account.
No need to wait for unpredictable bank transfers. Skoot will automatically transfer the funds to you by the next working day.

Contract Signing

When you are both satisfied, you can electronically sign the contract, automatically locking in the funds held by skoot. They can no longer be refunded to the buyer.