Not in the trade but filling out the trade section of the V5

[Escy]

If for example you're not in the trade, you're advertising your car privately, someone offers you another car as a part-ex (say something mainstream and easier to sell on), you don't want to keep it, just sell it straight on. If you register it in your name you are adding another owner and having to insure it / remove road tax, plus you'd need to wait for the v5 to be sent to you. Could you fill out the v5 trade section? Can anyone fill it out? Are the details checked to see if you are a registered trader?

Edited by Escy on Friday 13th September 08:22

[Toaster Pilot]

If you're taking a car in part exchange to sell on at a profit you sound like a trader to me. Why fk around with all of the hallmark traits of a dodgy home trader if you don't want to actually be one?

[Terminator X]

Buying a car and selling it on for more money doesn't = trader. If the OP has a forecourt full of cars then maybe

TX.

[jay140285]

To really, I was selling an RX8 so not the easiest to sell. I was selling die to work miles mounting up and ordered a company car.

I did a deal with someone and took an Astra in PX against it which had a wider market and sold within a week when advertised.

I did however add an owner to the V5 by registering it in my name for a couple of months and using it.

I agree with the OP, if it is possible to do as he asks it would have been sold sooner and without an additional owner.

Doesnt make me a trader does it!

[confused_buyer]

There is no such thing as a "registered trader" so, yes, if the seller will do it you can go ahead and fill in the trade section.

The only possible disadvantage to this is a visit from HMRC sometime down the line if you haven't put in a tax return with your car profits on it. However, on one car, the chances of this are slim to nil so I wouldn't worry.

Technically, if you are buying and selling anything with the intention of reselling then you are trading whether you are trading in apples, pencils or cars.

There is also the issue that if you have never been the registered keeper then it is clearly not a regular private sale when selling on so the buyer may have some more comback under consumer legislation if it blows up after they buy it.