V5 / Selling a car - Urgent Advice

[mls678]

Hi all.

Looking for a quick bit of advice

I accepted a deposit on my car two weeks ago and explained to the buyer that the v5 was with the DVLA to take my private plate off the vehicle. Seller was happy and paid a deposit

DVLA still haven't sent me the v5 but the seller is asking if he can bank transfer me the full amount and take the car now an we complete the v5 when it arrives. (DVLA reckon middle of next week latest an say thy have delays at the moment)

Is there any risk me taking his payment (bacs) and letting him go with the car before signing the v5 in a few days time?

Any advice ASAP appreciated

Thanks

[DazBock]

I'm suprised the buyer is happy. When I have transferred the plate over and sold the car I have always waited for the new v5 to arrive.

Remember that you will technically still own a car that is in someone else's possession therefore all the speeding fines etc will come to your address until transferred. I am not sure if there are any legal implications.

I would hold on if I were you.

[kiethton]

Take the BACS payment, it can't be reversed. All the worry lies with the seller as you may not send it on (although you will) and they would be liable for the £25 to get another.

For ease draw up a sales receipt - The AA/RAC have a good template and keep a copy and allow the seller one, then sign and complete the DVLA transfer when the replacement is received.

You can always double check yourself by writing to DVLA advising them of the sale and the new owners detials, although shouldnt be necessary with only a week or so left.

If it helps I took £14k for my 335i by BACS from a chap in NZ and continued to use the car for a further week before it was collected - I completed the V5 when the driver arrived.

[mls678]

Thanks. Anyone else got a thought on this? DVLA seem to think it's ok...

If you don’t have your V5C registration certificate
If you don’t have a V5C registration certificate write to DVLA, Swansea, SA99 1AR giving the:
◦ vehicle registration mark
◦ make and model
◦ exact date of sale
◦ name and address of the new keeper
◦ your signature

https://www.gov.uk/notifying-dvla-if-you-sell-your...

[bp1000]

I bought my xfr without a v5 present. It was for exactly the same circumstances.

I was worried at first but I did my homework. The v5 isn't proof of ownership, it says that on it. I did however see a scanned copy, I did a hpi on the car, came back ok, his name address was on the purchase receipt, his driving licence and he even showsd me his land registry document. I even phoned the place he bought the car from and the confirmed the details I read out to them to be correct so I knew he owne the car.

Final nail was he offered to phone the dvla on speakerphone and confirm he was the registered keeper at the name, address and reg number. Reg matched hpi, hpi match vin in all places, deal done.

V5 turned up 2 weeks later and completed and sent back off. Purchase receipt stated he was the registered owner and keeper and date and time of sale. If I got and fines we had the sale receipt so he could claim back from the dvla he wasn't the current driver,

Worse case you say log book is lost and buy a new one for £25, providing you can be 100% he is the correct owner,

This is all written from a buyers prospective.

As a seller, all you need to worry about is offences. A purchase receipt and copy should solve that.

[Harpo]

''Remember that you will technically still own a car '' WRONG

''Take the BACS payment, it can't be reversed'' WRONG

Mate, serious ......... your research is the replies on here? FFs!

[confused_buyer]

Harpo said:

''Take the BACS payment, it can't be reversed'' WRONG

Mate, serious ......... your research is the replies on here? FFs!

It isn't *that* easy to reverse a BACS payment - otherwise virtually no business transactions would take place in the UK.

[steve singh]

Risk is with buyer and not you - assuming honest parties.

What you should do next time is go with the buyer to the dvla office and they can do all the paperwork so that you get your private plate back on retention certificate and the buyer automatically gets the new V5 with the reassigned standard number plate...

[rallycross]

steve singh said:

Risk is with buyer and not you - assuming honest parties.

What you should do next time is go with the buyer to the dvla office and they can do all the paperwork so that you get your private plate back on retention certificate and the buyer automatically gets the new V5 with the reassigned standard number plate...

they dont do it over the counter anymore at DVLA offices its a 5-7 days turnaround even if you go in.

[sc0tt]

Also bks.

They did mine last sept even though a big sign on the door said no.

Chelmsford office

[steve singh]

rallycross said:

steve singh said:

Risk is with buyer and not you - assuming honest parties.

What you should do next time is go with the buyer to the dvla office and they can do all the paperwork so that you get your private plate back on retention certificate and the buyer automatically gets the new V5 with the reassigned standard number plate...

they dont do it over the counter anymore at DVLA offices its a 5-7 days turnaround even if you go in.

They don't give you the new v5 there and then - but they buyer knows the v5 will be sent them in due course directly from the dvla and the seller knows the dvla will send them the private plate retention certificate...

[locogeoff]

I think there is something that has been overlooked, i.e. What plates will the car be running on until you get the v5 back, do you already know the age related assigned number?