Vehicle purchase receipt - "V5C exchanged"

[Dunno123]

Hello,

I am trying to create a receipt as I am selling my car. I have found this template: http://www.theaa.com/car-buying/buyers-sellers-con...

I am just wondering what the "Registration Document (V5C) exchanged yes/no" means. As far as I know, I need to give the buyer the green slip, let DVLA know that I sold the vehicle and then destroy the rest of the V5C. Why is this option even there? Is there any situation when you exchange the V5C?

Thank you in advance for your answers.

[Krikkit]

The form is referring to giving the buyer the "new keeper" section, it's just not very clear.

[Nickp82]

If you sold the car to a trader you would hand them the whole V5 (apart from the yellow bit)

[Dunno123]

Krikkit: This is already mentioned in the 4th point "Buyer has received V5C/2 (green slip) yes/no", so the "exchanging" must refer to something else.

[Dunno123]

Nickp82: That could be it then. Thank you for your answer. I suppose I can just delete this line if I sell it to a private buyer, is that right?

One more question if I may. Is it ok to mention in the receipt that the buyer will pay by bank transfer and include my and his bank accounts in there (so that the payment can be proved should there be any problem)?

[johnnyBv8]

Dunno123 said:

Nickp82: That could be it then. Thank you for your answer. I suppose I can just delete this line if I sell it to a private buyer, is that right?

One more question if I may. Is it ok to mention in the receipt that the buyer will pay by bank transfer and include my and his bank accounts in there (so that the payment can be proved should there be any problem)?

It's your receipt - you can mention what you had for breakfast if you like...

[spikeyhead]

Do the V5C transfer online whilst the buyer is there.

[smoothpiston]

Hi everyone I'm a new user. I also was confused by the "Registration Document (V5C) exchanged" question in the AA Private Seller's Contract and found this thread in a Google search. I have never sold a car before and this is very concerning, surely the AA wouldn't make a mistake like this? I have sent the AA a Tweet querying this and I'll report back when I receive an answer. In the meantime, could anyone recommend another contract template we could use? I likely will be attempting the transfer of registration online but I would also like to give the buyer this "as seen" receipt.

[johnnyBv8]

smoothpiston said:

Hi everyone I'm a new user. I also was confused by the "Registration Document (V5C) exchanged" question in the AA Private Seller's Contract and found this thread in a Google search. I have never sold a car before and this is very concerning, surely the AA wouldn't make a mistake like this? I have sent the AA a Tweet querying this and I'll report back when I receive an answer. In the meantime, could anyone recommend another contract template we could use? I likely will be attempting the transfer of registration online but I would also like to give the buyer this "as seen" receipt.

It's not concerning and it's not a mistake. Just leave it blank.

[spikeyhead]

spikeyhead said:

Do the V5C transfer online whilst the buyer is there.

^^^This is still very valid^^^