Selling a car back to a trader
Discussion
Two weeks ago I took delivery of a new (s/h) car. Great!
Unfortunately it proved to have lots of problems and then broke down, so I invoked the 14 day 'return if not happy' guarantee, and they're coming to collect it tomorrow. Great!
I said to them that once they've refunded the money to my account, they can take the car away and I'll go to https://www.gov.uk/sold-bought-vehicle and mark the car as 'Sold to a trader'.
However they've replied with 'to make things easier for both yourself and us could you please call us with the document reference from the current V5 and we will bring the vehicle into the trade online, this will promptly follow a confirmation email from the DVLA to yourself to confirm the sale.
Why do they want to do it? Does it give them some loophole I haven't spotted?
Also, I thought that once a bank transfer appears in your account the money is safe. However I've heard that it can disappear again - is that true? Should I move it immediately into another account with the same bank?
I'm pretty sure everything will work out but with £25K at stake I don't want to leave anything to chance. Thanks!
Unfortunately it proved to have lots of problems and then broke down, so I invoked the 14 day 'return if not happy' guarantee, and they're coming to collect it tomorrow. Great!
I said to them that once they've refunded the money to my account, they can take the car away and I'll go to https://www.gov.uk/sold-bought-vehicle and mark the car as 'Sold to a trader'.
However they've replied with 'to make things easier for both yourself and us could you please call us with the document reference from the current V5 and we will bring the vehicle into the trade online, this will promptly follow a confirmation email from the DVLA to yourself to confirm the sale.
Why do they want to do it? Does it give them some loophole I haven't spotted?
Also, I thought that once a bank transfer appears in your account the money is safe. However I've heard that it can disappear again - is that true? Should I move it immediately into another account with the same bank?
I'm pretty sure everything will work out but with £25K at stake I don't want to leave anything to chance. Thanks!
A couple of years ago I had quite a large sum of money transfered to me for the sale of a classic bike, when I checked with bank when it would be safe to let it be collected, they categoricaly assured me that once the money was showing in my account as cleared funds there was no way the sender could take it back and the only time it could re claimed was by the bank themselves if a fraud / criminal activity or similar was suspected
Cue lots of people saying the opposite, but I can only state what I was told by the bank
Cue lots of people saying the opposite, but I can only state what I was told by the bank
Simpo Two said:
Two weeks ago I took delivery of a new (s/h) car. Great!
Unfortunately it proved to have lots of problems and then broke down, so I invoked the 14 day 'return if not happy' guarantee, and they're coming to collect it tomorrow. Great!
I said to them that once they've refunded the money to my account, they can take the car away and I'll go to https://www.gov.uk/sold-bought-vehicle and mark the car as 'Sold to a trader'.
However they've replied with 'to make things easier for both yourself and us could you please call us with the document reference from the current V5 and we will bring the vehicle into the trade online, this will promptly follow a confirmation email from the DVLA to yourself to confirm the sale.
Why do they want to do it? Does it give them some loophole I haven't spotted?
Also, I thought that once a bank transfer appears in your account the money is safe. However I've heard that it can disappear again - is that true? Should I move it immediately into another account with the same bank?
I'm pretty sure everything will work out but with £25K at stake I don't want to leave anything to chance. Thanks!
Just say you're going to do it the way you originally suggested. It should make no difference to them. If they get prickly call Trading Standards.Unfortunately it proved to have lots of problems and then broke down, so I invoked the 14 day 'return if not happy' guarantee, and they're coming to collect it tomorrow. Great!
I said to them that once they've refunded the money to my account, they can take the car away and I'll go to https://www.gov.uk/sold-bought-vehicle and mark the car as 'Sold to a trader'.
However they've replied with 'to make things easier for both yourself and us could you please call us with the document reference from the current V5 and we will bring the vehicle into the trade online, this will promptly follow a confirmation email from the DVLA to yourself to confirm the sale.
Why do they want to do it? Does it give them some loophole I haven't spotted?
Also, I thought that once a bank transfer appears in your account the money is safe. However I've heard that it can disappear again - is that true? Should I move it immediately into another account with the same bank?
I'm pretty sure everything will work out but with £25K at stake I don't want to leave anything to chance. Thanks!
Pothole said:
Just say you're going to do it the way you originally suggested. It should make no difference to them. If they get prickly call Trading Standards.
They said 'There is no specific reason, it's just a formality as bringing a vehicle into the trade is a process we do regularly as you can probably imagine.'Does that add up to you? The DVLA site says:
Give the log book to the buyer, including the green ‘new keeper’ slip.
Tell DVLA you’ve sold the vehicle using this service.
Destroy the yellow ‘sell, transfer or part-exchange your vehicle to the motor trade’ section from the log book.
Then again, as long as I get paid, and confirmation from DVLA the car is sold (in case they pop a speed camera on the way back), perhaps it doesn't matter...
Don't worry about it. They are transferring the ownership into the trade, so they can keep the V5 and not put any additional owners on it. It's also much quicker, as they will want to sell the car ASAP. It's a very standard way of doing things.
But I'd still get a receipt, and make sure the money is in the bank first.
But I'd still get a receipt, and make sure the money is in the bank first.
bearman68 said:
Don't worry about it. They are transferring the ownership into the trade, so they can keep the V5 and not put any additional owners on it. It's also much quicker, as they will want to sell the car ASAP. It's a very standard way of doing things.
But I'd still get a receipt, and make sure the money is in the bank first.
Thanks. I will be damn sure to check the money before handing anything over, but I doubt the bloke collecting it will be geared up with any paperwork/receipt. Anyway, if something does go wrong I can report the car stolen.But I'd still get a receipt, and make sure the money is in the bank first.
Aha maybe that's why they want to do the DVLA bit themselves as it will be immediate; for all they know I might not bother to do it here. Once they've done it I can't report it stolen.
Anyway, if it does go pear-shaped, then seeing as the car was a blatant MOT failure I shall throw the farm at them
Simpo Two said:
Thanks. I will be damn sure to check the money before handing anything over, but I doubt the bloke collecting it will be geared up with any paperwork/receipt. Anyway, if something does go wrong I can report the car stolen.
Aha maybe that's why they want to do the DVLA bit themselves as it will be immediate; for all they know I might not bother to do it here. Once they've done it I can't report it stolen.
Anyway, if it does go pear-shaped, then seeing as the car was a blatant MOT failure I shall throw the farm at them
No need to call the police and report it’s stolen. It is a civil matter every day of the week. Aha maybe that's why they want to do the DVLA bit themselves as it will be immediate; for all they know I might not bother to do it here. Once they've done it I can't report it stolen.
Anyway, if it does go pear-shaped, then seeing as the car was a blatant MOT failure I shall throw the farm at them
Gassing Station | Speed, Plod & the Law | Top of Page | What's New | My Stuff