Sold car; Buyer wants V5 as trade details.

[JoPo1]

Sold my Lamborghini yesterday and owner paid and took it away.

He didn’t get the V5 as I had taken my private plate off and was awaiting the V5 with original mark coming through.

It arrived today and I texted him to let him know I’d received the new V5 and I’d change the RK details online tomorrow.

He’s just replied saying he isn’t keeping the car anymore and is going to sell it. He’s requested I fill the trader section in and send the V5 to him to prevent another owner?

Is there any issue here? An I leaving myself open to anything?

Cheers

[MuscleSedan]

No problem as long as you have buyers full name and address details. Keep a copy of the V5. Note date and time buyer took car in case of anything untoward cropping up from others driving while still registered to you.

[gaseous clay]

"Sorry mate, missed your text, I've already filled it in."

[sherman]

He bought the car not a company. Finish your sale with him. Let him deal with the 'extra owner' on the v5.

[Cold]

sherman said:

He bought the car not a company. Finish your sale with him. Let him deal with the 'extra owner' on the v5.

This. Fill in the appropriate sections and send it off, send him the New Keeper supplement and let him deal with his problem of whatever he's told his buyer.

[ridds]

Can't see why you wouldn't fill in the trade section?

You still have have his details, it stops another owner showing on the V5, can't see how any of that puts you at any risk.

[LooneyTunes]

Potentially hassle for failing to notify change of keeper? https://www.pistonheads.com/gassing/topic.asp?t=15...

Doesn’t it all sound a bit implausible? Buys a Lamborghini and inside a matter of hours decides he no longer wants it and has a dealer lined up to take it? Of course it ends up being entirely up to you how much you believe this vs the alternative of potentially having various things turn up to you as the RK?

[ARHarh]

But surely filling in the trade section changes the keeper to the trader? What is the issue, once you change it to the dealer it is no longer your problem?

[bearman68]

ARHarh said:

But surely filling in the trade section changes the keeper to the trader? What is the issue, once you change it to the dealer it is no longer your problem?

This - who cares what he does with it as long as you are not involved.

[stevemcs]

Just fill it in online, just say sold to a business, ask him for his business details.

The dvla can still see who is responsible for the vehicle, they don’t care who owns it as long as they can chase someone for road tax. It does not matter if it goes into the trade or registered against a private individual you have your money and are no longer responsible for the car.

Ask him for his vat number if you want to fill it out a post the v5 off, I think there is still a box for it - although in reality it’s not needed.

[griffter]

Is he asking you to fill it in with him/his business as the trader? Or has he agreed to sell the car to a trader and it’s their details he wants you to use?

If the former I can’t see much risk, although whether he ever intended to register the car privately is in question.

If the latter I smell a rat. If the trader taking the car has a problem (say the vehicle was misdescribed) you could - on paper at least - be in a pickle.

[jjr1]

This is not that complicated.

The guy who bought your car is a trader. He might not have told you that but he is.

If you want to be helpful to him just fill in the trade slip with his details. If you want to be a dick fill in his details as the new keeper. It makes no difference to you which you fill in as you are simply informing DVLA of a change of keeper.

[NDA]

Is there a tax advantage for your (trade) buyer - in that his purchase will not be recorded anywhere as far as HMRC are concerned?

[jjr1]

NDA said:

Is there a tax advantage for your (trade) buyer - in that his purchase will not be recorded anywhere as far as HMRC are concerned?

No tax advantage it just stops the addition of one more owner to the V5.