Number plate issues . Contract

[Wish]

Hi.

Trying to keep this brief.

I have sold a number plate via a sales company for over £35k
I have uploaded the paperwork on their portal, however 24hrs later I’m not sure I want to let the plate go. I’ve owned it for 25 years and a. In two minds. It’s not really about the value it’s more of missing the plate.

I spoke to the sale person and advised I was in two mind about the Registration Transfer ……
They advised it was too late to change my mind and I was now in contact.

Would there not be a cooling off period. ? It was done by phone and their Registraion Transfer ;-) app ?


Many thanks

Wish

[davek_964]

Surely "cooling off period" is usually for the buyer, not the seller.

[paul_c123]

Presumably "the paperwork" is the retention certificate showing the code. Its too late.

[Buster73]

Wish said:

Hi.

Trying to keep this brief.

I have sold a number plate via a sales company for over £35k
I have uploaded the paperwork on their portal, however 24hrs later I m not sure I want to let the plate go. I ve owned it for 25 years and a. In two minds. It s not really about the value it s more of missing the plate.

I spoke to the sale person and advised I was in two mind about the Registration Transfer
They advised it was too late to change my mind and I was now in contact.

Would there not be a cooling off period. ? It was done by phone and their Registraion Transfer ;-) app ?


Many thanks

Wish

Put yourself in the buyers shoes and how would you feel if the seller messed you about .

You agreed to the deal , be a man of honour and stand on your original decision.

[Ussrcossack]

You could always ask what will it cost to buy out of the contract

[Peter911]

You are too late. Out of curiosity, is there CGT now due?

[Wish]

Many thanks all

[alscar]

Most if not all plate companies contracts are "instant ".
I guess if they don't have a buyer yet then always possible that the transfer paperwork hasn't yet gone to DVLA.
You could throw yourself at their mercy and ask for the contract to then be cancelled although I presume there would then be a cancellation fee.

[alscar]

Peter911 said:

You are too late. Out of curiosity, is there CGT now due?

"Technically " yes assuming said sale raises more than your CGT allowance.
In reality I would query how many bother to declare.

[Frane Selak]

£35k or a bit of plastic with some letters on it, its a poser. If you think the plate is important then ask a friend if they knows wat the plate says/is. They probably won't have a jar of glue because they aren't interested, no-one ever is let alone a bunch of strangers who will be the ones seeing it every day.

[paul_c123]

Frane Selak said:

£35k or a bit of plastic with some letters on it, its a poser. If you think the plate is important then ask a friend if they knows wat the plate says/is. They probably won't have a jar of glue because they aren't interested, no-one ever is let alone a bunch of strangers who will be the ones seeing it every day.

That may be true of lesser ones but £35k+ plates are generally decent ones which are meaningful to the owner or more widely.

[Wills2]

If you've done a deal you need to be good to your word, you must have had reasons to get to the point whereby you'd sold it, regret isn't uncommon whether buying or selling.

[paul_c123]

It would be ironic if the plate was NO75URE

[RSTurboPaul]

What do the terms and conditions say?

[Panamax]

Presumably the plate in question is "4 NDY", purchased by a gentleman who's recently relocated from Windsor to Norfolk.

[RSTurboPaul]

https://www.regtransfers.co.uk/company/terms

2.2 FORMATION AND COMPLETION OF A CONTRACT

A contract for the purchase of a Registration ( Transaction ) becomes binding upon (a) our confirmation, which may be sent by email or provided verbally by a telephone operator, that we accept your offer to buy the Registration ( Formation ); and it is only fully performed or finalised ( Completion ) once the Registration has been validly transferred or assigned in accordance with these Terms. If dealing by telephone, we will confirm when Formation has occurred, and may also confirm Completion at the end of the call or in writing thereafter.


5. SELLING A REGISTRATION

5.1 PRICE

You may enter into a Transaction (Section 2.2) for the sale of a Registration. In such cases, you agree to sell the Registration at a specific price (the “Actual Selling Price”). If we act as broker, the buyer will pay an “Actual Buying Price.” Our profit in a brokered sale arises from the difference between the Actual Buying Price and your Actual Selling Price.

5.3 TRANSFER OF YOUR REGISTRATION TO THE BUYER

Once you receive a confirmation letter from us for a Sale Transaction, you must:

For Registrations on a Certificate. Send or upload the valid and unexpired Certificate to us within seven days.
For Registrations Assigned to a Vehicle. Send or upload the V5C (logbook) within seven days. Advise us of the vehicle’s tax expiry date (unless SORN) and ensure a valid MOT, if required.

Failure to provide the required documentation may delay or void the Transaction.



I'm not sure the T&Cs actually state that you enter a contract when selling, and it appears the transaction can be voided by not supplying the paperwork?

IANAL

Edited by RSTurboPaul on Friday 6th February 11:10

[OPUT]

Frane Selak said:

£35k or a bit of plastic with some letters on it, its a poser. If you think the plate is important then ask a friend if they knows wat the plate says/is. They probably won't have a jar of glue because they aren't interested, no-one ever is let alone a bunch of strangers who will be the ones seeing it every day.

Actually I think its £35k and OP gets to keep the bit of plastic with some letters on it; to put almost anywhere with a notable exception.