Getting the paperwork right when selling your car!
Making sure the paperwork is right is essential when it comes to selling your car. Not only is it vital but the more paperwork and documentation you have with your car the better it will be.
There are a few things that you’ll need when it comes to parting with your prised possession. The first and most important document of them all is the V5C or as it is sometime more commonly known as the logbook. What this document does is show that the car you are selling actually belongs to you and that it’s registered under your name. In other words, you have the legal right to sell it. The V5C will list your details, such as your name and your address. If these details are not present on the V5C then you’ll find it very difficult to get someone to purchase the car from you. As well as showing that the car belongs to you, you will also find other details about the car on the V5C. For example, you’ll find the vehicle’s engine size, body type, registration (VRM) and the vehicle registration number (VIN). Buyers will take a good look at the V5C document and make sure that all of these details match the car being sold.
When you’ve found a suitable buyer and they’re ready to buy your car then you’ll need them to complete section 6 of the V5C document. This will be headed “New keeper or new name/new address details”. They will also need to complete section 10 headed “New keeper’s details” with their details as they will be the new owner of the car. You, along with the buyer, will also need to complete the declaration in section 8.
Next tear off section 10 and then give it to the person that’s buying the car. They can the temporarily use this section to prove that they are the car’s new keeper. You then need to pop the V5C document in the post to the DVLA who will use it to update their system. If you fail to send off the V5C then any tax reminders or parking and traffic fines will be sent to you and not the new owner. This is because the DVLA’s database will still believe that you are the legal owner of the car.
It’s a good idea to gather any MOT certificates you have with the most important one being the most recent. Other good documents to have at hand are any service or repair receipts as this will show any potential buyers what work has been carried out on the car since you’ve owned it. Providing these documents gives buyers the added confidence that the car has been well looked after and that it’s legally roadworthy. Once you’ve sold your car you can hand over all the relevant documents, aside from the V5C, to your buyer.
The last thing you should do is write out two receipts. They should outline the basic details of the car such as make and model, registration and VIN and mileage. It should also list the time and date of sale. Finally, add the amount that the car has been sold for. You may also want to add a declaration that the car is “sold as seen”. You will both then need to sign both copies. Hand over a copy of the receipt to the buyer and keep the other copy for your own records.
That’s it, you’re all done! If you’re looking to buy or sell a used car then why not take a look at the DesperateSeller.co.uk website. We have thousands of motors for sale and you can advertise your car within minutes!
