v5c form - 'is it safe ?'

[jpaul]

Had a legit buyer (judging by their fbmarketplace history & location) turn up at pre-arranged evening viewing, with a couple of mates, travelled 40miles.

my last communication yesterday prior to visit
OK - if you come along tomorrow pm and say you want to buy - it's yours, I will hold it, and can do the v5 transfer/take-away at w/e say ? <my address>
see you tomorrow.

They looked over car, asked questions, and started it, but didn't want a test-drive (I had previously expressed surprise they didn't want to see it in daylight too)
and then wanted to complete the purchase using v5c form + bank transfer - would you have sold ?

If they the wanted car I had expected them to come back at w/e (per msg) when I would have used the dvla website (before 7pm) to notify the change,
I thought this was inherently more secure as you have an exact timestamp on the transaction;
I would have also pre-prepared some receipt templates too, and asked them to bring along/show an ID like a driving license (even if I can see money in my account)

They subsequently rather guilt tripped me - he had already taken out temp insurance - would you do that w/o seeing car?
.. maybe I'm paranoid

 

[IC3]

People work, maybe he couldn't organise anyone to give him a lift earlier... I've sold/bought few cars past 7PM and did the V5C transfer the next day.

 

[bigmike20vt]

probably me being thick.... but I am struggling to see the problem. so long as you agree that you won't do the v5 transfer until the money shows up in your account I would go with it.
I would explain if they are worried about the money being in limbo for a while you would happily take a small holding fee and the. go to the bank to do it, mind you all of my private sales have involved (sometimes large bags of) cash!.
bear in mind depending on the bank the banking app may limit the amount you can transfer. Barclays for instance limit you on the app.... but not on the website

ps DVLA website? I must be a dinosaur as I just did the tear off slip on the v5 when I bought and sold my cars.

how much money are we talking (ballpark). if it's just a few K cash is still easier imo. it gets a bit silly once you go over £10k then tho I guess

 

[dlockers]

Once you've got the money not sure what you're saving w.r.t. v5. The car is gone at that point and if it's fraud, it's fraud.

 

[jpaul]

I've sold/bought few cars past 7PM and did the V5C transfer the next day.

I'd thought the buyer needed to see you complete the transaction online (but have never used or seen a simulation of how it works .. first car i've ever sold in uk)
will system allow you to backdate transfer, or you are, legally, just doing it asap ?

ps DVLA website? I must be a dinosaur as I just did the tear off slip on the v5 when I bought and sold my cars.

I thought site was date&hour timestamping the transfer (protecting you if their were subsequent speeding) , and you have take vagaries of the postal system out of the loop;
just a couple of K and I would have not handed over keys until I could see online deposit.
v5c fraud I'd read about too, perhaps avoided, too - where someone takes the numeric code on the v5 and could transfer ownership, but I guess you need to protect entry of that code with online system too.


... The practicalities of primitively printing receipts to exchange - I knew getting ink jet to work might take time too, but maybe people scrawl something on a piece of paper ? don't bother ?

 

[Armageus]

The v5c isn't proof of ownership so I wouldn't use that for anything other updating the DVLA.

With a private sale, best to use a basic receipt template like: https://www.theaa.com/car-buying/buyers-sellers-contracts and both of you sign and retain a copy.

 

[tom_e]

time and dated receipt signed by you both, nothing goes anywhere until you see the money in your bank regardless of them waving around their "banking app" showing it's been sent, V5 transfer do it whenever is next possible. Sorted.

 

[jpaul]

time and dated receipt signed by you both

yes that's a good idea - not seemingly mentioned on AA template receipt

 

[dlockers]

No harm setting video up to record / stand in front of doorbell. It's a large transaction so worth being belts and bracers

 

[darkblade]

Had a legit buyer (judging by their fbmarketplace history & location) turn up at pre-arranged evening viewing, with a couple of mates, travelled 40miles.
...
They subsequently rather guilt tripped me - he had already taken out temp insurance - would you do that w/o seeing car?
.. maybe I'm paranoid

I'm somewhat amazed that he took out temp insurance, drove 40 miles and then didn't want to take it for a test drive.

 

[jpaul]

I'm somewhat amazed that he took out temp insurance, drove 40 miles and then didn't want to take it for a test drive.

yes me too - I can understand he may not have had cover for driving another car on his policy (just 3p)
less so that both his mates didn't - forgot to say they were 3 (a bit intimidating) and that mate would drive car, like another test drive I had
even though they thoroughly inspected it and were knowledgeable about car - not wanting me to drive them either.
having pre-bought insurance versus just having it ready to buy online if they needed it was surprising .. perhaps it is not too expensive <£10? quote I had for 14days temp cover 'only' £50.

 

[IC3]

I'm somewhat amazed that he took out temp insurance, drove 40 miles and then didn't want to take it for a test drive.

I buy cars without driving them, usually sit in the passenger seat and ask the owner to take me out for a spin.

At the end of the day, if you feel something is off, just go with your gut. It'll save you a headache further down the line.

 

[GhostWKD]

Online is just one option of a method to complete it, sending the V5 to DVLA has obviously always been an alternative option also (the main before the DVLA). I've also arranged insurance on cars I'm going to view with intent to buy / take away, heck my last purchase was on a Sunday night when I needed it for work the next morning

To be honest I'm amazed in this day and age that the DVLA website goes offline after a certain time and has opening hours effectively

 

[dlockers]

yes me too - I can understand he may not have had cover for driving another car on his policy (just 3p)
less so that both his mates didn't - forgot to say they were 3 (a bit intimidating) and that mate would drive car, like another test drive I had
even though they thoroughly inspected it and were knowledgeable about car - not wanting me to drive them either.
having pre-bought insurance versus just having it ready to buy online if they needed it was surprising .. perhaps it is not too expensive <£10? quote I had for 14days temp cover 'only' £50.

So has it sold or what?

 

[gc123]

I'm somewhat amazed that he took out temp insurance, drove 40 miles and then didn't want to take it for a test drive.

i once sold a fiesta on autotrader. the guy rang and enquired about it gave him all the details thinking he was coming next day (saturday)
doorbell goes at 8 pm ish and the chap is stood there friday night come to look at the car. i went outside and im not kidding his wife was there and 2 kiddies in a buggy. i looked around and couldnt see a car so queried how he got to us, he told me he got a train from nottingham and then a bus to us walked a short distance.
needless to say was a very easy sale as he needed a vehicle to get home with, excuse was he started a new job on the monday and needed a car

 

[IC3]

@jpaul What are you selling out of curiosity?

 

[jpaul]

a piece of bmw M52/6 memorabilia

..... Not yet sold 30+ replies, maybe 5 who lived within a feasible distance to genuinely buy it, and looked legit;
I subsequently thought - if the buyer had genuinely bought temporary insurance why didn't he want to test drive ? maybe he, also, didn't think of that.

 

[danlightbulb]

Yeah I've sold like this before. Signed receipt, cash in hand/bank. Hand them the new keeper tear off section, online V5 form the next day.

Once you have cash what are you worried about?

 

[jpaul]

Once you have cash what are you worried about?

what ID have you ever had to request from buyer, or, did they naturally volunteer that ?
yes, as I said, maybe I'm being paranoid but cash could be reversed if it was from a taken-over bank account, and if you had given the car to someone providing a false name/address,
doubt you'd have a wheel to stand on.

 

[Kenai]

Just sell it to Motorway/carwow/WBAC etc. if you're this worried about selling it to an individual, the stress and worry removed from your life will be more than worth whatever financial hit you take on value.