MC21 1 Posted November 19, 2016 Hi all Please can someone explain in simple step by step what happens with the v5 when a private inidividual sells to a trader? Seeing some very conflicting stories online and cannot find a thread. I understand the yellow slip goes away to the DVLA. But does the trader get a fresh V5 back? Will it log the trader as an owner? What does the trader retain? What does the trader use when selling the vehicle on etc... Share this post Link to post Share on other sites
Max Branning 149 Posted November 19, 2016 Trader keeps full V5. Registered keeper and trader both sign yellow slip and registered keeper sends it off to dvla. This takes the car out of their name. When trader sells car he gets new owner to fill out V5 and posts it off or now can be done online. Share this post Link to post Share on other sites
MC21 1 Posted November 19, 2016 1 minute ago, Max Branning said: Trader keeps full V5. Registered keeper and trader both sign yellow slip and registered keeper sends it off to dvla. This takes the car out of their name. When trader sells car he gets new owner to fill out V5 and posts it off or now can be done online. Thanks for the reply Max. when the trader sells, and get the new owner to fill out the v5, who signs section 8 as the registered keeper? As the registered keeper showing on section 5 is no longer the registered keeper in the eyes of the dvla. The yellow slip doesn't ask for a name of the trader either. It simply asks for a business name. So who would sign declaration in section 8? Share this post Link to post Share on other sites
Tom 164 Posted November 19, 2016 Just do in online and keep the V5 as it is. https://www.gov.uk/sold-bought-vehicle Share this post Link to post Share on other sites
whitestone679231 113 Posted November 19, 2016 No need to sign anything anymore, do it all on DVLA website, for once a brilliant breakthrough by DVLA Share this post Link to post Share on other sites
umesh 336 Posted November 19, 2016 All on line - yellow slip , V5 New owner - cherished plates - all getting easier ! Share this post Link to post Share on other sites
Mat C 77 Posted November 19, 2016 3 hours ago, umesh said: All on line - yellow slip , V5 New owner - cherished plates - all getting easier ! Just not trade plates yet!! 1 Share this post Link to post Share on other sites
Ocsltd 133 Posted November 19, 2016 1 hour ago, Mat C said: Just not trade plates yet!! Yeah that is a bit daft isn't it..... Share this post Link to post Share on other sites
Mikey 19 Posted November 19, 2016 Yeah wrote my first cheque this year to renew my trade plates! You'd think that would have been easier to automate than the V5!!! Share this post Link to post Share on other sites
MC21 1 Posted November 19, 2016 Who signs the registered keeper on section 8? With the log book registered keeper being the previous owner. Share this post Link to post Share on other sites
Mikey 19 Posted November 19, 2016 20 minutes ago, MC21 said: Who signs the registered keeper on section 8? With the log book registered keeper being the previous owner. If you do it online no-one needs to sign section 8. You can still give the customer the green slip (section 10) though. Doing it on-line means the customer gets their new V5 much quicker. I always photocopy V5's anyway so the customer has a copy of the original for their file, and history of the car... Share this post Link to post Share on other sites
MC21 1 Posted November 19, 2016 5 minutes ago, Mikey said: If you do it online no-one needs to sign section 8. You can still give the customer the green slip (section 10) though. Doing it on-line means the customer gets their new V5 much quicker. I always photocopy V5's anyway so the customer has a copy of the original for their file, and history of the car... And if not done online? Does nobody sign the current registered keeper box as the log book has it as the previous owner? Share this post Link to post Share on other sites
SK Motors 4 Posted November 19, 2016 4 hours ago, MC21 said: And if not done online? Does nobody sign the current registered keeper box as the log book has it as the previous owner? I had this issue when I sold my first car as a trader. I phoned Dvla and they told me the customer signs as the new keeper and you leave the registered keepers part blank. As said above though, doing it online is simple and the customer gets the new V5 much quicker. Share this post Link to post Share on other sites
MC21 1 Posted November 19, 2016 Great stuff thanks for that Share this post Link to post Share on other sites
It's me 612 Posted November 20, 2016 im going to throw a sponge in i never do the online for cars bought in why because i put the onus on the seller with the intrade slip to send it back to dvla for his road tax and now in trade makes them think see why because when everything goes t+ts as it can no matter what the dvla deny you are in the clear because you have your purchase invoice and the wording on it explaining what customer needs to do now with his slip see sometimes going forward isnt always better Share this post Link to post Share on other sites
GreenGiant 287 Posted November 21, 2016 21st Century Online: had none go wrong so far. Always take screen print showing transaction ref no and details of changes. If (and a BIG if) anything goes wrong, we have all the details to prove we'd done it properly. Customers see we are working for them to make the whole transaction easier and they come back to us for their next car(s). 19th Century Postal Service: had plenty go astray resulting in numerous phone calls, letters, parking and/or speeding fine disputes; time taken we can ill-afford. Customers find out later that it could all have been done online and none of the problems they'd experienced would have happened. We never see them again. Sometimes standing still isn't always better. Share this post Link to post Share on other sites
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