Has anyone had to sell cars for family members

[metcars 397]

I'm in the weird position of selling a couple of cars for my ex wife and her husband. They used the cars as part of their business and are upgrading/downgrading. The cars are taxed, insured, MOT'd and registered to them as you'd expect. So, I just throw a bucket of water of them and take some pics! But, I have to put them on my trade insurance, I assume that their private car insurance will have to be informed that cover is no longer required on those vehicles. Will I then be 'all good to go' or am I missing something?

[Tom 164]

Well the tax wont go with the cars for starters? Are you selling them under your company name? SOGA would apply. 

[janeleonard 0]

Cars sold to family members have both good as well as bad with them. Either you sell for the perfect price else get paid in months of installments.

[Wheelerdealer1 91]

Never do business with family 😉

[Sensei 12]

@wheelerdealer1 

 

101% couldnt agree with you more my friend ... never mix business with family it can open more trouble then you ever need 

[Wheelerdealer1 91]

Bad enough selling a car to my wife 😭

[metcars 397]

The cars are going to be 'loaned' to me to persue a sale. I am not buying the cars I just have 'responsibility' for them, acting as an agent I guess. So, how do I stand. I assume that they will 'have' to cancel their insurance when I put them on my trade policy. The cars are currently taxed and will remain so until new owners are found, obviously if the cars dont sell to their satisfaction they will go back home again and be used. How does that sound?