Private Car Purchase

[SSG1000]

Saw a vehicle today, local to myself, that I would like to purchase. Condition is excellent, price is fair and has a clean vcheck.

Seller works for a car sourcing company in the same village as me, and states that the vehicle was part ex’d with his employer and he was able to take the vehicle.

However, when reviewing the V5C, it’s still in the name of the previous owner? Not sure what the situation is, or whether the V5 should be in the name of the employer (car sourcing company) but seller claims it’s to not have another registered keeper on record. Seller seems to be genuine, viewed the car at his personal address too.

Is this one to run from, or make the seller obtain a new V5 replacement which shows his address?

[KungFuPanda]

The seller is correct. If a vehicle is sold onto the trade, the V5 remains the same until it gets sold onto the next registered keeper. It just gets noted that the vehicle is in trade.

The only query would be why is the vehicle not being remarketed by the car sourcing company? Is it too old? Too high mileage? Hiding a latent defect?

[OverSteery]

The seller is a trader and pretending to be private....

Arguably, you get the protection of trade at private price, but good luck with any claim/comeback.

[griffter]

Does he claim to have used the car for personal use (including presumably taxing and insuring it)?

Or is he open about taking the opportunity to flip it for a profit?

How long has he had it? Is it taxed? (you can check online).

If he’s open about flipping it it might be ok. If not then he at least would seem to be a bit shady, whether or not the car’s ok.

[SSG1000]

Thanks all, I’ve walked away. Gentlemen claims he purchased the vehicle through his employer who received it as a part ex - but didn’t have a receipt or invoice to show he paid. The V5 was in the previous owners name, and when proved, the reason he gave was ‘to keep the number of owners down’.

Red flags all the way through.

[ferrisbueller]

Dealers allowing staff to have part-ex cars isn't unusual. However, the car is obviously part-ex'd by the previous owner and sold into the trade (hence the trader doesn't count as an additional owner) and the V5 is signed over on that basis.

It sounds like this guy has taken the car and is trying to flip it, without registering it in his name, for some extra cash. So it's been sold into trade (and still is in the trade per the V5) and he's trying to offload it as a private sale. I'm not sure why he wouldn't just put it in his name to simplify the process. I would have thought his employer would make that a condition of him having the car.

Asking him for proof of ownership, or at least the right to sell the car, is reasonable IMO. Maybe he just doesn't want you to see how much he stands to make on the deal.