Selling vehicle with plate on
Discussion
Hi fellow ph ers.
I’ve tentatively agreed a sale on a motorbike.
Buyer is coming with cash in a few days.
If he likes the bike, he’ll pay and take it with him.
Currently it’s on a private plate which the buyer doesn’t want but I don’t want to remove it yet as if he doesn’t buy it I’ll simply put the bike on ice for winter and use again in spring.
Is there a way that I can sell to him and remove the plate at the same time ? My understanding is that we’ll have to do it on trust with the buyer paying me and taking the bike away, me then removing the plate - when the new log book comes in the post a week later, I would then ‘sell’ it to him.
Is this correct or is there a way to do this in one hit ?
Thanks guys.
Dan
I’ve tentatively agreed a sale on a motorbike.
Buyer is coming with cash in a few days.
If he likes the bike, he’ll pay and take it with him.
Currently it’s on a private plate which the buyer doesn’t want but I don’t want to remove it yet as if he doesn’t buy it I’ll simply put the bike on ice for winter and use again in spring.
Is there a way that I can sell to him and remove the plate at the same time ? My understanding is that we’ll have to do it on trust with the buyer paying me and taking the bike away, me then removing the plate - when the new log book comes in the post a week later, I would then ‘sell’ it to him.
Is this correct or is there a way to do this in one hit ?
Thanks guys.
Dan
Remove it online now and the V5C logbook (with original plate now on it) that you need to complete the sale should arrive within two weeks or so, along with the Retention Certificate.
Selling (and parting with) it still on may mean the buyer does not later honour the gentleman's agreement and you may lose the plate.
Selling (and parting with) it still on may mean the buyer does not later honour the gentleman's agreement and you may lose the plate.
- take the plate off now, before you sell it. If you choose to keep the bike, and not sell it, you can just put it back on.
- agree the sale and take a deposit, then deliver the bike to him or have him collect it once the plate has been removed. But critical you tell him this before he comes all the way to you expecting to go home with it.
- take the risk of agreeing with the buyer (possibly in writing) that he will take the plate off and transfer it back to you once his new V5C comes through, accepting the risk that you may lose it.
As a seller I would do option 1.
I have bought a car under option 2, and was fine with waiting for the seller to get the plate sorted before I collected it.
- agree the sale and take a deposit, then deliver the bike to him or have him collect it once the plate has been removed. But critical you tell him this before he comes all the way to you expecting to go home with it.
- take the risk of agreeing with the buyer (possibly in writing) that he will take the plate off and transfer it back to you once his new V5C comes through, accepting the risk that you may lose it.
As a seller I would do option 1.
I have bought a car under option 2, and was fine with waiting for the seller to get the plate sorted before I collected it.
Geertsen said:
Baldchap said:
Be aware plate transactions online are Monday to Friday, 0900-1700 only. Stupid but true.
New V5 arrives in two days in my experience and the documents to print a new plate are available immediately.
07:00 to 19:00 only, 7-days a week; but that s a good point.New V5 arrives in two days in my experience and the documents to print a new plate are available immediately.
Geertsen said:
Baldchap said:
Be aware plate transactions online are Monday to Friday, 0900-1700 only. Stupid but true.
New V5 arrives in two days in my experience and the documents to print a new plate are available immediately.
07:00 to 19:00 only, 7-days a week; but that s a good point.New V5 arrives in two days in my experience and the documents to print a new plate are available immediately.
swanseaboydan said:
Thanks all,
I reckon I ll see if I can get him to see it physically , like it , pay a deposit - then I remove the plate and when the new log book arrives he can come back and we ll complete the sale,
Thanks for all your help guys.
Dan
I'll make a prediction, I think you will either lose the sale because they can't take it away at the time or you'll let them take it and never see the plate again.I reckon I ll see if I can get him to see it physically , like it , pay a deposit - then I remove the plate and when the new log book arrives he can come back and we ll complete the sale,
Thanks for all your help guys.
Dan
Do come back and update the thread.
Would there be anything wrong with:
1. Buyer comes and wants the bike.
2. Buyer pays cash and takes the bike away
3. You immediately remove the plate online.
4. New V5C (and a V778 for the private plate) arrives in 4 or 5 days.
5. Fill out new V5C with the buyers details regarding the transfer of ownership, send to DVLA.
1. Buyer comes and wants the bike.
2. Buyer pays cash and takes the bike away
3. You immediately remove the plate online.
4. New V5C (and a V778 for the private plate) arrives in 4 or 5 days.
5. Fill out new V5C with the buyers details regarding the transfer of ownership, send to DVLA.
Geertsen said:
Would there be anything wrong with:
1. Buyer comes and wants the bike.
2. Buyer pays cash and takes the bike away
3. You immediately remove the plate online.
4. New V5C (and a V778 for the private plate) arrives in 4 or 5 days.
5. Fill out new V5C with the buyers details regarding the transfer of ownership, send to DVLA.
What if the buyer (stupidly) wants to tax and use his newly-bought bike straight away?1. Buyer comes and wants the bike.
2. Buyer pays cash and takes the bike away
3. You immediately remove the plate online.
4. New V5C (and a V778 for the private plate) arrives in 4 or 5 days.
5. Fill out new V5C with the buyers details regarding the transfer of ownership, send to DVLA.
Sebring440 said:
Geertsen said:
Would there be anything wrong with:
1. Buyer comes and wants the bike.
2. Buyer pays cash and takes the bike away
3. You immediately remove the plate online.
4. New V5C (and a V778 for the private plate) arrives in 4 or 5 days.
5. Fill out new V5C with the buyers details regarding the transfer of ownership, send to DVLA.
What if the buyer (stupidly) wants to tax and use his newly-bought bike straight away?1. Buyer comes and wants the bike.
2. Buyer pays cash and takes the bike away
3. You immediately remove the plate online.
4. New V5C (and a V778 for the private plate) arrives in 4 or 5 days.
5. Fill out new V5C with the buyers details regarding the transfer of ownership, send to DVLA.
Some people have no patience so I guess that could be a sticking point. I bought a motorcycle last month and a lot of it went on trust and patience because it was a long distance purchase. Not a particularly high value bike but definitely felt a bit ‘fingers crossed’ during the process but I had spoken with the seller and was happy enough to trust him.
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