Just bought a new (to me) car and was wondering what time frame the exchange of ownership had to happen in. The car is off the road at the moment, still has valid tax, but is not insured. Would I need a current insurance certificate to transfer ownership?. If not I will do it now, but if they need proof of insurance it may be a couple weeks before it is covered.
I wanted to wait until I sold my current car before transferring the insurance as I want the cover on the car I am selling for test drives etc. Not driving the new car would also be incentive to get rid of the old one quickly, rather than hanging on for weeks and weeks hoping for that little bit extra.
Is there anything illegal about what I am proposing?. The new car is parked on a private driveway, tax is valid until end of December.
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You don't need insurance to change ownership, as you wont be using it for now. In a sense not telling the DVLA of ownership change is illegal as it says on the V5 IIRC you could be fined up to £1000. Best to change the V5 over now, that way the previous owner will get the letter telling them they are no longer the owner of that car.
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You have nothing to fear, just send off the form, insure it when you want to use it, all will be well.
P.S. Pedantry maybe - it's not ownership, it's keeper.
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But of course in this case it's ownership.
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I sure hope its ownership as there is now a gaping chasm in my bank account ! 8-)
Thanks for the replies, will be ok to just fill out the V5 (new style) and post it, or would it be better to go to a local DVLA office. Last car I bought, I filled out a form at post office when I was buying tax for it, but as this one already has tax, then will I still need a trip to the PO?.
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sure hope its ownership
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afaik, dvla do not record ownership on v5, they only record keeper.
you prove your ownership via your payment and/or receipt/invoice papers.
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Strictly speaking the seller should have already filled out and signed the V5 and sent it away. You are saying you have the complete V5 in your posession? I hope they atleast signed and dated it. They are taking a risk not sending it off because you could be someone dishonest and they (seller) could get in trouble for this.
Anyway, just fill out the relevant name and address of new keeper tear it off and post to DVLA 2nd class stamp, and all will be well. Assuming they signed it.
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Just bought a new (to me) car
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and is it a bmw 320d as you were seeking ?
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Yes, I have the complete V5 in my possesion, however the seller did sign and date it. I can already see that it would be very easy for me to alter the date they signed, go out and rack up a mountain of parking/speeding fines then claim I only took position on X date. Luckily for the seller I am not that sort of person. The transfer will be in the post tomorrow.
No I didn't get a 320d, I got a 2002 330d Sport 8-) and am very pleased with my decision to go that extra bit (££ wise) to get it.
Thanks to Jonathan for all his help with auction prices and valuations. I didn't buy it from an auction, but his insight on auction valuations helped me decide that the car was priced right and the risk of an auction purchase wasn't worth the small savings (if any).
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Isn't it the case that the vendor sending the LH half of the V5c triggers a new V5c being sent to the buyer? The buyer keeps the V5c/2, which shows he is the new keeper and allows him to tax the car if necessary. Big risk for the vendor not sending the V5c off himself! You only need to send off the V5c/2 if the whole V5 was not present - and in this case you have to fill in another form (and pay a fee sometimes) to get a new V5c.
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RichardW
Is it illogical? It must be Citroen....
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I have the whole V5 in my possesion so its easy enough to send off the transfer bit as if I was the seller. The seller did sign and date so its not as if I am forging the seller's signature, I am essentially posting the bit they should have posted themselves. I can't see anywhere on the V5 where it states that I need to fill in a seperate form or pay a fee, so hopefully sending off the V5 will be enough.
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