Really cheap car! - Buying/selling as a trader - Starman999

I'm presently without wheels so will soon be buying a 'cheap as chips' car as a stop gap, just to get me back on the road, get me through Christmas and keep me mobile until I get a bit of time in January to look around at available cars.

I'm wondering if there's some legal way I can avoid putting my name on the V5 of this 'stop gap car'. It seems a shame to add an extra owner for the sake of 6 weeks ownership. And, of course, my selling the car almost immediately after buying it will look suspicious to potential buyers and could reduce the selling price!

So to this end, could I just buy a car as a trader (even though I'm not one!)? Presumably if I just transfer my present car insurance over to whatever car I buy that will be fine and dandy? And how would the tax work? Any other potential issues?

I've only ever bought and sold cars privately. I'd appreciate input from anyone who knows about buying/selling as a trader. Thanks!

Really cheap car! - Buying/selling as a trader - badbusdriver

If you are buying a really cheap car, you having your name in the reg document for 6 weeks is not going to make any difference to the value of it. Chances are that it will already have had many many owners, so adding one more isn't going to be an issue.

Really cheap car! - Buying/selling as a trader - madf

I fyou are buying and selling as a trader, you will have to issue some warranty - even if only a week = and ensure cars you sell are safe and roadworthy...

Really cheap car! - Buying/selling as a trader - Manatee

It could cause you more grief than you want if you declare yourself a trader. Don't bother.

Really cheap car! - Buying/selling as a trader - SLO76
Legally no, you can’t simply fill in the V5 as a trader if it’s your own personal motor. I get the thinking that selling after such short term ownership will spook buyers but on a cheap car like this it’ll make next to no difference and honesty as to why you bought it and are selling will intercept much of their doubt. Flogging with the trade section missing will identify you as a trader to buyers who may then be spooked and/or liable to come back at you for every fault which you’d be legally responsible for.
Really cheap car! - Buying/selling as a trader - Ian D
As stated above by badbusdriver, an extra owner on a cheap car makes no difference. In my experience of selling my my own cars privately (which is what I always do, rather than part ex) 90% of private buyers barely look at the V5. If they ask just say you needed a cheap runabout and now you don't need it as you are buying something better, can't see it being an issue.

Edited by Ian D on 08/12/2017 at 11:14

Really cheap car! - Buying/selling as a trader - Andrew-T

As you will need to tax and insure, etc.etc, it might be simpler just to get a month's rental as cheap as poss ?

Really cheap car! - Buying/selling as a trader - Gibbo_Wirral

It all depends on the buyer and the price of a car. Unless it was a £200 close-to-the-scrapper banger I would avoid any car where the last owner has had it just a few weeks.

Really cheap car! - Buying/selling as a trader - Starman999

Many thanks for replies. Ok I won't bother with the trader idea!! And now to find that cheap car...

Really cheap car! - Buying/selling as a trader - pd

It really makes no difference at this end of the market. Most buyers do not ask or look at the V5 anyway.

Just be honest as to why you've had it a short time.

Loads of cars seem to be owned for short periods these days - often I find they're stop gaps between lease or PCP cars or similar.

Really cheap car! - Buying/selling as a trader - SLO76

Many thanks for replies. Ok I won't bother with the trader idea!! And now to find that cheap car...

Let us know how you get on. Big fan of bangernomics me.
Really cheap car! - Buying/selling as a trader - Terry W

If it is really only 6-8 weeks and you only need something basic you may find a medium term hire if worth doing.

The insuarance companies pay around £10-12 a day for a basic Astra or Focus. Probably a bit less for Corsa or Fiesta size. Instead of buying cheap only to find you have actually bought a pile of junk two weeks later, you get an insured, taxed, almost new car with a replacement on tap if any problems.

Worth a thought!!