Part-time motor trader - what to do with the V5C?

Honest John Back Room » Motoring discussion
What is life like with your car? Let us know and win £500 in John Lewis vouchers | No thanks
View Threaded
Tue 11 Mar 2008 12:47
Part-time motor trader - what to do with the V5C? - beninstp
I recently decided to try my hand at a bit of buying and selling and got a trade insurance policy for part-time traders. The first car I bought was an MGB which I'm now ready to sell. When I bought it, I asked the seller to fill in the section 9 part of the V5C (Notification of sale/transfer to the Motor trade) and send it off, and give me the rest of the log book.

I've now realised that I can't tax the vehicle as the log book isn't in my name, and am also wondering how I can now sell the car i.e. where does the new owner sign and do I have to sign it somwhere? I'm starting to think that I may have been a bit foolish in not treating it as a private sale. Any advice would be very gratefully received.

Many thanks

Ben
Reply | Report as offensive | Link
Tue 11 Mar 2008 15:44
Part-time motor trader - what to do with the V5C? - stackman
You won't be able to tax it without registering it in your name. This is why dealers have Trade Plates.

When you come to sell it the new owner will fill in the appropriate section of the V5 as is he had bought it from the original owner, then can take this to the post office along with the MOT and his insurance. The post office will issue the VED disk and send off the V5 to Swansea.

(That's how it worked when I was involved in the motor trade 2-3 years ago.)
Reply | Report as offensive | Link
Tue 11 Mar 2008 16:10
Part-time motor trader - what to do with the V5C? - rtj70
And until insured and taxed it cannot be driven without the trade plates I guess.
Reply | Report as offensive | Link
Tue 11 Mar 2008 16:33
Part-time motor trader - what to do with the V5C? - beninstp
Many thanks to you both.

Stackman, so the new keeper will fill in his details and sign as such, and I won't have to fill in or sign anything? Or will I have to sign as the "registered keeper"?

Thanks again

Ben
Reply | Report as offensive | Link
Wed 12 Mar 2008 10:31
Part-time motor trader - what to do with the V5C? - ato
I bought my Frontera two years ago from a trader on ebay and went to pick it up from him. He'd had it MOT'd for me and said he could tax it for me if I paid for the tax. We took it for a test drive and called in to the local PO and taxed it using his motor-traders policy with the V5 in the original owners name without any problems. I, like you, now have a part-time motor-traders policy and cannot believe the flexibility it gives. I've checked on ASKMID and all my cars are showing as insured. I also tax them at the local PO using a photocopy of the policy as that is what I keep in each car for simplicity. Our three personal cars, two fronteras and one barchetta were costing £1010, motor-traders policy is £617 with the only short fall being no windscreen cover which has just cost me £185 for one of my stock fronteras
Reply | Report as offensive | Link
Wed 12 Mar 2008 12:22
Part-time motor trader - what to do with the V5C? - zm
You can tax a car off the 'green slip' part of the log book, whether you are the registered keeper or not. I do this all the time (2 this last few days).
Reply | Report as offensive | Link
Wed 29 Sep 2010 11:37
Part-time motor trader - what to do with the V5C? - Gazellio

Hi,

Hope you can help.

I am a new full time trader and need to tax a stock car using the V5C/2 (green slip) at the local post office using my Trader Insurance & MOT but I am unsure of:

1. Do I need to complete a V10?

2. Do I need to fill in the V5C/2 ?

3. If yes will this effect ownership status of car?

4. Will they return the V5C/2 to me or keep it?

As you have regular experience you seem to be the man to ask!

Many thanks

Reply | Report as offensive | Link
Wed 12 Mar 2008 12:30
Part-time motor trader - what to do with the V5C? - A2B
Hi

Does this mean that for £600 you and say your wife can drive any cars you own anywhere whether is for private use or not?


Seems a good deal... I guess it's not fully comp though.
Reply | Report as offensive | Link
Wed 12 Mar 2008 13:07
Part-time motor trader - what to do with the V5C? - ato
Well there are restrictions. My upper value limit is £8500 trade price ( haven't seen a frontera approach that for a long time ). All cars, both personally owned ( up to four ) and stock cars are fully comp without windscreen cover. They are covered fully comp to be test driven by customers when you are present in the vehicle, I assume that only applies to stock cars but maybe not as I could be selling my own car. You have to inform the insurance company when your stock changes so they can update the insurance database. I assume I'll one day be pulled over after passing an ANPR that's why I keep a photocopy of the cert in all my cars.
Reply | Report as offensive | Link
Wed 12 Mar 2008 13:45
Part-time motor trader - what to do with the V5C? - pd
The difference is that a basic trade policy is usually a road risks policy. Theft or damage to vehicles within a certain radius of any motor trade premises is not normally covered (although if your premises and home is different it can cover them at home being used for private use).

There is also usually a maximum indemnity (say, £10,000) in any one year, trade price only and no extras like windscreen, loan cars etc.

Also, if you have a trade policy and are most definately not trading in any cars it could be argued you are not disclosing material facts to the insurer.
Reply | Report as offensive | Link

We give you the low down on how to save on insurance, little-known tricks and tips, what insurance groups mean and how to use insurance aggregators to beat insurers.

Insurance group finder and how to save on insurance