If you are looking at changing your vehicle, you may well be looking to get rid of your existing vehicle. When you buy from a local car dealership, the option of trading in may well be your most financially viable – not to mention the most hassle-free. However, if you are buying privately, you may wish to sell privately, too.
If you’re selling…
Here’s what you need to know.
The logbook
Before you sell your vehicle, make sure that your logbook is up to date. If your details are incorrect, you might not get a full refund on your tax.
Buyers may wish to see your logbook – it is good practice to make sure everything is in order before handing over any cash. However, make sure that they don’t see your logbook document reference number, and don’t let them take a picture of the book. Whilst it is unlikely, you need to err on the side of caution; access to logbook information will make it easy for someone to make an illegal copy your logbook, making it easier to steal and sell your vehicle.
Once you have sold the vehicle, give the green slip from the logbook to the buyer – it is their duty to make sure that it is updated with their information.
If you’re buying…
It is often easier to get a better price when buying privately. However, this is because you don’t have as much peace of mind and nor do you have a car dealer to handle the paperwork for you.
Before you buy
These days it is easy to do simple online checks before buying a second hand vehicle. At the very least, you should check that the details you have match the DVLA’s, check the vehicle’s MOT history, which will show you how well cared-for it is, as well as any areas for concern, and check whether the logbook is for a vehicle that has been reported as stolen.
After you buy
Once you have bought the vehicle, you will need to register it. If you’ve bought from a dealership, they may well handle the paperwork for you. Once the paperwork is done, you will need to make sure that you insure and tax the vehicle – you are now ready to hit the road! When dealing with anything of value – a vehicle or cash – be careful not to hand anything over until you are completely sure. Don’t let a potential buyer take a test drive without you and don’t hand over any cash until you have made the right checks. If you are in any doubt whatsoever, don’t buy or sell. For complete peace of mind, contact your local garage for their expert opinion, or buy a new to you vehicle - and trade your old one in - via your local dealership.
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