has or /ip exempted car then asked v5

scottishsodapop

Hi guys wifes car has been exempted but ip wants v5 says will keep tillbankruptcy over
is this normal procedure
ps we are in scotland

scottishsodapop

hi just bumping my post any one heard of this before

xocbc

I've not heard of this before, I'd suggest asking why he/she wants it

philnicandamy

Have you received confirmation of the exemption in writing?

blind-as-a-bat_2

Have to admit, while i only know the english system, this is the first time any scotish posters have posted such a request

BUT as the V5 only shows the registered keeper, under the english sytem that would be the OR until they declred no intrest, so would make sense, if they had not exempted it

Sorry but can not see why they should need to do this, and it also may cause issues with insurers as some will only insure the registered keeper:rolleyes:

I would question why, and if your IP has a clue wht they are talking about.

as V5 has nothing to do with ownership, the request makes no sence

scottishsodapop

lol the guy who dealing with this has sayed car exempt only worth apporx £500
but he doesnt need to put in writing
like wise our outgoings show a surplus of £98 but wants an ipa of £200
we thought bankruptcy would make life a lil less stressfull but isnt the case at the moment

Antoine_Roquentin

Some IP's will hold V5's for vehicles during Trust Deeds but I can't see why any would do so if the car is exempt as it's value is below £1000.

blind-as-a-bat_2

Antoine_Roquentin wrote: »

Some IP's will hold V5's for vehicles during Trust Deeds but I can't see why any would do so if the car is exempt as it's value is below £1000.

I simply dont see why they think they need too at all, it does not give them any power over the property, or the person on the trust deed, or protect them in any way, as it means nothing.

A V5 is only there so the DVLA knows who to send the fine too if the car is not kept taxed or sorn, and so the registered keeper can be traced if needs be after an accident etc so the driver can be identified

peachyprice

Scottish, the only reason I can think, as I said in your other post, is to prevent you from selling the car and pocketing the cash. However, once a car is exempt it's yours to do with as you wish, even sell it.

blind-as-a-bat_2

peachyprice wrote: »

Scottish, the only reason I can think, as I said in your other post, is to prevent you from selling the car and pocketing the cash. However, once a car is exempt it's yours to do with as you wish, even sell it.

The registered owner can get a replacemant V5 at any time, so unless the IP re registers it in there name, that theory does not work

As every change of owner lowers the value of a vehicle, i cant see the IP registering it in there name, it also leaves them liable for any fines if they do, so they would be crazy too

peachyprice

I think Scottish's IP is just being awkward and throwing his weight around TBH. There is no logical reason for keeping it.