Car collected tomorrow, V5 query

continualdiamond

My car is being collected tomorrow as i have voluntarily ended my agreement. When it is collected what part of the V5 do i fill in?

No doubt they will know this tomorrow and i wish id asked them on the phone when they rang this afternoon. But im just unsure whether its motor trade or personal sale.

I have no idea what finance companies do with vehicles when ended like this, as in keep them first off and then take them to a motor trade or whether they go straight to a motor trade etc.

I will be taking my tax disc off and reclaiming 3 mths back. Anything else i need to do? It will just be me home you see as OH will be at work, i myself should be at work but my school is closed due to the weather, so i just want to make sure i do everything right.

JPS29

You will fill in the finance company details (or its agent if they have bought from the finance company) in the yellow box in the top of the 2nd page.

Both sign this and you send this to DVLA. Also sign the bottom of the left hand side page and write the date in BIG CAPITALS so they cant be altered.

HTH

continualdiamond

I think i have answered my own question now having read the back of the V5 properly :rotfl:

Under motor trade part on the back, it says:

"A finance company with a financial interest in the vehicle"

So guess thats the bit they fill in, after all the vehicle does belong to them, so therefore a financial interest.

continualdiamond

From re reading and re reading it over and over so it sinks in. I only send the yellow section back to the DVLA (9) and the finance company keeps the rest of the document? (1-8, 10 and 11)

As with a private sale you send back sections 1-8 which is all on the 1st page and then the new keeper keeps section 10.

continualdiamond

InTheBrownStuff wrote: »

You will fill in the finance company details (or its agent if they have bought from the finance company) in the yellow box in the top of the 2nd page.

Both sign this and you send this to DVLA. Also sign the bottom of the left hand side page and write the date in BIG CAPITALS so they cant be altered.

HTH

Don't think i sign the bottom of the left hand side page (section 8) as the new keeper part mentions 'i declare that this vehicle was sold or transfered to me on the date shown in section 6 etc etc'. But i do not fill in section 6.

JPS29

Yes, Just the yellow section you send off.

Re not signing it... Up to you really. I know I would definitely fill it in as your name is still on that piece of paper and you are declariong the date you sold it. It needs to be the registered keeper that signs it.Says nothing about a trader signing it in your place

continualdiamond

Oh right i see, i thought you mean't my OH signs it in the registered keeper part and then the trader signs in in the new keeper part.

I see what you mean about signing it, as they get the whole of that page so better to have a signature and date on it.

Thanks for the help by the way, :beer: