Missing V5

JackyO

Hi,
I appreciate this may have been 'done to death' on various forums but I would really like some help with this particular case.

I have put down a £50 deposit on a car from a private seller. The only documentation the car had was a 2-week old MOT - seller had lost the V5/logbook. I have a 'sold as seen' receipt and seller has now taxed the car for 6 months.

I have requested that the seller hold the car until the V5 arrives - seller is not too pleased but has agreed.

Two questions:
1. Anyone know how long it takes for V5 to arrive? Wildly different estimates on the web.
2. If I have a clear HPI and a receipt, is a V5 necessary? (Seller was originally going to forward this to me).

Obviously the law is there for a reason, but waiting for a month or longer seems a bit much.

Thanks for any help

[Deleted User]

Watch out for log book loans.

They won't show up on HPI checks, and would explain the missing logbook.

I wouldn't touch it, it's far too risky

Lots of people take logbook loans, apply for duplicate logbooks and then sell, so your seller offering to get a logbook still doesn't mean it's clear

s_b

log book loans is a good one
if car is a banger then by the fact the seller can tax presumably at local dvla suggests he has title even if not a good title:D
if his face fits i would take the car:)

JackyO

So there's no way I can check if this has loans against it if the original V5 isn't present?

The car is worth £700 by the way - does this mean that I could be liable for a loan up to this amount?

If a 'logbook loan' is what I think it is - a loan attached to a car, rather than a person, then it is absolutely nuts!

JackyO

Also, s b, I didn't really get the your reference to taxing the car - I guess it is a 'banger' (not to me though lol) but what does that have to do with being able to tax it or not?

Why does the fact that the seller can tax it make it more legit?

Thanks

s_b

i dont think log book loan type places are interested in this end of the market
thats why i said if it is in this area i would pay and take
remember whilst in your care but in sellers name hes liable for all fines so its in his interest to advice dvla soonest loggy book comes

s_b

JackyO wrote: »

Also, s b, I didn't really get the your reference to taxing the car - I guess it is a 'banger' (not to me though lol) but what does that have to do with being able to tax it or not?

Why does the fact that the seller can tax it make it more legit?

Thanks

im not trying to deregate you and apologies if its seems as such
he must have been able to tax without the v5 so in dvla eyes he is still registered keeper see:)

JackyO

OK thanks. So, as I understand it when he got the tax done at the PO they checked with the DVLA that he was the registered keeper.

So if a logbook loan is on it (unlikely at this price range, it seems...) then it basically means bailiffs are (or will be, once payments to them stop) looking for the car?

Seeing as I can't avoid this scenario, now that the original V5 is lost, I may as well pick the car up - as a duplicate V5 won't prove there is no loan against it.

Or walk away, of course.

Thanks for your help

forgotmyname

If its cheap enough to take the risk then go for it.

Dont forget a new logbook will cost you.

Seller may not be happy keeping the car for another month as the debt collectors maybe coming to take it before then.

If you cant afford to lose the car/money they maybe look elsewhere.