should i buy without v5?

jolausolex

I know most will think the answer is obvious on the face of it but..
As far as I am aware, the only risks are that is either stolen, HP or log book loan.
I say "only", I know they are about the biggest risks you can get, but everything else seems genuine.
I turned up to view the bike at a nice detached house, in a good part of town. There were about 5 other cars on the drive and 3 motorbikes. I checked out the bike (2011 Honda CBF 125 10000 miles for £800) all seemed well.
We went into the house to complete the sale, he produced a hand written receipt for me to sign, at which point i asked for V5, after searching through drawers he produced 3 V5's for other vehicles he had, but not for the bike.
He said he buys and sells a lot of vehicles at auction (although this was his personal bike, selling as passed full test), often they don't have paperwork but i can take the hand written receipt to the post office, pay £25, fill out a form and they will be able to tax it for me and send me a new logbook.
We agreed that I would go away with the receipt to tax at post office, return tomorrow and pay, insure, ride away.
can anyone see any obvious problems with this?
He has the key, so i don't think its stolen
It's 5 years old, so can't see it would be HP
Its only worth about £800 so doubt would be loaned against V5.
Sorry for the long post, I know nothing about buying/selling vehicles. I really need a bike for commuting over christmas after mine was nicked, I can't afford to get ripped off but there isn't much else about i can afford.
Would really appreciate any advice.
Thanks

waamo

Why take any risks? Personally I wouldn't touch it even if it does seem legit.

jolausolex

Thanks for the reply.
I just want to be sure they are the only risks, which i feel in the circumstances are unlikely. I have to buy something to get to work over christmas, and there are limited options.
My judgement is clouded by distrust, after having mine stolen (am I being over cautious?) and by necessity (am i being a mug?), compounded by my complete lack of knowledge / experience in these things.
Cheers

pappa_golf

have you paid for a FULL hpi , £800 or not its a lot ,

I would ask the seller to send away for the V5 , (he pays) , you as a new owner will end up waiting

no you cannot tax it without the V5 or the tearoff bit , a post office will NOT tax it

you will wait untill the DVLA write (snail mail) to the last owner (seller) and give him time to reply sold/stolen

earlier this year I waited 5-6 weeks for a new v5 , and unable to tax or use

consumers_revenge

no real reason for him not to have the V5


does he have the last MOT?

waamo

There are plenty of 125s at that price point. Why risk it?

rich13348

An HPI should tell you if its on finance HP or logbook loan.
As above I would make him pay for a new V5. Either way you cannot tax without a V5C or the green tear-off strip for a new owner on a V62 but only if you are the current owner (or a V11 reminder but that's irrelevant here).

At any rate it will not be able to be taxed in the next few days so you wont be able to ride it legally for a few weeks.

Look for a bike with a V5C

pappa_golf

log book loans dont show up on HPI checks

marlot

https://www.gov.uk/government/news/dont-buy-a-vehicle-without-a-v5c-logbook

loskie

for a full and valid HPI (with the protection it gives) you need the details off the V5

Car_54

jolausolex wrote: »

He said he buys and sells a lot of vehicles at auction

The guy is a trader masquerading as a private seller. Why would you believe anything he tells you?