Can I part exchange my parents car when buying a car?

Rich1234a

Hi,

Wonder if anyone could advise me please?

I plan to buy a car about 12 months old and my parents will have my existing car. My question is, could I trade in their car for my purchase? Would I have to put their car in my name first? And is there a minimum period that the car has to be in my name for prior to trading it in? (I actually owned their car for about 5 years prior to them having it).

Many thanks in advance,
Richard

Aylesbury_Duck

I don't think you could trade in someone else's car, no. It needs to belong to you before you can "sell" it to the dealer. I don't think there's a need for a minimum timeframe.

SHAFT

Nothing stopping you from trading it in, if the owner allows it. You may need the registered keeper not attend the garage with you. How much would another keeper on the V5 devalue the car?

fb1969

I did this some years ago with my dad, I px'd his car when buying a newer one and he had my car. Other than him coming along to do the deal we had no issues at all, it was at a small main dealer.

AdrianC

Talk to the dealer. It's only about what they need to see/do to satisfy themselves that the car they're taking in isn't nicked.

chrisw

No problem at all.

As is often pointed out, the registered keeper isn't necessarily the owner anyway.

The dealer just has to be satisfied that you have authority to sell it, if the surnames match that's often sufficient in my experience.

Joe_Horner

Really depends on whether or not they know you're doing it

(yes, I know your post explains that but the title amused me on the home page :P )

knightstyle

We did exactly this for our DD when our old second car was near the end of its life. Got £2k for a £500 car.

Aylesbury_Duck

knightstyle wrote: »

We did exactly this for our DD when our old second car was near the end of its life. Got £2k for a £500 car.

Which means the new one was overpriced by £1500 for just such circumstances.