Dumb question from a none driver

Hi, Maurice, Finance company yes, bank not necessarily. If you buy a car with a bank loan and with exception of any T&C's to the contrary, you own that item and you are at liberty to sell it at anytime you like and you can let the loan run its term. If you buy an item with a Finance company you don't own the item until you have paid an agreed amount and you are not at liberty to sell it during the term of the finance, but you may get consent from the finance company to do so, but it is unlikely, however if you do get consent you may well have to pay a penalty.

Regards Nick.

No, that's patently absurd. When you buy a car and take it away ownership is legally transferred to you. It's nothing to do with V5 although a receipt is a good idea to help in any dispute...

Ownership is chiefly proven by possession and control.

You buy the car and drive it away, it's yours. You don't legally need a receipt to prove it.

Allow your son to be the keeper and ownership becomes a question of his word against yours if there is any dispute and there is no written agreement.

This seems to have caused a great deal of confusion on here.

You say you bought the car for your son....so presumably he accepted it as gift and by law he is the owner. Did you put this on paper or was it just verbal?

He has put his name as the registered keeper on the V5 which is normal whether you own the car or not.

Insurance proposal forms will ask who the actual owner is ( this could be you, your son, finance company, bank or leasing company) and who is the registered keeper. To my knowledge that's the only time you're asked for this information. But as you gave the car to your son, he is the owner and keeper. Unless there is something you haven't disclosed in your question.

Thanks for all the replies,OK i`ll go into a little more detail.

My son has got himself into quite a lot of debt, he works full time but has to commute around 20 miles each way to work.

His debt is being dealt with officially through the CAB and the conditions are that he cant have a car with an value over £1000 . The car cost me £700, its actually a Corsavan , but it was quite a good deal and the value is likely to over £1000 for used value.

His previous car wouldnt have passed the MOT so he was in a bit of a mess. Cant get to work/lose job.

I decided to buy the vehicle for him but as the owner. He is the keeper , hes already sorted insurance and tax out whilst i was present so no worries about that ,and his insurance turned out almost half of what he was previous paying for the car.

All i really need is something to prove that i bought the vehicle and not my son. Just in case someone from CAB wants proof that my son doesnt own it.

I get on well with my son so not worried about anything like disputes with him.

I have read some of the links given above and read somewhere that the seller should maybe have did some sort of transfer of ownership thing and destroyed the rest of the V5C and then the DVLA would send out a new one to either me or my son? Thoroughly confused.

So should i just ask the seller to sign a receipt or something. The V5C document has the sellers details on it.

Thanks Mark

Edited By mark smith 20 on 31/08/2019 10:27:34

Hi Mark, going back to your original question, unless you are a trader you should not have been given the V5C document. You or your son's name and address should have been filled into section 6 and should have signed and dated section 8. You should have been given section 10, which is V5C/2 with whoever's name and address was written into section 6 and signed dated in section 8 and the seller should have sent the completed V5C document back to the DVLA. If you were given just the V5C/2 section 10 with your name and address on, then you will receive a new V5C document with your name and address on it and if you do not want to be the registered keeper, you will have to fill in section 6 with your son's name and address on and both of you will have to sign and date section 8 and then you will have to send the V5C document back to the DVLA who will then send a new V5C document to your son.

Hope this helps your question.

Regards Nick.

P.S. just read your latest post and as I've said above, you should not have been given the V5C document, only section 10 V5C/2.

P.P.S. is the document seller gave you red or blue on the front or is it a green slip?

Edited By Nicholas Farr on 31/08/2019 10:50:59

Talk to CAB. Your situation will not be unique.

A receipt from the sellar isn't going to be much good, after all anyone can draw up a piece of paper stating that I, Joe Bloggs, T/A Dodgy Cars Ltd, have this day sold a van bearing registration plate ABC123 to Mark Smith 20.

The V5C is of no use in this respect - it is purely a DVLA document concerned with the Registered Keeper and contains no information on purchase or other prices.

Peter G. Shaw

Hi Nicholas, your post sounds a bit like what i was reading on the DVLA site , my son was given the red/blue two page V5C documents when he paid te cash and picked the van up . It has the details of the car and the sellers details printed in it on section 5 as the registered keeper ,thats all .

.

Mark,

There is now another word in use ... almost guaranteed to cause further confusion:

"His debt is being dealt with officially through the CAB and the conditions are that he cant have a car with an value over £1000 ."

How does CAB interpret the word "have" ?

But, whatever the answer to that question: I think the first thing you need is a receipt from the seller, confirming that the van was sold to you for £700

MichaelG.

My son is due a telephone interview on the 4th Sep with the relevant CAB department. So could be discussed then.

Michael ,i meant OWN not have. As in an asset that you can sell that you own.

Edited By mark smith 20 on 31/08/2019 11:01:30

To confuse me further i just found a seperate part 10 of a V5C in the wallet we were given saying to be kept by the new registered keeper but it has not been filled in and is from a different V5C document???

Thanks for the clarification, Mark.

My advice stands

MichaelG.

I bought the car through facebook locally , i have all the conversation and it says sold ,is that any kind of proof??

Hi Mark, you need to go back to the seller and get section 6 filled in with who's ever name you want on the V5C and both the seller and whoever is going to be the new keeper has to sign and date section 8 and the seller must send it back to the DVLA, this is the current regulations and prosecutions can be in line for those who do not comply. Hope you weren't given any "Road Tax" with it as well, because that is illegal as well, but you should have been given any current MOT documents and the green section 10 which should also have the new keepers name and address filled in. Yes do try and get a receipt for it. If the seller refuses to fill in section 6 and sign section 8 and return it to the DVLA, then you may have to consider reporting it to the authorities and inform the insurance company that your son has insured it with and I would be inclined to keep it off any public place until you get the matter sorted.

Regards Nick.

P. S. yes the red with a blue bars is the correct V5C

Edited By Nicholas Farr on 31/08/2019 11:30:00

Hi Mark, keep and back up your conversations, as it may be your only defence, even if it is not proof, if the situation goes sour. I don't want to be a "Party Pooper" but they don't put that yellow box with the magnifying  glass and the words "Buyer Beware" on the front of the V5C for no reason. Not suggesting that the seller is fraudulent but car crime is a serious matter.

Regards Nick.

Edited By Nicholas Farr on 31/08/2019 11:38:28

Getting the seller to sign a receipt showing what you paid for the vehicle and another bit of paper signed by your son agreeing some conditions should be enough I expect.

You could charge your son a notional fee for using or buying it (£10 a month over 7 years?). Keep a record of payments to create evidence it's not a gift. (What's done with the modest payments received is your business, the money might be used to gift a needy relative some groceries, or petrol!)

Debt management can be rough because the system has to deal with outright crooks, the sort of chap who cons pensioners, goes bust, has everything in his wife's name and is seen driving a new BMW leased from a shell company registered to himself! Seems the problem here is a missing receipt, not an abuse of the system. I would hope there wouldn't be much fuss over a second-hand £700 van when the allowance is £1000 and it's owned by dad.

Looking at the problem from the other side, it would be very difficult for anyone to prove your son did own the van, especially when you're available to say it's yours, and can identify who you bought it from! Best to have some paperwork though; it's far more convincing in a dispute than unreliable witnesses.

Dave

Edited By SillyOldDuffer on 31/08/2019 11:32:12

[This posting has been removed]

I would have thought the value of the van in your ownership would be basic trade in and not what you paid for it. In other words the value of the van on the market today in the motor traders value book. Including the fact it now has an extra owner against it and any extra wear and tear to the paint and interior it may have.

Your son will have no visible money trail for the van, though you will via your bank statement.

You may need to show where the money came from via your bank statement If asked by whoever he owes money to, CAB is probably just trying to keep you below the legal threshold to prevent seizure of the asset.

Seller say he will provide a receipt in my name and ive asked him to simply sign part 8 of the V5C as ive already filled in part 6 in my sons name. Then i can return it to the DVLA and they should send him (my son) a new one .Is that right????

We`ll keep part 10 only.

Thanks Marc

Edited By mark smith 20 on 31/08/2019 11:48:43

Hi Mark, the seller must inform the DVLA when it is sold on or even given away, and it can be done immediately online. You should not have that V5C and it is not up to you or your son to inform the DVLA about the sale and the DVLA will send the new V5C to the new keeper not to the seller and as I've said, you will not get any current Road Tax with the sale, whoever is the new keeper will have to apply for a current Road Tax and you will have a job getting it until the DVLA has been informed of the transfer to the new keeper. This is how the regulations have been set up in recent years to help stop car frauds. Be aware that whoever owns or whoever is the registered keeper of the car, the person driving a car without tax or insurance will be committing a motoring offence and will be liable for the fines and any points on their licence for such an offence.

Regards Nick.

Edited By Nicholas Farr on 31/08/2019 12:16:44