Complete your V5 Log Book on sale day or you’ll pay the price
Planning to sell your car privately?
Have you part exchanged your old car into a dealer?
About to buy a new car?
It’s hugely important for you to notify the DVLA once you sell or transfer your old car. But you might be surprised to hear that droves of people simply don’t do it.
Other car owners send their cars V5 off to the DVLA but leave it weeks and sometimes months before doing it.
If you don’t notify the DVLA that you’ve sold your car and you don’t give the “new keepers details” you’re likely to get fined.
Case in point:
I leased a new car from a dealers and part exchanged a Toyota Avensis as part of the deal. I completed the Yellow Slip on the right hand side of the log book with the car dealers details (notification of sale or transfer to a motor dealer – section 9) but forgot to send the Yellow Slip.
Five months later I received a letter from the camera enforcement team stating that a Toyota Avensis registered in my name had been seen driving in Worcestershire with no registered insurance.
I exclaimed that I had sold the car to a new car dealers months before and was no longer in possession of the car.
Several weeks had passed and I thought the case was closed.
The DVLA fined me £100 because I didn’t notify them that I was no longer the owner/keeper of the vehicle.
Remember that if you part exchange your old car into a dealers and don’t notify the DVLA (using the Yellow Slip) you are leaving yourself in a vulnerable position.
When the dealers sell your part exchange you have no way of knowing if they will complete the log books new keepers details. If they don’t complete them and send off the docs to DVLA you will find yourself liable for your old cars road conduct.
That means speeding fines, points, bus lane enforcement, parking fines and much, much more.
Even if you escape liability it will cost you time if not money.
The Used Car Guys tip: Completing car documentation is a part of the used car sale and is almost as important as the financial transaction itself. If you’re about to buy or sell a car make sure the documentation is your priority, even if the other party doesn’t.