Quick question, someone sells a car, they take another as part-exchange on top of cash in the hope of selling the car they took for enough funds to make up the value of the sale.

They are not a trader, so instead of going to the hassle of sending the V5 off then having to wait maybe 3 weeks before they can sell the car, they just take the logbook, so they can send it off when they sell on the car.

The person is local, isnt a dodgy back alley car seller etc, very genuine guy, does this all sound pretty above board to you?

Of course a HPI check would be done prior to purchasing this car to ensure its not stolen. Just wondering if anyone done this before and had any comeback.

Seems legit to me.

A Log Book does not necessary mean they are the keeper.

I think on the form there is an expire date.
As its in the "Previous" Owners interest to send off that forum ASAP "Speeding Tickets" etc

Basically reading you post again,
the tear off section for the previous owner has probably
been sent off in the post. So DVLA will know the car is no
longer theirs.

Not sure if its an offence as there not a trader,
but i know there is an issue with traders and the V5 Form.

If you take the car as a trader, there is a section on the V5 to send off. This means the registered keeper has a record that they no longer own the car should anything happen with it (driven through speed camera etc) and tells the DVLA that the registered keeper has passed it to a trader, and that although the details on the V5 have not yet been changed, they no longer own the car.

You say he isnt a trader Matty, but imho if he takes the car as a part-ex with the intent to sell it on to make up the difference if not make a small profit then he is classed as a trader (official or not) and therefore has to fill in and send off the trader section of the V5

Thats what I was thinking, technically and in the eyes of the law, he will be classed as a trader, but I can sort of see why he isnt doing things the trader route.

Having said that though, all he said was he has the logbook for the car, has a reciept, and will provide a receipt himself, its just the logbook isnt in his name as he is intending to change it over to the person he sells it onto asap. So he may have sent the trader bit off anyway and retained the rest or whatever it is they do?

Unless he is a trader, I suppose he wouldnt be so keyed up about these things? Like im not.

The only way I know to sell a car, is to give the buyer the green retainer and then send the rest off with the buyers details, of course because I havent sold a car as a trader (well I have for my brother in the past who is a trader but not had to do the paperwork).