OK so you’ve sold your vehicle, the buyer has just handed over the payment, so what next? Follow this as a guide and you shouldn’t go far wrong. Firstly make sure you write out a receipt with the date and time. Your name, address and telephone number need to be included as do the buyers. Put down on the receipt the model, the mileage, registration and the chassis number of the car being sold. Cut corners and you risk problems later on if there is an issue.
Write the price of the car that you have just sold and how they paid. If it was just a deposit make a note of the agreed stages and amounts that are to be paid. Put that it is being sold as seen, and that you are not going to be responsible for any future repairs that need doing after the sale.
Make sure you have proof of ownership of the vehicle and it is not part of any HP agreement. If it is, it isn’t yours to sell! There should always be two copies of the receipt. The DVLA form called a V5C needs completing, the buyer must sign the V5C. You then give the top part to the buyer. The rest of the form is then sent off to the DVLA.