Hello, i have tried to find answers to this on Google, but so many conflicting opinions.

 

My Brother is wanting to finance a new car in his name.

 

However as a wedding gift, i have told him he can use my old car as trade in against it.

 

Are you aloud to do this? can he trade my car in for a new one? my car is owned outright, no finance outstanding or anything.

 

Thanks

Vin

Why not just transfer ownership to him?

2 minutes ago, chimaera said:

Why not just transfer ownership to him?

Yes, this was my orginal thought. However, it would take longer to complete the action, as last time i did this, it took 5 weeks for log book to come back. 

I guess I'd start by talking to the dealer and see what they think, they may have done it before?

I think i can do it by gifting him the car!, so ill make up a reciept which shows i gave him the car, which then makes him the owner, even though im the registed keeper.

 

Think it can be done, with how the new V5c works....which is not a proof of ownership.

 

 

Must say all my dealings with DVLC and transferring car details, the V5 has been back in a week to 10 days tops.

Can you not just give the dealer the V5 in your name and they will send it off to the DVLA. I shouldn't think it should affect any discounts/finance problems as they are working out a deal on finance. I don't think they will be bothered who own's the PX car providing you can prove its your to sell/trade in

Edited 15 July, 20197 yr by Auric Goldfinger

Yeah, ill go with him to the dealers and see what happens, as the registed keeper i will have to sign the V5 when its traded in, and ill be the one that sends it off. 

 

 

Make the dealer sweat rather than yourself.  Hand him/her the problem.

All sorted, all i have to do is sign and date a letter giving permission for him to use it as a trade in.

Excellent. Saves having an extra owner on the log book  

5 minutes ago, Lady Elanore said:

Excellent. Saves having an extra owner on the log book  

Yep exactly....dealer would have probs tried it on, offering me less for it ha