Once you've agreed a price and the buyer has the results of any car data check or car inspection he has arranged, take a non-refundable deposit of £50 or so. This safeguards your position while the buyer fixes his finances.
Prepare a 'bill of sale'. Make two copies and sign them. Get the buyer to sign when finance is sorted; give him a copy together with other documents. Take a copy of your V5 document before handing the buyer his portion.
'Bill of sale' details:
- "This vehicle is sold as is", then insert:
- Make, model, engine size and trim level/badging
- Vehicle registration number
- Date of first registration
- Vehicle Identification Number (VIN)
- Mileage (if verifiable)
- Date of sale
- Agreed price
- Your name, address and signature
- Buyer's name, address and signature
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When their cheque or bank draft has cleared, let the buyer collect the car, keys and documentation.
