Completing the Deal London
Completing the Deal
Completing the Deal
Agreeing the Price
When it comes to negotiating a deal, always make sure that you pay less than the initial asking price. Anybody selling a car, whether a dealer or a private seller, will normally set the price above what they're prepared to accept, so don't pay any more than you have to. Whatever the asking price, offer a reasonable amount less - but be realistic. Let the seller negotiate you up to a price you are both happy with. You may end up closer to their initial figure than your own, but as long as you are able to knock the price down a bit, you'll have achieved your aim.
Handing Over the Money
Once you've settled on a price, there are a few things you'll need to remember when handing over your money:
Buying Privately
Private sellers are required by law to describe the car accurately and honestly. However, if a private vendor lies about the condition of a car, although you can sue for your losses, actually getting compensation from them can be difficult, time-consuming and expensive.
When paying for the car, use a banker's draft, as paying cash offers little comeback. Any genuine seller will be happy with this method of payment.
Buying From a Dealer
As discussed in more detail in Your Rights When Buying a Used Car , dealers have a duty to supply vehicles that meet a standard expected of their age, mileage, price and condition, and to describe those cars accurately. The Sale of Goods Act 1979 protects you in cases where these conditions are not met, and expects dealers to fix any problems, provide an alternative vehicle or even refund your money.
To give yourself even more legal protection, consider paying for the car by credit card. The credit card issuer is jointly liable with the dealer if the car has any faults (this applies to any purchase between £100 and £30,000). However, not all dealers will accept credit cards, and many will charge an extra 1 to 3 % fee for doing so. Alternatively, you could pay by banker's draft. Make sure you get an invoice and sales contract showing that you have completed the deal and that the balance has been paid.
Before You Drive Away
Make sure you have everything you need, including all the keys (including a spare and possibly a master as well), any fobs to activate any security systems and the right tool to undo any locking wheel nuts.
You should then make sure that the registration certificate (V5C) is updated; the person selling the car must complete section 6 (new keeper or new name/new address details) of the certificate. Both you and the seller should then sign the declaration in section 8, and then the seller should give you the V5C/2 green section appropriately filled in. It is then their responsibility to send the rest of the form in to the DVLA as soon as the vehicle changes hands.
You should receive your registration certificate from the DVLA within two to four weeks of them receiving the application; however, you should allow six we...