A long-standing friend has parents who live mostly in the USA, but keep a house and car in the UK. They want to sell the car and have asked for my help. They've owned it from new, it's been garaged all its life, and I remember it when it was new in 1990.
A bright red Nissan 300ZX, now with circa 50,000 on the clock. I'm thinking an auction would be the best place for it. Would a letter from the owners and my physical possession of the V5 and other car documents suffice? I think if I was I buyer I would want some further reassurance that the vendor had the right to sell, but I'm not sure what?
Any ideas?
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>>I'm thinking an auction would be the best place for it.
Local classic car club might be interested.
I would have thought a specialist auction would be best as if it doesn't get the right interest at the likes of BCA it could go for peanuts (subject to reserve).
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You could google classic car auctions and speak to a few of the resulting finds. I suspect you may have a problem, as you're not the owner and don't reside at the address on the V5.
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Why doesn't he sell it to you for a £1 on the understanding when you sell he will receive the money - all of the paperwork will be in your name then.
Would one extra owner make a massive impact on the value?
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Or indeed simply sell it it on behalf of the owner but in the owner’s name. If he has a house in the U.K. he surely has a U.K. bank account so they should be no problem.
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>> Why doesn't he sell it to you for a £1 on the understanding when you
>> sell he will receive the money - all of the paperwork will be in your
>> name then.
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>> Would one extra owner make a massive impact on the value?
>>
Yes, that would be one way.
Alternatively I think I could find out when and for how long they will be in the UK to try and coincide a sale acting as their agent, so that when the buyer collects the car it will be from the actual owners at the V5 address.
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As long as the buyer is making payment to the bank account of the owner and the bank account is in the same name as that shown on on the log book and the car is collected form the registration address I cant see that there would be any problem.
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A signed letter by the owner appointing you as their agent with a copy of their passport photo page would satisfy me as a potential buyer. As they are in the US having it counter-signed by a notary public would be easy to arrange.
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All of that can be faked, and its hard to prove its autheticity.
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Ask the owners to contact the support folks at carandclassic.com for advice. They probably come across this situation quite a lot.
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" Make sure you have their permission to do this first"
No mention of any formal supporting document. Although they do ask that the 'pwner' is present during any telephone conversation.
I see massive holes in that .
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>> I see massive holes in that .
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Me too!
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It’s not exactly uncommon to sell a car on behalf of someone else. Children do it on behalf of aging parents, husbands do it fo their wives, parents do it for their children etc.
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Yes it must happen countless times every day without letters from solicitors, having people on the end of the phone etc.
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