Bill of Sale?

Big Mouth

Hi,

If I was to agree to buy a car from someone and have them sign a bill of sale whilst allowing them to drive for an extra week will I have myself covered if they try to pull a fast one?

I know the guy Im buying from trust him and he is desperate for cash (needs it by tomorrow and its legit reason that im aware of) so I have agreed a good price off him and will pay him tomorrow, although I want him to sign a bill of sale and give me the logbook while he uses the car for the next few days.

Would he have a leg to stand on if I went to claim the car from him?

I know you'll all say, dont to it that way etc but imagine there is no other way of doing the deal PLEASE......would a bill of sale legally stand up for me? Thanks

-Chris-

I know you asked that we not say "don't do it", but for the love of God, DON'T DO IT!!

johnos1984

OP you know the friend better than us, get everything signed over if you go ahead and maybe get a spare key for the car and agree everything in writing but as Chris puts it FOR THE LOVE OF GOD DON'T DO IT

If someone is desperate for money they are liable to be desperate enough to do other things and may not be thinking straight.

Why this urge for quick cash. Bear in mind he may of sold it to someone else as well

Big Mouth

I won't be doing it under those conditions but I do wonder is a bill of sale a legally binding agreement???

johnos1984

Big Mouth wrote: »

I won't be doing it under those conditions but I do wonder is a bill of sale a legally binding agreement???

Once it is signed over into your name and you send away the reg document it becomes your car AFAIK.

Keep a copy of the signed registration booklet

Big Mouth

Never heard of registration doc or reg booklet?

Would that be logbook? Sorry to keep firing questions at you but could I draw up a bill of sale myself or would I need to see a solicitor?

johnos1984

Big Mouth wrote: »

Never heard of registration doc or reg booklet?

Would that be logbook? Sorry to keep firing questions at you but could I draw up a bill of sale myself or would I need to see a solicitor?

The logbook yes, sorry half asleep here.

You could create a contract between yourselves once both parties sign and date it and get a copy however I'm not sure how strong it would be in courts if this goes pear shaped and I refer you back to Chris's statement at this point as would any solicitor worth his salt.

-Chris-

Bill of sale or not, imagine this situation:

You pay full price for car because he's hard up for cash
He drives car for a week
During that week someone in a carpark reverses into it and causes €500 of damage and p1sses off without leaving a note

Now:
-he doesn't have the money to get it immediately repaired
-you may not put the same value on a repaired car as you do on an "original" car, but ---you have no mechanism to adjust the price you pay and you have no negotiation strength
-there's the possibility you'll be driving your new car around for a few weeks with damage on it until he gets the money together
-he may never get the money together, leaving you with a damaged car
-if you decide you don't want a damaged/repaired car you won't be able to get a refund as he'll have spent the money already


That doesn't seem worth it to me, and it seems like you're doing him a VEEEERY big favour by paying him early.

For me, in this situation, bills of sale or log books would be the least of my concern.

dirtydiesel

I prefer not to buy or sell to friends or family for various reasons, you seem like a decent guy helping out a friend in need, have to agree with Chris where he points out the issue of the car ben involved in an accident!

On a legal point would his insurance still be valid once the car is signed over to you? if he has 3rd party cover to drive other vehicles then maybe he would be covered.

IMO if you decide to go ahead ,then copy all paperwork including the log book and post that book to Shannon straight away.