Hi
I have found an ideal car for my son, but it has no service history because it was involved in probate and no paperwork has been found.
What is your advice please?
What effect on it's value and later, resale value please?
Terry.
Hi Terry,
The first question is what proof you are being given that the seller owns the car. The V5 logbook is actually not a proof of ownership, but a proof of registered keeper. You really need a receipt showing who paid it for it last, to know who the owner is.
You will also need to make sure you get a receipt. You will be provided with a template as part of our data check, which I also recommend as this car has a mysterious background.
When you come to sell, provided you own it for over a year, you will have an existing MOT, the data check report, the receipt and service records for the time you have owned it, so you can command full market value.
In terms of what you should negotiate off today, well, the answer is as much as you can. You are taking a risk that there won't be any issues over ownership or reliability.
Make an outrageous offer - at least 30% off- and then haggle using our our tips.
Good luck,
Matt