Inheriting a car can be both a blessing and an unnerving responsibility. While it may bring sentimental value and cherished memories, there are circumstances where selling an inherited vehicle becomes a practical choice. In the United Kingdom, the process of selling an inherited car involves navigating legal and administrative considerations. In this blog post, we will delve into the topic and shed light on the possibilities and steps involved in selling an inherited car in the UK.
Understanding Ownership Transfer
Before selling an inherited car, it is crucial to establish legal ownership. If the deceased left a will, it typically designates an executor responsible for distributing the assets, including the car ownership transfer. The executor should apply for a Grant of Probate, a legal document that confirms their authority to handle the estate. With the Grant of Probate, the executor gains the legal right to sell the inherited car on behalf of the estate.
Vehicle Documentation and Valuation
Once ownership has been established, it is important to gather the necessary vehicle documentation. This includes the vehicle registration certificate (V5C), service history, MOT certificates, and any relevant insurance records. These documents provide valuable information about the car's condition, service history, and ownership details. Additionally, obtaining a professional valuation from a trusted source, such as a qualified mechanic or vehicle appraiser, can help determine the car's market value and guide you in setting a reasonable asking price.
Notifying the DVLA
When selling an inherited car, it is essential to notify the Driver and Vehicle Licensing Agency (DVLA) of the change in ownership. The executor should complete the V5C transfer section of the V5C document and send it to the DVLA along with a letter explaining the circumstances and providing the necessary details. The DVLA will update their records and issue a new V5C document to the buyer, ensuring a smooth transfer of ownership.
Choosing the Right Selling Method
There are various methods to sell an inherited car. You can opt for a private sale by advertising the vehicle online or in local classifieds, which gives you the opportunity to negotiate the price directly with potential buyers. Alternatively, you can explore the convenience of using a car buying service, where companies offer to purchase the vehicle outright. If you use an online car selling platform like Sell2Swansway, you can enjoy a smooth selling experience, competitive prices, and collection that suits you. Get your car valuation here.
So, is it easy to sell an inherited car in the UK?
Inheriting a car in the UK does not restrict you from selling it. However, the process involves legal and administrative steps that need to be followed diligently. Establishing ownership, gathering the necessary documentation, notifying the DVLA, and choosing the right selling method are key factors to consider.
Seeking professional advice from legal and automotive experts can provide valuable guidance throughout the process. By understanding the requirements and following the necessary steps, you can navigate the selling process smoothly and ensure a fair and successful sale of an inherited car.
Have you been involved in a car accident and wondered whether it will affect your car’s resale value? Whether you’ve...
Sell your next car with Swansway
If you’re looking to sell your car before it depreciates too much then get a competitive quote in under 60 seconds with Swansway. With over half a century of experience and nearly 8,000 positive reviews on Trust Pilot, you can trust that selling your car from Swansway is simple, risk-free and competitive.