Ask an expert
I'm looking at selling my vehicle that I own that doesn't have a current WOF, I have shown the WOF sheet to a potential buyer and they're still interested buying it like this and understand the vehicle is "as is where is" which I've mentioned multiple times while communicating to them.
The problem is they're wanting to pay a deposit on the day of buying and then pay whatever amount is left each week. I'm worried about agreeing to this since it doesn't have a WOF they might find other faults in the vehicle and stop paying what is owed over time.
They agreed to sign and write their details on a contract that would state that I would be no longer responsible for any issues of the vehicle after sale and they accept that the vehicle is under "as is where is" and that they have 5 working days to fill in their half of change of ownership form, it would also state that they have an obligation to pay all remaining money owed by a certain date.
Would this be the correct thing to do if I was to accept them paying it off? And is there anything I would specifically need to mention in the contract? Would this be proof enough that they have an obligation to pay me the remaining amount owed no matter what? And if for some reason they were unhappy with the sale would I be responsible for paying for any mechanical fees?
No matter what safeguards you put in place, it's still a private sale and even if you took them to a dispute tribunal in the event it all turned sour, it will be very difficult to get any money back out of them. So it would not be a very good way to sell a car, because even the best intentions can soon change. The best thing you can do is hold the car until paid in full.