most important thing is to get insurance quotes before you meet and make sure you can start them with one call (most will).
check bike (test ride if needed)
if satisfied sign V5 get current owner to sign too and fill in your details (this will be sent off by the owner) and keep cutoff part of V5 (proof of ownership)
Call insurance comp, start insurance and ride home smiling!!
I looked into this when my new (bright red) V5 came … you have a moment of panic when the document says in big letters “you aren’t necessarily the owner of the vehicle - but the registered keeper” :w00t: … instantly thoughts spring to mind of the log-book-loan nonesense that we’ve been reading about recently …
I guess the point is … ask to see photo ID of the seller … if his name/address and photo match up to the “registered keeper” on the V5 … then you should be ok … but that is a big should … and I guess it is the DVLA’s way of covering their own back by saying “well you were warned” if it goes tits up
V5 has never been proof of ownership, that’s why it calls the holder of the V5 the registered keeper.
Having said that, if you need to collect your vehicle from a police vehicle pound, they’ll want to see a V5 in your name as proof of ownership.
Ridiculous, eh ?