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In this video tutorial, the speaker explains the steps to complete the V5 document when selling a car. First, both the seller and buyer need to sign the appropriate sections of the V5. The seller should retain the yellow section, cut it out, and keep one part of the page after tearing it in the middle. The buyer’s details, including name and address, must be included. After completing these steps, the seller should send the V5 to notify the DVLA of the sale. The seller may also receive a tax refund if applicable. The video encourages viewers to subscribe and like the content if they found it helpful.