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Motors Selling Car (Help needed)

Discussion in 'General' started by AoE, 5 Jan 2012.

  1. AoE

    AoE New Member

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    Going to be putting my car for sale on gumtree about a week before insurance expires.

    If somebosy buys it, can they insure it if it's still under my insurance for a week or so?

    I don't want to cancel as I won't get my NCB for the year, and I can't wait to end of policy as I will need transport (i.e new car) as soon as it expires so need time to look around.

    Cheers guys
     
  2. Mojo

    Mojo Well-Known Member

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    i very much doubt you would have any problems!
    but i think the law states you can have only one policy on the vehicle
     
  3. Atomic

    Atomic Gerwaff

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    You can have two policies for different people on a single car. I have insurance on my car and just buy a weeks temp cover for my missus when we drive to the lakes for holidays...
     
  4. AoE

    AoE New Member

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    so if i sell my car before policy expires, a new buyer (stranger) can buy their own permanent policy for the same car, even if I still hold an exisiting policy on it?
     
  5. Cerberus90

    Cerberus90 Car Spannerer

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    I did this when I sold my car.

    Phoned my insurance up to ask about it, and they just told me to leave my policy running, if anything happened and I was contacted just to say its on another policy.
     
  6. Atomic

    Atomic Gerwaff

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    You can buy as many insurance policies for a car as you want, there's no system to stop it.

    They won't all be valid, which makes no difference to you as you'd not be making a claim on your policy.
     
  7. AoE

    AoE New Member

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    so my answer is >>>>>>, yes I can sell my car even before my policy expires and yes a random person will be able to insure it with no problems at that time?

    Do i need to let my insurane company know I'm intend on selling it prior to expiry? as I will be letting them know i dont want it renewed
     
  8. Da_Rude_Baboon

    Da_Rude_Baboon What the?

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    1 - Yes. You can have multiple insurance policies but either only one would pay out or they would split the payout between them. It prevents fraud and stops people taking out multiple policies.

    2 - No need to inform them until after the sale.

    Make sure you fill out a receipt for both of you that both of you sign. It should state the time and date of the sale and the mileage. This prevents the buyer hitting every speed camera on the way home and you footing the bill. Also make sure it says "sold as seen" so they can't come back to you later to complain about a fault or something they didn't see. When doing the viewing never leave the buyer alone in the car with the keys or with it running. If you meet at your house block you car into the driveway with another. Sounds daft but it's a sensible precaution. Accept cash only and make sure the buyer agrees to meet you during the day so you can go to the bank together to deposit the cash and then hand over the keys.

    Whatcar offer good advice on selling
    and a receipt you can download.

    I just went through this selling my car but it was complicated by the buyer coming from overseas. Good luck!
     
  9. AoE

    AoE New Member

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    Thanks for help so far guys, really sorry to be nooby about this :)

    ok mate so my policy has 1 month left on it (dont pay this month) as I've already paid the year now.

    My policy is with M & S, so if person A buys and they go to say axa to insure the car, you mean that as long as they pay under their name thats fine? as I don't want to create confusion for me or the buyer about insurance companies etc

    also, i'm right in saying that a potential buyer does'nt need to know about my policy still running on the car at time of sale?
     
  10. LeMaltor

    LeMaltor >^_^

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    Yes you can leave it running, you won't be driving the car and you won't be making a claim, so it doesn't matter.
     
  11. Black Tiger

    Black Tiger Chineapple Punks

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    if it was me i would phone the insurance company up to make sure everything is clear.

    On your policy it will say that you are the owner of the vehicle, so your selling your car but keeping your policy going until it ends, because you are insured for a car that you no longer own wouldnt the policy be void? this "could" void your no claims bonus. i'm not 100% sure but i would advise phoning up your insurance company just to be on the safe side.

    We all know what insurance companies can be like for worming their way out of things.
     
  12. Cerberus90

    Cerberus90 Car Spannerer

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    phone them up if your at all concerned, but as I said, my ins company told me to just leave it running till I bought my new car.

    I've not had any problems, :D
     
  13. Da_Rude_Baboon

    Da_Rude_Baboon What the?

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    Black Tiger is correct. You don't have to inform your insurance company that you are intending to sell the car but I would let them know once you have sold it. Discuss your no-claims policy and see if you can come to an arrangement.
     
  14. AoE

    AoE New Member

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    ok so surley if this is the case that i dont need to inform them until after the sale, then i dont need to tell them at all?

    i.e. sell the car few days prior to policy expiring, and just ring them up and say i dont want to renew my policy again, then i have my NCB, as they wouldnt know I've sold it?
     
  15. Cerberus90

    Cerberus90 Car Spannerer

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    no, if your not renewing the policy you probably don't need to tell them. Its still probably a good idea to call them just to make sure, as insurance companies seem to be above any laws and can do whatever the hell they like.

    Just make sure to get confirmation of your NCB, which should be the renewal reminder usually.
     
  16. AoE

    AoE New Member

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    ok i will probaly ring them to say i'm thinking of selling, will this effect my policy!

    And also state that I don't intend on renewing with them
     
  17. Cerberus90

    Cerberus90 Car Spannerer

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    It shouldn't affect your policy.

    Just ask them that you may be selling your car before the policy ends, can you just leave it running till the end so as not to lose your NCB?

    If they say no, just don't tell them you've sold the car when you do. :D

    If its only a few days, I can't see it really being a problem anyway, if it was say, 2 months, then you might be into a different kettle of fish.

    As long as you've got your renewal through, with the proof of NCB on, it probably doesn't really matter what you do, as you've got what you need.
     
  18. AoE

    AoE New Member

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    ok man cheers, when would i expect my renewal as my policy end date is 18th i think of feb?
     
  19. logicmike

    logicmike Member

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    your renewal should probably come through about the end of the month and as said once youve got it, it confirms your NCB
     
  20. AoE

    AoE New Member

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    hi guys, will be buying my new car tomorrow...but until my policy expires next month I only have 1 NCB, but can I say to a new insurance company (service xk one quote direct) that I have 2 NCB? is there any way of them finding out as I technically I do have 2 but just not yet!!!
     

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