New car - insuring old one until sold - cheapest?

pimento

I pick up my new car on Thursday evening. I've arranged for my insurance to be switched to my new car starting Thursday but that means my current car will have no insurance until I sell it. My cover lets me drive another car third party with the permission of the owner (that'll be me then) but is it legal to keep an uninsured car on my drive until it's sold? (Hopefully quickly, I have it advertised already).

I won't need to drive it anywhere but I suspect that a prospective buyer might want to test drive it.


Or should I try to find some short-term third party insurance for it (1999 Ka worth about £500)...

closed

Sell it to a dealer quickly?

Your insurance probably doesn't cover you to drive it if it's owned by you.

You can keep it on a drive uninsured, but not on the road. If someone wants a test drive, they should provide you with an insurance document that says they are covered, if it's not insured by you also, it probably won't be.

pimento

I doubt I'd get anything at all from a dealer. That would be my last resort really. What about SORN? Presumably I don't have to worry about that until the tax (and MOT) runs out in October?

closed

Don't need to sorn before Oct unless you want a refund of the tax disc. If you add up all the costs of advertising, tax disc, and depreciation, it's all eating away at the value, why didn't you part ex it?

pimento

Because the dealer didn't want it. He said the price would have been the same with or without the part-ex. He might have offered a couple of hundred pounds, there are similar cars for sale on AutoTrader for £895 and I think I might get £500 for it.

I have room on the drive and I don't pick the new one up until Thursday. My son has Tweeted it and I'll stick some signs in it tomorrow.

Sandrock

Your cover for other cars third party with permission of an owner will be for cars NOT owned by you.

The wording will state

"This policy entitles the policy holders to drive other vehicles not owned by the policy holder provided the owner has provided consent and the policy holder holds a licence to drive vehicles" or very similar.

forgotmyname

Why did you not get your insurance to keep both cars covered?

I have found smaller brokers to be best for these types of situation,
One even said he will hang onto the paperwork for a few days and there will
be no charge.

Shame these places are few and far between now.

Keith

Just put it on the drive and advertise it on eBay, it's cat 2 protected anyway so is hard to steal. Doesn't need to be insured on the drive, leave it there until it sells. Buyer insures if they want test drive, they can use day insure or similar.

TBH a buyer of a £500 Ka should know it's going to need top mounts/wishbones/springs anyway

pianeet

i am in the same situation at the moment i just phoned insurance (privilige) and they transfered the insurance to my new car then insured me for a month on my old car for £30 until i sell it,works out at a pound a day for peace of mind.