Selling a car - can they take car away same day?

fivetide

vax2002 wrote: »

the car will still be covered for purposes of the Road Traffic act under YOUR insurance until you have informed the insurance company.
So technically yes you could end up with a claim.
It is the first call with the number on re-dial on your phone, soon as they sign, get someone to call the insurance and inform them of the transfer of this vehicle.

No it won't.

The owner of the vehicle has to insure it. If the buyer arrives at 9pm then the OP will not be able to reach their insurance, they'll be shut.

What it will do is stop the car being tagged by ANPR but the OP will not end up with a claim on their insurance at all.

5t.

l-cooper9

Has anyone ever let the viewer / potential buyer take the car for a test drive without you being in the car?
I only ask as It may be just me at home (which being female i dont feel comfortable going in a car with strangers). My partner is hoping to be home, if not my parents can come over but not sure if I can just let them take car for test drive of their own if they leave there car with me? Anyone had good/bad problems with this?
I know i should have arranged it another time when both at home but I didnt want to put the viewer off by saying no not today not tomorrow etc.

vax2002

Insurance is a two part product legally bonded for purposes of the road traffic act.
Other Insurance is an extra you buy for fire and theft, car stereos, the mandatory element is known as third party cover.
Until cancelled, it remains in force and anyone injured by a car bonded for third party cover will be paid out for loss or injury only.
Cancel the insurance once they sign !

JimmyTheWig

l-cooper9 wrote: »

not sure if I can just let them take car for test drive of their own if they leave there car with me? Anyone had good/bad problems with this?

They did this on the Real Hussle, once. Left a stolen car worth £10k as "security" when they took the car worth £25k for a test drive.
You can guess the rest.

As you say your car is only worth £850 I can't imagine anyone pulling this scam! But I wouldn't personally be happy letting them do it.

JimmyTheWig

vax2002 wrote: »

Until cancelled, it remains in force and anyone injured by a car bonded for third party cover will be paid out for loss or injury only.

Are you saying that if I let my friend take my car and drive it without insurance then if he has an accident then my insurance will pay out?

fivetide

JimmyTheWig wrote: »

Are you saying that if I let my friend take my car and drive it without insurance then if he has an accident then my insurance will pay out?

But if he did then he wouldn't be driving without insurance would he as Vax is telling us the car would be covered 3rd party which is what the law asks for....

5t.

JimmyTheWig

Yes, that is the implication, 5t, isn't it.
Is that what you meant, vax?

vax2002

No, the insurance will meet its obligations under the road traffic act with respect to third party liability.
Once a car is bonded, its covered for any third party losses by law, no matter who is driving, even stolen, but its strictly limited to what is required by the road traffic act.
Any other insurance is the drivers, fully, comp ect
However the law states each driver must also have insurance in force.
The two are not the same, so anyone driving that car that is bonded will have any losses paid out from the insurance bonded to the vehicle, but they will ALSO be prosecuted for not having insurance held on the vehicle themselves.
Its confusing !

So if the buyer of your car runs over a group of nuns before you cancel it, the nuns will get paid out for injuries from your insurance bond, the driver will be prosecuted for driving with no insurance held, the two are separate.

If you cancel it as soon as sold, the bond is cancelled or placed on hold.

So effectively car insurance is belt and braces, a driver is insured and the vehicle is as well, so in the off chance someone nabs the car, any loss caused by it is covered for loss only.
They would still be charged with no insurance.
The legal term is "underwritten"

pinkteapot

Just out of curiosity OP, where did you advertise the car?

Need to sell a car of a similar value to yours and, having never sold a car, I don't know whether local paper, Auto Trader or eBay is the best route... Sounds like whatever you used has worked!

Rover_Driver

vax2002 wrote: »

No, the insurance will meet its obligations under the road traffic act with respect to third party liability.
Once a car is bonded, its covered for any third party losses by law, no matter who is driving, even stolen, but its strictly limited to what is required by the road traffic act.

It is the user that is required to be insured, not the car itself - s.143 Road Traffic Act 1988. Once the new owner takes possession, they are responsible for insurance.