Cost involved in buying second car before selling existing one. Please help.

Joy_mate

Hello everyone.
I am 38 yo female having manual car. I really want to buy a automatic car now as my existing one is old and I have left leg problem to go with manual car.
I am thinking to buy a another car within short period, so what are the cost involved behind buying another car before selling existing car. Practically I will be owner of two cars until I sell my previous car. (Though I don't want to be but.....)
Is it good to buy second car before selling existing one.?.
What are the cost involved which I need to pay for both the cars?
Many thanks in advance.

neilmcl

What do you mean by costs involved, isn't it obvious. You have to stump the cash to buy a new car without getting anything for your current one not to mention insurance and tax, assuming you're not going to SORN either one.

forgotmyname

zero no claims for another insurance policy. But you already knew that.

You dont want to have 2 cars? Then dont have 2 cars. is it good to buy a car and still have the old one? NO.

next?

martinthebandit

Just trade your old one in towards the new one, or flog it for less than 80% of it value to we buy any car or similar?

Am I missing something?

bigjl

Why do you need to keep the current car of its getting on a bit?

facade

You drive around in the old car looking for a new one.

You either trade in the old one against the new one, or keep the old one.

When you collect the new one, you transfer your insurance to the new one, and get "temporary additional cover" on the old one, usually for 2 weeks or so.

You then drive round in the new car for almost 2 weeks, and if it doesn't break you can drive the old one to WBAC and collect a small amount of cash.

Costs?

Price of new car
VED for new car
Massive admin fee from your insurer, even though it is all done by a few mouse clicks whilst you are on the 'phone

Recoveries
Few quid from WBAC (anything over £99 they take £50 back as "admin")
Any whole months VED you paid in advance.

buglawton

Beware of the new higher 'second car' tax rate being introduced soon

lemontart

I am in process of doing this, the costs are as follows

Cost of Car
Cost of Taxing that car
Cost of insuring the car- if you are lucky your current insurer will let you add the vehicle to the current policy if not you have two options. 1. complete new policy with for the new car, but as any no claims bonus you have will no doubt be on the current vehicle, this is going to be costly in the sort run whilst you sell on the old car. 2. Temporary insurance that can be up to 28 days - google for quotes. - advantage of this is gives you specified time to get rid of old car and sort out new policy with the no claims bonus on the new car.

forgotmyname

lemontart wrote: »

I am in process of doing this, the costs are as follows

Cost of Car
Cost of Taxing that car
Cost of insuring the car- if you are lucky your current insurer will let you add the vehicle to the current policy if not you have two options. 1. complete new policy with for the new car, but as any no claims bonus you have will no doubt be on the current vehicle, this is going to be costly in the sort run whilst you sell on the old car. 2. Temporary insurance that can be up to 28 days - google for quotes. - advantage of this is gives you specified time to get rid of old car and sort out new policy with the no claims bonus on the new car.

You forgot the cost of getting 2 cars home when you buy the new car.