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Unable to insure brand new car, what to do?

whitejohn
whitejohn Posts: 218 Forumite
Part of the Furniture 100 Posts Combo Breaker
edited 24 October 2023 at 8:17AM in Motoring
I ordered a factory special from a main dealer. The car arrived 2 months late. I'm now unable to insure it as it is "not on the system". It appears that no one in the UK has bought this model/configuration before. It is still at the dealer unregistered. Only the deposit has been paid.

The main insurance companies and underwriters declined.
Several insurance brokers said they could fix it but when I asked for a copy of the policy, I noticed they had registered it as a similar model which is incorrect. 

My dealer is trying to get a fix from the manufacturers' insurers (broker) at a cost of £3000 PA.
However, I would be stuck with one insurer and an inflated price.

My question is, how do I (or the dealer) get it "on the system" for all insurance companies?

Is it just one magic database or is it more complicated than that?

I really want this vehicle but I am prepared to walk away from the deal if it's a potential lemon.
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Comments

  • 400ixl
    400ixl Posts: 4,096 Forumite
    1,000 Posts Third Anniversary Name Dropper
    What does the V5 document say the model is?
  • whitejohn
    whitejohn Posts: 218 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    400ixl said:
    What does the V5 document say the model is?
    I don't think it has one yet. I believe it cannot be insured, so it cannot be registered, so it doesn't have a V5. If it does have a V5 then the dealer has it or owns it till I pay?
  • GrumpyDil
    GrumpyDil Posts: 1,916 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper Combo Breaker
    The V5 surely comes first as that would be issued as part of getting a reg number assigned? 
  • whitejohn
    whitejohn Posts: 218 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    GrumpyDil said:
    The V5 surely comes first as that would be issued as part of getting a reg number assigned? 
    No. I was given a choice of registrations and selected one. However, it can still be allocated to someone else as it's not actually registered to the vehicle yet. If there is a V5, the dealer still owns the vehicle and the V5 until I pay in full. Fortunately I have not paid in full otherwise I would own a very expensive garden ornament.
  • Ayr_Rage
    Ayr_Rage Posts: 1,911 Forumite
    1,000 Posts Second Anniversary Photogenic Name Dropper
    What is the car ?
  • whitejohn
    whitejohn Posts: 218 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    edited 24 October 2023 at 8:16AM
    I ORDERED a brand new vehicle valued at £55,000 and paid a £1,000 deposit.

    For technical reasons, insurers are refusing to insure it. (long story)

    The dealer is working on a possible fix for £3000 PA Insurance. I do not want to be tied to just one company at an inflated price. I will never be able to sell it in the future.

     The vehicle is still with the dealer and is unregistered.

    My question is: Can I reject this vehicle even though I have signed a contract to buy it?

    Am I entitled to my deposit back?

    It arrived 2 months late and I'm now into month 3 so I need to be giving them a deadline?
  • MikeJXE
    MikeJXE Posts: 3,747 Forumite
    1,000 Posts Second Anniversary Name Dropper
    edited 24 October 2023 at 8:16AM
    Probably best to start with the terms and conditions 
  • the_lunatic_is_in_my_head
    the_lunatic_is_in_my_head Posts: 8,782 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    edited 24 October 2023 at 8:16AM
    Did you buy in person or online or such? If in person there isn’t a right to cancel.

    You can breach the contract and not take the car but the seller could seek to claim costs suffered or loss of profit.

    Are you saying it hasn’t been delivered yet?

    If so what was the timeframe for delivery? 

    If they are past the stated timeframe for delivery you have the right to treat the contract at an end for a full refund of the deposit if you give another reasonable timeframe and they fail to meet that as well. 

    Motoring forum on here might be able to help with the insurance aspect :)
    In the game of chess you can never let your adversary see your pieces
  • whitejohn
    whitejohn Posts: 218 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    edited 24 October 2023 at 8:16AM
    MikeJXE said:
    Probably best to start with the terms and conditions 
    I will try and upload them.

    At present it is uninsurable so definitely unfit for purpose? 


  • baser999
    baser999 Posts: 1,232 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    edited 24 October 2023 at 8:16AM
    Did you not check out insurance before buying? 

    Ignore this, have just seen your separate thread explaining about the insurance situation 
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