• This topic has 23 replies, 11 voices, and was last updated 5 years ago by simmy.
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  • buying and selling cars…..
  • Premier Icon sadexpunk
    Full Member

    currently about to do both, buying 2 cars and selling one. realised i dont have all the knowledge at hand if i do see a car.

    buying.
    1. are you more likely to get more money knocked off at a dealer if you go through the motions of taking out their loan, then cancelling within a month? just seem to remember someone advising that a while ago rather than waving cash at them.
    any little tips to try and get a better deal? ive seen a local car at £1500 that i think is £500 dearer than others around the country at the same spec. is this a dead deal not even worth considering or may i be able to knock that money off somehow?

    2. is there a % surcharge if you pay by credit card? so best to make sure debit card has enough at the ready?

    3. tax. not up to date on current tax situation. do you pay for tax monthly these days? and its tied to you rather than the car or something? whats the process of taxing a car you want to buy?

    4. same with insurance. do i need to have contacted the insurers beforehand to say i could be about to buy a car so can you be ready to insure me for the journey home whatever i buy?

    5. wifes just passed her test so we’re looking for a small second car for her. what in general would be the best way to insure both of us for 2 cars? her being a named driver on my insurance with the ability to drive any car? other way round? separate policies allowing 3rd party cover on other cars etc? or something else?

    selling.
    1. anything to look out for scamwise from a potential buyer? do i need to insist on either cash or bank transfer? would paypal/anything else allow them to take the car then claim back later?

    thanks in advance for any answers to any or all of the questions above 🙂

    Premier Icon breadcrumb
    Full Member

    1. I doubt you’ll knock off £500 from a dealer. I’d say at that price range cash is king though.

    2. I don’t know of any % surcharge on a credit card other than the the interest you would pay.

    3. You will have to tax the car, monthly is an option I think but it’s cheaper to do it by the year. The dealer may be able to do it for you, try to get out chucked in to the price.

    4. Get some quotes, once you buy the car take out the policy before driving it away. Online is good for this.

    5. She’ll be best on her own policy, her car will need insured regardless. Best to put each other down as named drivers.

    As for selling, bank transfer sounds the best or cash. I wouldn’t be using PayPal.

    Premier Icon trail_rat
    Free Member

    1. 500 quid off a 1500 quid car . no chance – you are comparing apples for apples ie its 500 quid dearer than the same spec same condition same milage car AT ANOTHER DEALER – not private.

    2. Most but not all car dealer loans are front loaded meaning the interest is added right at the start so canceling in a month you still pay all the interest due – other have a penalty clause amounting to the remaining interest. its rare to find a loan from a dealer that you can do this with these days but they do exist.

    3. taxing monthly is bloody expensive over doing it yearly , also when you get rid of your car you only get whole months back so sell yours on the 2nd of the month and buy your new one on the 3rd – you will pay 2 lots of tax for that month.

    4- what he said.

    5. You will need to insure one car as yours and one as hers. you cannot use your ncb on both so it will be expensive either way and you must not insure the car she uses most of the time in your name to reduce the price as it is called fronting…. be sure to put the car she insures in her name so all the paperwork ties up as insurance is cheaper this way and means less issues if there is an incident (one of the questions that insurers ask is that you are registered keeper as it reduces paperwork if theres not a third party involved so you get cheaper insurance) so you + her named on your car and her plus you named on her car. Occasionally some policys say policy holder + spouse but not all of them do this these days.

    Premier Icon pictonroad
    Full Member

    2 – sometimes, best to phone and ask

    Premier Icon ourmaninthenorth
    Full Member

    1. Pretty sure all consumer credit has a cooling off period where you can change your mind. You’d need to look into this carefully.

    TBH at if the £1500 car is £500 overpriced, go elsewhere

    Premier Icon sadexpunk
    Full Member

    thanks chaps

    1. ok, maybe too much to ask but its a fairly large place so ill prob have a visit see what else theyve got in and maybe mention how overpriced i think it is, see what they say.

    3. so the most financially beneficial is buy a car and sell a car last day of the month? buy, i get a full months tax from tomorrow, sell, claim all next months and beyond back? have i got that right?

    4. ill look at a few quotes then, and probably ring my current insurer too.

    5. separate policies it is then.

    thanks 🙂

    Premier Icon curiousyellow
    Free Member

    5. Some multicar policies allow the named driver to accumulate no claims discount. You may be a little bit better off with a policy from the same provider for both cars even if your spouse is the main driver/registered keeper.

    Premier Icon revs1972
    Free Member

    3. taxing monthly is bloody expensive over doing it yearly , also when you get rid of your car you only get whole months back so sell yours on the 2nd of the month and buy your new one on the 3rd – you will pay 2 lots of tax for that month

    Really ? It’s less than £1 extra per month on most cars.

    Premier Icon trail_rat
    Free Member

    4%

    there are 3 cars at my address – thats 36 quid each year basically INTEREST on the loan you have taken on your car tax.

    36 quid for nothing really as your paying it anyway.

    Its like paying your insurance monthly – its just another form of credit.

    but people like to pay things monthly as it seems like “only”

    I resent VED anyway – should be built into the fuel in a “more you use the more you pay aspect. i pay the same VED on each of my 3 cars despite the three vehicles in total doing less annually than most folks single cars

    Premier Icon sadexpunk
    Full Member

    just thinking about insurance costs…..

    if i have say a focus worth a grand, and wife has dearer car but cheaper insurance group, is there any point in ‘swapping cars’?
    so if we have separate policies, and we’re both named as drivers on each, would it work out cheaper to insure her for ‘my car’ instead and vice versa?
    or does the fact she’d be named on both policies even itself out to be the same cost?

    also looking at joint policies where she’d still be able to hopefully build up a no claims for herself. any benefit to working out which car may come out cheaper for her to insure?

    thanks

    Premier Icon trail_rat
    Free Member

    its all down to whos going to be driving it most……

    with couples its a pretty grey area but you dont want to be caught out for saving a couple of bucks….

    just takes one slip of the tongue after the incident and your ****.

    also car value is not very indicative of insurance cost. statistics are – statistics indicate that new drivers will have a crash, they indicate that new drivers in powerful cars will have a crash.

    Why does she need to be insured on your car? why not get her a car and insure her on it with you as a named driver. then insure your own as just yours.

    money saved.

    Premier Icon sadexpunk
    Full Member

    just takes one slip of the tongue after the incident and your ****.

    i wasnt advocating lying about anything. say if shes insured on ‘the cheaper car’ as being hers, and has a prang in my car, surely theres nothing to hide if shes insured as a named driver? does it matter who drives it the most?

    Why does she need to be insured on your car? why not get her a car and insure her on it with you as a named driver. then insure your own as just yours.

    yeah, tis a possibility, not sure how much money that would save tho. if theres just a few quid in it, itd be nice if she was able to drive ‘a proper car’ from time to time 😀 or in emergencies maybe.

    thanks

    Premier Icon trail_rat
    Free Member

    yes , what your proposing is called fronting IF she drives “your” car the most.

    chances are you wont get caught …. but answer one question wrong after the incident when stressed/shock …dont expect an easy ride.

    http://www.moneysupermarket.com/car-insurance/blog/back-to-fronting/

    Premier Icon dogmatix
    Full Member

    I always use this…

    https://www.gov.uk/check-mot-history

    Only need the reg and make. Do it even (or more so) for cars from dealers. Personally I trust private more than dealers. People often take cars to dealers that are on last legs.

    The check helps you see things that have been spotted on past MOTS and gives you at least some idea of the condition of the vehicle. Some often flag up oil leaks that are not a fail, but good to know about.

    Premier Icon aracer
    Free Member

    ourmaninthenorth wrote:

    1. Pretty sure all consumer credit has a cooling off period where you can change your mind.

    Indeed it does – but it’s 14 days, not a month. If you cancel within this period they can’t charge you interest even if it’s “front loaded”.

    Premier Icon sadexpunk
    Full Member

    o-kaaaay……. good chance ill be picking up a second hand car for my wife tomorrow, nissan note, private sale.

    just want to make sure im ok should anything happen on the journey home (motorway journey, not local).
    im thinking i need to ring insurance as soon as its signed over. already rang them for a quote and think i just need to ring to say “yes, do it, ive bought it now”.
    as for tax, im getting differing advice from different people. some say do the same as insurance, ring up pronto with new owner details. others say naaaah, anpr cameras will still have it as taxed for now, drive it home, wait for start of month, then tax.
    singletrack will have the correct answer. what is it? 🙂

    Premier Icon br
    Free Member

    as for tax, im getting differing advice from different people. some say do the same as insurance, ring up pronto with new owner details. others say naaaah, anpr cameras will still have it as taxed for now, drive it home, wait for start of month, then tax.[/]

    I’d ignore what people say, and just use the device that you’re typing your posts on and Google for the answer.

    And whatever date the seller puts on the V5 is the date from which you’ll need to have the car taxed from.

    Premier Icon sadexpunk
    Full Member

    right, got the car and now want to tax it from tomorrow (1st feb)

    ive gone onto the government site, followed the links pretty much clicking ‘i do not have the logbook, i have a V5C/2 green slip’, but when i get to the final page where i put in the reg no and the 12 digit code from the green slip, it says the number is invalid. ‘you should have recieved a V5C vehicle registration certificate (log book) in your name for the vehicle, please use the reference number from this to renew your vehicle tax.
    If you have not received the V5C vehicle registration certificate (log book) for the vehicle, in your name, please complete form V62 – application for a vehicle registration certificate and send to DVLA Swansea. Click here to get V62′

    but i havent recieved the new logbook yet. if i apply for the V62 and the logbook comes tomorrow (or the day after, or 2 or 3 days time) have i prolonged the process?

    how can i make the vehicle legal from tomorrow??

    thanks

    Premier Icon simmy
    Free Member

    Is it’s still showing as taxed ?

    https://www.gov.uk/get-vehicle-information-from-dvla

    Premier Icon simmy
    Free Member

    You can tax it at a Post Office with the V5C/2

    https://www.gov.uk/car-tax-disc-without-v11-reminder

    Also says it can take 5 days to update so if it’s still showing as taxed……..

    Premier Icon sadexpunk
    Full Member

    using that link, it shows it as untaxed.

    PO my only option then? thatll be a PITA as she wants it for work tomorrow :-/

    EDIT: shows it as untaxed from 24th jan. surely if so then it should allow me to tax it today somehow??

    Premier Icon simmy
    Free Member

    not a clue why it’s not coming up online – it should just be able to tax it if it’s not taxed at the moment.

    All the numbers on the V5C/2 visable not damaged etc ?

    Correct V5C/2 for that car ?

    Best not to use it unless you can tax it online.

    Edit :- is it showing up as insured ? http://www.ownvehicle.askmid.com

    Premier Icon sadexpunk
    Full Member

    all numbers visible and correct V5C/2.

    yep, it shows as being insured. do you ask that as a car cant be insured if its not taxed or something? if so yep it does seem strange that its insured but not taxed. but yeah, wont use it til we can tax it.

    thanks

    Premier Icon simmy
    Free Member

    Nearly right ha ha, it needs to be insured before you can tax it.

    I posted that link thinking it may not be on the MID system so, therefore, the DVLA site wouldn’t allow it to be taxed.

    Really can’t understand it. To tax it you have to have valid insurance, MOT ( if over 3 years ) before it will allow you to tax it so, with those in place, I’ve not a clue. Try later may be a fault on the DVLA website ????

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