How to deal with old car with new (lease) car coming soon...
Discussion
Hi all - I haven't had to sell a car for 10+ years as i've been leasing, so i'm out of touch with what to do and looking for some help please.
My 'owned' car is currently for sale on AT and eBay. My new 'lease' car is being delivered next friday. If my owned car hasn't sold by then, how do I deal with the tax/insurance/AA etc on it? I won't be using my current car once the lease arrives. My lease is through work so comes with its own insurance/breakdown etc.
I'm just a bit befuddled by it TBH and could do with a steer on how to deal with it.
Do I SORN my car? do I cancel the AA/insurance? Help
My 'owned' car is currently for sale on AT and eBay. My new 'lease' car is being delivered next friday. If my owned car hasn't sold by then, how do I deal with the tax/insurance/AA etc on it? I won't be using my current car once the lease arrives. My lease is through work so comes with its own insurance/breakdown etc.
I'm just a bit befuddled by it TBH and could do with a steer on how to deal with it.
Do I SORN my car? do I cancel the AA/insurance? Help
SPD14 said:
Hi all - I haven't had to sell a car for 10+ years as i've been leasing, so i'm out of touch with what to do and looking for some help please.
My 'owned' car is currently for sale on AT and eBay. My new 'lease' car is being delivered next friday. If my owned car hasn't sold by then, how do I deal with the tax/insurance/AA etc on it? I won't be using my current car once the lease arrives. My lease is through work so comes with its own insurance/breakdown etc.
I'm just a bit befuddled by it TBH and could do with a steer on how to deal with it.
Do I SORN my car? do I cancel the AA/insurance? Help
Why do anything? If you aren't transferring insurance over to the new car that doesn't come into the equation, and not having it insured or taxed will make it impossible to sell it as you won't be able to do any test drives/rides. Your best bet is to come up with a strategy to shift the car on before the new one arrives, so reduce the price or prepare for WBAC or similar as you get close to the deadline.My 'owned' car is currently for sale on AT and eBay. My new 'lease' car is being delivered next friday. If my owned car hasn't sold by then, how do I deal with the tax/insurance/AA etc on it? I won't be using my current car once the lease arrives. My lease is through work so comes with its own insurance/breakdown etc.
I'm just a bit befuddled by it TBH and could do with a steer on how to deal with it.
Do I SORN my car? do I cancel the AA/insurance? Help
When I do similar (buy another car without selling the old one first), I keep them both taxed and insured.
If your lease car is to be insured with your current insurer as well (i.e. insurance cover isn’t included in your lease), then you can ask your current insurer to put your old car on temporary cover along with your new car so they are essentially covering both cars under the same policy.
If your lease car is to be insured with your current insurer as well (i.e. insurance cover isn’t included in your lease), then you can ask your current insurer to put your old car on temporary cover along with your new car so they are essentially covering both cars under the same policy.
Assuming the old car is something which should sell relatively quickly, the simple answer in this case is do absolutely nothing. As the new car isn't your responsibility to insure, tax etc there's not even the need to pay and arrange for both to be insured in the short term.
If you SORN the car, it becomes much harder to sell as nobody can then test drive it (or you demo it to them working on the road)
You could get rid of the breakdown cover to save a few pounds if you want, but check out who provides the breakdown cover for the company fleet first - some of them provide very limited cover and you might want to supplement with your own policy, particularly if you have young children.
Alternative is to sell the old car to one of the various car buying companies who will take the car away tomorrow and turn it into cash. You will get a bit less for it, but save on quite a bit of hassle if it's a fairly ordinary common car like a Focus. If the car is in decent condition, it can also be worth asking any local secondhand dealers direct if they are looking for stock, as they will sometimes buy direct from the public to save on auction fees.
If you SORN the car, it becomes much harder to sell as nobody can then test drive it (or you demo it to them working on the road)
You could get rid of the breakdown cover to save a few pounds if you want, but check out who provides the breakdown cover for the company fleet first - some of them provide very limited cover and you might want to supplement with your own policy, particularly if you have young children.
Alternative is to sell the old car to one of the various car buying companies who will take the car away tomorrow and turn it into cash. You will get a bit less for it, but save on quite a bit of hassle if it's a fairly ordinary common car like a Focus. If the car is in decent condition, it can also be worth asking any local secondhand dealers direct if they are looking for stock, as they will sometimes buy direct from the public to save on auction fees.
SPD14 said:
Hi all - I haven't had to sell a car for 10+ years as i've been leasing, so i'm out of touch with what to do and looking for some help please.
My 'owned' car is currently for sale on AT and eBay. My new 'lease' car is being delivered next friday. If my owned car hasn't sold by then, how do I deal with the tax/insurance/AA etc on it? I won't be using my current car once the lease arrives. My lease is through work so comes with its own insurance/breakdown etc.
I'm just a bit befuddled by it TBH and could do with a steer on how to deal with it.
Do I SORN my car? do I cancel the AA/insurance? Help
Keep it all as is. But you probably want to do the sums on what the genuine sale price might be for a private sale and how long that will take versus the price on offer from WBAC and the like? The spread might be enormous or it could be so small that just getting shot is the smarter call. My 'owned' car is currently for sale on AT and eBay. My new 'lease' car is being delivered next friday. If my owned car hasn't sold by then, how do I deal with the tax/insurance/AA etc on it? I won't be using my current car once the lease arrives. My lease is through work so comes with its own insurance/breakdown etc.
I'm just a bit befuddled by it TBH and could do with a steer on how to deal with it.
Do I SORN my car? do I cancel the AA/insurance? Help
66HFM said:
What's the car, how old is it and what's the mileage on it?
You may also gets some views as to what's it s worth.
Good luck.
It's a 2009 Audi S5 V8, so pretty specialist to the point where WBAC etc won't offer anywhere near what it's worth, otherwise i'd probably go with them.You may also gets some views as to what's it s worth.
Good luck.
I guess i'll just stick with it as-is and hope it's sold ASAP.
Thanks everyone for the input.
SPD14 said:
It's a 2009 Audi S5 V8, so pretty specialist to the point where WBAC etc won't offer anywhere near what it's worth, otherwise i'd probably go with them.
I guess i'll just stick with it as-is and hope it's sold ASAP.
Thanks everyone for the input.
Keep it. Stick it on a classic car policy. Handy weekend toy during a future life of fleet cars and EVs. I guess i'll just stick with it as-is and hope it's sold ASAP.
Thanks everyone for the input.
I tend to find WBAC are some of the lowest prices you get. Pretty much all others I've put in the past have been at least double what WBAC had offered.
Are there any performance orientated car dealerships near you? Might be worth popping by and seeing if they want your car as stock? Would be less than what you're wanting from private sale, but could be a lot less hassle
Are there any performance orientated car dealerships near you? Might be worth popping by and seeing if they want your car as stock? Would be less than what you're wanting from private sale, but could be a lot less hassle
Jayho said:
I tend to find WBAC are some of the lowest prices you get. Pretty much all others I've put in the past have been at least double what WBAC had offered.
Are there any performance orientated car dealerships near you? Might be worth popping by and seeing if they want your car as stock? Would be less than what you're wanting from private sale, but could be a lot less hassle
Something like Motorway where individual dealers bid for the car rather than a faceless computer and the car ends up at auction?Are there any performance orientated car dealerships near you? Might be worth popping by and seeing if they want your car as stock? Would be less than what you're wanting from private sale, but could be a lot less hassle
I bought a new car fairly recently and was in the process of selling the old one. When I called the insurer to add the new car, what they did was remove the old car from the policy and add it back on a temporary basis (for, I think, 30 days) during which if it sold the insurance would automatically end, and would end in any case after 30 days (I didn't have to tell them either way). They said if I needed it longer to let them know and they'd add it for further 30 day periods. In the end there was less than a week overlap.
Somehow ended up getting a refund of about £40 quid on the premium, even though the new car was more than quadruple the value.
As for AA, all my AA memberships in the past have covered the driver, not the car, so maybe check that and if it's the car, change to a policy that covers the driver in any car.
Tax these days you get a pro rata refund for any (full) months you don't use, so theoretically there shouldn't be too much cross over.
Somehow ended up getting a refund of about £40 quid on the premium, even though the new car was more than quadruple the value.
As for AA, all my AA memberships in the past have covered the driver, not the car, so maybe check that and if it's the car, change to a policy that covers the driver in any car.
Tax these days you get a pro rata refund for any (full) months you don't use, so theoretically there shouldn't be too much cross over.
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