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Auto insurance

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Auto insurance

Hi,

Does anyone know more about auto insurance? I am planning to sell my car. I never thought such a situation would happen to me. It was my dream to own a car and it came true in 2015. It was a wrong decision then to convert it into a business permit car in May 2016.

A number of paper works were needed for the process to get completed. And I had to face some tax consequences too. The second mistake I made was the packaged food business which was already in my plan!

I thought the business would get into the track within months. But all my plans went wrong. Now, I have no way other than selling my car. But, I think again the ps would be complicated. I have a lot of things to know in detail.

What are the paper works for selling a car? My doubts are regarding the car insurance. How can I transfer the insurance to the buyer? My insurance was secured from one of the companies providing personal auto insurance in Oshawa. Can I directly consult them now for the service?

And what are the related procedures? if you have a previous experience, kindly let me know it as soon as possible. Thank you.

1 REPLY
Your Community Expert

Re: Auto insurance

Hi @Martin01, thanks for getting in touch. I'm really sorry to hear that you have to sell your vehicle. It is the responsibility of the owner of the vehicle to insure the car. When you sell your vehicle, your insurance doesn't transfer with it, this isn't something you need to worry about. If you have an existing car insurance policy for the vehicle you're selling you must notify your insurance company of this. With regards to the paperwork required for selling a vehicle, you can find more information here - https://www.gov.uk/sold-bought-vehicle. I hope this makes things a little clearer for you, if there is anything else then please let me know.