Selling my classic car, questions about registration and insurance?
Question by the faerie: Selling my classic car, questions about registration and insurance?
I am a the owner of the car and I live in southern california.
My car was in storage and I am having it towed to a car shop. Currently it is not registered or insured. Since I dont plan on driving it other then driving it home and having people test drive it, how do I register it since i plan to sell it quickly? Should I wait to register it under the new owner’s name once I sell it? Or do I have to register it under my name no matter what and change the owner name after I sell it? How does that work?
Also, am I the one who should insure it for the new owner? I know that when you buy a car at a dealership they usually give you a few days of insurance. Do I have to provide this service to the buyer or is that something they have to cover themselves?
Thanks so much for helping me with this, I don’t even know where to begin!
Best answer:
Answer by S.
I’m not acquainted with Cali. registration laws. Though I’ve heard through the grapevine that the car needs to be registered to be sold. Call your Dept. of Motor Vehicles to figure it out.
As for the insurance, let the buyer deal with it. As soon as you give him the title and bill of sale, it’s no longer your responsibility. Though it may be necessary if you are letting people take it on test drives before the sale.
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If you are the registered owner but it is not currently licensed, you or the new buyer will have to pay back licensing fees unless you applied for a certificate of non operation. If the car is currently registered in someone elses name and they did not secure a non op you will owe back licensing fees and may have to pay to put it in your name before selling. Any way the back fees can be substantial so you need to check with the DMV before selling as it may affect how much you can sell it for. Good Luck