Buying it is only the first step...but then?
Discussion
it's a private sale of an 18 year old 911. my questions are whether you usually have some form of a written contract with the seller, whether I need to register the car in my name before picking it up, and if I can get insurance cover before owning the car (so as to be coverd once I pick it up from the seller)...and whether I'm forgetting something crucial... 
when you buy the car - the following are legal requirements:
The V5 - registration document - there should be two slips attached to the document (although they have changed so i could be wrong) both should be filled out and signed and posted. One is for you to send with your details, the other for the seller to send to say he has sold the car.
You should get the V5 as proof of purchase until the document is sent to you.
You REQUIRE insurance on the car to be able to drive it - you must have at least 3rd party cover.
The car must be taxed (the disc should be shown in the windscreen - the date is the expiry) and come with a Valid MoT (this will be a VOSA certificate - again must be in date)
that is all legally required.
However, it is always prudent to have an official reciept with both persons name and addresses, date of transaction, details of car, amount paid and signatures for both parties to avoid any dispute.
The V5 - registration document - there should be two slips attached to the document (although they have changed so i could be wrong) both should be filled out and signed and posted. One is for you to send with your details, the other for the seller to send to say he has sold the car.
You should get the V5 as proof of purchase until the document is sent to you.
You REQUIRE insurance on the car to be able to drive it - you must have at least 3rd party cover.
The car must be taxed (the disc should be shown in the windscreen - the date is the expiry) and come with a Valid MoT (this will be a VOSA certificate - again must be in date)
that is all legally required.
However, it is always prudent to have an official reciept with both persons name and addresses, date of transaction, details of car, amount paid and signatures for both parties to avoid any dispute.
freemax said:
it's a private sale of an 18 year old 911. my questions are whether you usually have some form of a written contract with the seller, whether I need to register the car in my name before picking it up, and if I can get insurance cover before owning the car (so as to be coverd once I pick it up from the seller)...and whether I'm forgetting something crucial...
Aaahhh, I thought you meant you had to register the car first, like you do with some imported vehicles.
No, basically, you agree a price, then arrange payment. Cash may be easiest as an 18 year old 911 won't be that excessive. Hand him the cash, let him count it. Get him to sign a RECEIPT for the money, which shows that he has actually recieved it from you, and that you have given it to him.
It should say something like:
On 1/8/06 Mr Freemax of [your address] paid the sum of xxxxx as full and total payment for Porsche 911 reg xxxx from the vendor Mr Vendor of [his address]. Signed Mr Freemax [your signature] and Mr Vendor [his signature]
Not strictly necessary, but covers your arse, especially as dealing in cash.
Then get the car keys off him and take the part of the reg document (V5) that is called the 'new keepers supplement'. This can be used to tax the car until your reg doc comes through. He then sends the V5 off with your details (fill these in on the form and sign it while you're there) and the DVLA then reregisters it in your name. It should arrive in two weeks, if not chase up the DVLA and check the seller has sent it. It's in his interest to reregister it in your name as otherwise he could be liable for your speeding tickets and road tax dodges, LOL.
Re insurance, cars can't be insured twice over, but there is bound to be a few hours overlap. All your broker needs is the reg plate. Either tell him in advance and get the car insured from [date/hour of pick up] or ring him up then and there when with the vendor, asking for instant cover. If he's open he should be able to issue a temporary cover note on his system. You'll then be insured.
Buying a car is a simple contract, i.e. you give him money and he gives you a car - offer and exchange. Getting a receipt is sensible as it is paperwork that may be able to be used in court if something goes wrong, ie he tries going back on the deal. Plus reregistration is simple; he does that not you - just get the new keeper slip.
Also remember to get MoT certificate for it, make sure it has tax (otherwise you can't drive it home... either get him to tax it for you beforehand or get to Post Office/pay online actually there and then... but make sure broker has you insured on it on his system first and remember that Post Offices need to actually see physical insurance certificate, so you'd have to pay for the car and leave it at his house for a day or two!). Finally, don't forget service history book, spare set of keys, locking alloy wheel bolt, alarm and stereo codes and check there are tools/jack in the boot. Matching tools are handy to have and not all owners keep them deliberately, they just find there way into tool chests.
Hope this helps. If you're not paying cash, you can use BACS electronic bank transfer, online banking or banker's draft, or let him clear a cheque beforehand. These all have some kind of delay (hours for BACS, days for cheques) so you'll have trust issues i.e. he may not release car until money in his account, and you trust him then to give you the car. BACS only takes a working day, so maybe go with him to bank and do the transfer to his account in front of him. It's not easy faking a NatWest branch. He'll then see it's gone ahead with guaranteed money (non reversible) and you can either have a chat for 4 hours as it goes through or he'll trust you enough to wave you off with his car.
Cash is high risk but convenient.
Rgds
Dom
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