Car Tax – What to do when you Buy or Sell

Car Tax - What to do when you buy or sell

We know that the new vehicle tax rules can be a little confusing so here we’ve tried to make it all a little clearer for you!

 

When you buy a car

 

Firstly, you’ll need to ensure that the vehicle is insured before you drive it! This means having adequate insurance in place even before you’ve driven the car home.

 

When you come to tax the car, you’ll need either;

  • Log Book (V5C) if the car is registered in your name (use the 11 digit Reference Number)
  • or New Keeper Supplement Slip (V5C/2) if you’ve just purchased the vehicles or you are not the registered keeper (use the 12 digit Reference Number)

 

You can tax the vehicle either online, over the telephone or at your local Post Office.

 

Selling or Transferring Ownership

 

You must tell the DVLA when you sell or transfer a vehicle. Once this is done a logbook (V5C) will then be sent to the new owner. This is the point where you’ll get a refund for any remaining months tax left on the vehicle and will be returned to you in the form of a cheque.

 

The tax or SORN is not passed on when you sell or transfer ownership of a vehicle.

 

Refunds 

 

You’ll automatically get a tax refund in 4-6 weeks from informing the DVLA that you’ve;

  1. – Sold the car or transferred ownership
  2. – Scrapped the car
  3. – Exported the car
  4. – Made the car SORN (taken off the road)
  5. – Own a vehicle that is tax exempt

 

There you have it, car tax made simple! If you’re looking for a lease, short-term or long-term please don’t hesitate to get in touch. We have vehicle leases to suit all tastes and budgets, so give us a try, call 01332 290173 or complete the form below and we’ll be in touch as soon as we can

 

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