I am planning to buy a used car. Can someone please clarify the following questions

1. Is there any document, seller provides which shows that seller does not owe any loan on the car. I do not want any trouble from the lender after I buy a car which has pending debt from the seller.

2. I am already owning one car. For this second car, can I use my existing insurance policy on the day ownership is transferred or I have to buy a new policy for the second car. I just wondering if there is any kind of grace period to allow me to buy a new policy. As insurance policy needs car ownership and plate no. which I can get only after the ownership is transferred. Just want to know the sequence of steps.

Thanks in advance

Liens can be verified from used Vehicle Information Package and CarProof Report.

You need proof of insurance for the new car and same can be obtained based on VIN. Speak to your insurer. They will sent you Automobile Insurance Confirmation (via fax / email). This document shows year, make/model and VIN. You can use the above document for week or so.


UVIP : http://www.mto.gov.on.ca/english/dandv/vehicle/used.shtml

CarProof : https://www.carproof.com/Resources/Whybuy.aspx

Quote:

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Originally posted by seenimesh

Liens can be verified from used Vehicle Information Package and CarProof Report.

You need proof of insurance for the new car and same can be obtained based on VIN. Speak to your insurer. They will sent you Automobile Insurance Confirmation (via fax / email). This document shows year, make/model and VIN. You can use the above document for week or so.


UVIP : http://www.mto.gov.on.ca/english/dandv/vehicle/used.shtml

CarProof : https://www.carproof.com/Resources/Whybuy.aspx

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kumar_v,
pl. check your inbox

Thx,

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