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Do I need to register/insure a car I intend only to fix up and sell?
In the state of NJ, If I plan on purchasing a car, only with the intent to fix it up and re-sell it, is it necessary to register the car and insure it? (I do not plan on driving it at all. It will be delivered to the place where I am working on it by truck.)
3 Answers
- 1 decade agoFavourite answer
You should Insure it for fire and theft. Since it isn't to be driven, it can be insure for a minimum amount. If you plan to drive it, you can insure it for the day only.
- oklatomLv 71 decade ago
Do you have a dealers license, and fleet insurance? If not you will have to register and insure it. You do plan on letting the buyer test drive don't you? I thought so. And you can't do that without insurance and current registration.
And I'm pretty sure the buyer doesn't want to pay the taxes due the state that are really yours to pay along with his when he buys it.
- J E T H R OLv 71 decade ago
Yes you have to register it and put it in your name unless you have a dealers license. If you don't and just pass on the title on it is called title jumping and you can get in trouble from the dmv for that. Especially if someone or the buyer turns you in.