How often you have to pay for your greenslip depends on how often you pay for registration. This is because the period of your greenslip has to match the period of registration.
What are registration periods?
In NSW, you can register a vehicle for 6 or 12 months only. If you own a heavy vehicle, you have the extra option of 3 months.
The period of your greenslip must match the registration period. This means you must pay for a 6 or 12-month greenslip, except for heavy vehicle owners, who can also get 3-month greenslips.
Car dealers in NSW are allowed to sell a used car that is registered for 3, 6 or 12 months. There are no signs the NSW government plans to offer shorter registration periods for all vehicle owners.
When you must register for 12 months
On some occasions you have no choice but to register for 12 months:
- The first registration of a vehicle
- If you renew registration more than 21 days after your 12-month renewal was due
- If you renew registration more than 21 days after your 6-month renewal was due
- Registration of a vehicle requiring a blue slip (a vehicle being transferred from interstate or with a cancelled registration).
If you have just moved to NSW, you will need to start a new registration and this has to be for 12 months initially.
When does registration expire?
Registration expires at midnight on the day before the renewal date printed on your renewal form. For example, if you first registered your new Toyota on 30 June 2020, registration expires at midnight on 29 June 2021.
Many people ask if they can change their registration period before renewal time, to help with cash flow. Unfortunately, you can’t switch to a different registration period until it’s time for renewal. For example, you can switch to a 6-month renewal period once the first registration period of 12 months for your new Toyota has expired.
What are the benefits of 6 months registration?
The primary benefit of choosing 6 months is cash flow. The cost of two greenslips
is not much more than one greenslip over the year.
Note, even if you choose 6 months registration, you need a pink slip only once a year.
What about registration if I buy or sell a car?
If you sell or buy a registered car, the greenslip automatically transfers with the registration to the new owner. The price someone pays for the car includes registration and a greenslip because it can’t be registered without a greenslip.
When you buy or sell a car, you must notify Service NSW about the transfer of ownership. It notifies the greenslip insurer that ownership was transferred. When it’s time to re-register that car, the greenslip renewal will reflect the new owner’s details.
When you sell your car, you can’t get a refund on your greenslip. This is because the greenslip remains on the car you sold. However, you can get a refund of any unused greenslip period if you cancel the registration on your car. In this case, you must show proof from Service NSW of cancelled registration and your greenslip insurer will give a pro rata refund less costs.
Last words
In NSW, you can register a vehicle for 6 or 12 months only. If you own a heavy vehicle, you have the extra option of 3 months. The period of the greenslip must match the period of registration. There are times when you must pay for a greenslip and register for 12 months. When you buy or sell a car, registration and greenslip transfers to the new owner.
Get prices for 6 and 12 month greenslips here.
Have you ever wondered why you need a green slip? Do you know what your green slip covers and doesn’t cover? Do all insurers offer the same green slip? These are all good questions you ask that greenslips.com.au will answer.
This is the seventh article in our 8-part series, How greenslip insurance works. See article 6. How do I compare greenslip prices?
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