However, your screwed. When you go to the MTO and show the bill of sale and all that jazz, if the car is older then 19yrs, then you will need to have an appraisal in order to transferr the car to your name, which I think is b.s.
Depending on how well you are with talking/bargaining, they may issue you with an old school 10 day permit (the one that you stick in your window) and then once you have the car home, you will need to get it appraised in order to legally transferr ownership. Thats what happened to me when I had to get the S13 on the road.
And with you being insured, just make sure you write down your policy number, EVEN if your not insured anymore, just write it down and your good to go, they never check.
GL