Question:
I am in the process of selling my car, I can get way more out of it this way than as a trade in. I'm pretty sure I've got a buyer, just need to do the most important part, comfirm payment method.
Who do car dealers use for their trade in valuations?
I know there are some things I need to do to get the car in the other persons name... but I don't know? How do I switch the title? What do I do for tax purposes? What else am I missing?
Whats the best coolest 4 door car for me ( i just turned 16 and im looking for one)?
Thanks!
Answers:
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i own a repair shop,and i sell a few vehicles from my shop once in a while,on the back of the title alll you have to do it sign and date it,and fill out al the part for the seller,and have them fill out there part for the buyer,i don't think this has to be notarized anymore,but all of this including how much they paid for it needs to be on there and that's it ,it will be out of your name and in there's,its really simple,good piece of advice don't take a check insist on cash,people can go off and call a bank and cancel a check,cash they cant,always insist on cash,because this is probably going to be from someone you don't know,so get cash,other than that,its really simple,make sure you have all you personal belongings out of it,and say good bye to it,good luck with it,i hope this help,s.Insist on cash. Don't give the title until the check clears, if you do take a check. Also, to transfer title, you can both go to the title bureau and sign title over in front of clerk who will tell you where to sign. I'm not sure about tax stuff, though. My husband sells vehicles in Ohio.
tax depends on the state. your local DMV has many of these questions.
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If you have a lein on the vehicle, it must be satisfied prior to transfer of title.
Get a bank check or cashier's check and cash it at the bank it was drawn on. Cash is still always good. Forget personal checks unless they are your best friend.
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Make a copy of the bill of sale with both parties signatures, terms of sale, and date can be hand written. Make sure the bill of sale clearly state it is sold AS IS and has the odometer reading listed on it. If the buyer takes off and puts his foot to the floor and blows up the engine, you don't want to be paying for a new engine. You do not want to be in the warranty business. Sell the car AS IS and move on.
In NYS we do not tax cars as personal property as in Maryland and Virginia, so you will have to look at the laws in your own state.
Close the Deal
Only you can decide how payment will be paid: by personal check; cash only; or cashier's check. It is always good form to mention your payment preference while setting up an appointment to see the car. In that way, if the buyer simply falls in love with your car on the spot, you will be able to finalize the transaction quickly―without any time lapse, confusion or embarrassment on the part of either party.
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If it hasn't been discussed before, now is the time to state your terms for the price of the car. Any negotiations should take place at this time. If you have given yourself a little cushion on your asking price, you can let the interested party take the lead. If they make a reasonable offer, be prepared to say yes. The art of negotiation is not easy for many people; take your time and listen to any offer. Counter offers by both the buyer and the seller are expected at this time in the process. Know beforehand what your bottom line amount is and don't get caught up in thinking that this will be the only person interested in buying your car. Should a potential buyer offer a ridiculously low amount, be prepared to thank them for their time and move along, but be sure to give them a card with your name and telephone number. After a cooling off period, they may reconsider and make a higher offer.
During this part of the deal is also the time to convey whether you will provide the buyer with any sort of warranty, or if the vehicle will be sold "as is." If the car is to be sold as is, be sure to write up a statement to that effect and have the buyer sign and date it for your records.
Sign on the Dotted Line
Before undertaking the sale of any vehicle, get informed. Learn what your state's requirements are for such documents as title transfer, smog certification, and possibly an odometer reading statement prior to advertising your car for sale. If there is any question as to the validity of any paperwork pertaining to your vehicle, a trip to the local Department of Motor Vehicles may be in order to have clear proof of ownership within arm's reach.
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In many states, both the seller and the new buyer have responsibilities during and after the transfer of a vehicle. Be sure to access the steps on title transfer in your own state by following the official site links provided to you at DMV.ORG. If you are informed about all the procedures necessary in your state, the sale will proceed more smoothly and the possibility of complications after the sale is greatly diminished.
After the Sale
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First, take a minute to celebrate. You have undertaken a procedure that can sometimes generate some level of stress and concern. If you have followed the steps outlined in this guide, and done your research before putting the car up for sale, it is likely that the transaction has been accomplished to the satisfaction of both you and the new owner. They are now the proud owners of a vehicle that will provide them safe transportation at a price they feel comfortable with, and you can make that bank deposit and begin shopping for the car of your dreams.
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