When you sell or trade a car to a dealer and the car has no lien on it, does the seller have to sign the title along with record the price on the title? This is how it is done on a person to person sale but I was wondering if this for some reason doesnt apply to person to dealer.... because the dealer I just sold the car to didnt ask me to sign the title.
2007-01-13 14:34:02 · 3 answers · asked by Sean S 1 in Cars & Transportation ➔ Buying & Selling
The dealership didn't need you to sign the title because they did have you sign a power of attorney, which allows them to sign your name on the title. And no, you don't have to record a price, you do this when you sell to an individual so that the state can collect the proper amount of sales tax owed, but a dealer doesn't have to pay tax, they will collect tax when they resell the vehicle. (Unless they wholesale it)
2007-01-13 15:42:13 · answer #1 · answered by Erin P 2 · 0⤊ 0⤋
You either have to sign the Title, or a Power of Attorney.
If you did neither, the dealer will send you a Power of Attorney to sign, and that POA is only good for that vehicle.
You do not put in the price, for the dealer uses that same title (unless it is out of Re-assignment spaces) when the sale the vehicle.
2007-01-14 04:57:58 · answer #2 · answered by Robert S 3 · 0⤊ 0⤋
Yes, the seller must sign the title. If you traded a car without signing the title, expect a call from the dealer pretty soon.
2007-01-13 14:56:08 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋