Buying a car from a friend questions?

Question

I'm buying a 2000 daewoo from a friends wife. I just need a simple car to get back and forth to work with. I'm buying it for 950 dollars.
My question is that i have the money right now, But do i need to get insurance on the car first? before i go to the court house to transfer it into my name? and also, how much will this transfer cost?
Is there anything else I need to buy the day of? such as plates or anything?
thanks

Answer 1

You need to have an insurance policy before you can get the liscense. Get those taken care of and you can handle everything at once. The title and liscensing fee varies from place to place. Here, it would be a total of about $300, including taxes.

Answer 2

If you go to the bank that you have an account with, you should be able to get them to noterise the title transfer for free (you and the current title holder will both have to be present). Then, you'll need to immediately take the car to register it with the DMV, you'll need proof of ID (most places require a SS Card, Birth Cirtificate, Etc in addition to a drivers lisence) when you go there, you'll have to provide proof of insurance.

Just some advice, if the car is that inexpensive (and I realize this is a friend selling it to you so you probably trust them) you should ask if they wouldn't mind you brining the car to a shop for an inspection (you know, just in case).

The DMV will give you temproary plates until your new ones come in, or you can transfer your tags from your previos car (if you had one).

Good luck, enjoy your new car!

Answer 3

Your current insurance covers this car for couple of days. Transferring the title is different from state-to-state. The plates stay the same. Lastly. Are you sure you want a Daewoo?

Answer 4

Yes. States require you to have insurance and will want proof before you can register it. Have your insurance agent fax you a letter stating the policy number and the VIN number of the car you are buying. You'll need a clear title on the car with no liens. If there is a lien, you'll need to get it removed and filed at the
DVM or county court house which ever one handles it. Proof of identification, possibly both buyer and seller.

Answer 5

Yes you will need insurance and then you have 30 days to transfer the title into your name and then the tag if it is still valid will be transfered into your name and then you will pay a sales taxes for purchasing the car. that is our state way now every state has different policies so you might want to say what state you are from

Answer 6

A good place to find information regarding the state regulations for buying/selling a car specific to your particular state on this web site. It will also then explain how you can go about registering and transferring the title to your name.

http://www.dmv.org/state-regulations.php

Answer 7

He should have the title to the car already. This indicates that he doesn't owe money on it.

Make sure he doesn't owe money on it or else you are literally buying stolen property. Most states require insurance and most insurance cos will give provisional insurance until the care is successfully transfered to you. Talk to your insurance salesman.

Answer 8

Where I live if your just transferring the title no. If your going to register the thing. You bet.

Answer 9

ok, first of all, you decide on the call. The pal could desire to have it. He has to deliver it to you or you would be unable to sell it. he will could desire to sign the back of it asserting which you very own the vehicle. in case you decide on for to bypass a step, he may even sign it over on your brother after which you will basically help to sign in it on your brother's call, insure it and sign in it in his call. If it fairly is properly worth $500 then it should not be a great price.