My neighboor is selling a car for $500.00 and I know it runs because I have seen them drive it for the past two years and lately back and forth from work. What Do I need to make sure of so that I can buy it, do I need tittle etc. Help!!!???
2007-06-01 06:56:45 · 9 answers · asked by Daydreamin' 4 in Cars & Transportation ➔ Buying & Selling
You'll need the following:
1. Bill of Sale (forms available online or at your local DMV).
2. The title signed over to you. Make sure there is no lienholder on the title. That's usually in a separate section titled Lienholder.
3. Money to pay the registration fees and tax.
4. Depending on where you live, you may need an emissions test and certificate.
5. To get insurance on it and you.
That's pretty much it.
2007-06-01 10:12:03 · answer #1 · answered by Uncle Pennybags 7 · 0⤊ 0⤋
They will sign the back of their title and you will take it to the motor vehicle department to transfer the title to you. They will probably sell you the car "as is" either in writing or verbal agreement meaning no matter what happens to the car once you buy it, it's yours with no gaurantees. They will remove the license plates and you will get new plates from the DMV but you'll have to pass the state mechanical inspections and emissions tests. Realize that the day you buy it, it may need $2500 of repairs to get it on the road and drive it daily. You could ask them nicely if they would mind if you got the car state inspected before you purchase it to see if you can afford all the repairs necessary to transfer the title to you.
2007-06-01 07:05:24 · answer #2 · answered by bobweb 7 · 0⤊ 0⤋
Yes, you need to receive the title, if you purchase the car. For 500dollars, as long as it runs good, it seems there would be nothing else left to say about it. Have the seller release interest on the title, give you a bill of sale, and then you can transfer title to your name. If emission testing is required in your area, you may want to make sure the car can pass.
2007-06-01 07:34:34 · answer #3 · answered by fisherwoman 6 · 0⤊ 0⤋
A running, good condition car for $500 is a good buy. I find that I can buy them and usually resell them for $1500-$2000...always be preparred to do a little work, but remember...it is only a $500 car! Don't expect perfection!
Get the title and a signed bill of sale. That should be all you need. If you are still unsure, contact your local bureau of motor vehicle...after all they are the ones you will talk to in order to get plates!
2007-06-04 11:18:12 · answer #4 · answered by stevenmlaureys 2 · 0⤊ 0⤋
If you want to buy the car, you should draw up a bill of sale and have him sign the title over to you. First, make sure that the title is clear of any liens and is in his name. Take the title and bill of sale to the DMV and register the car in your name. You will probably need to pay sales tax on the car.
2007-06-01 07:00:55 · answer #5 · answered by Jay P 7 · 0⤊ 0⤋
Make sure there is no oil leak and it runs fine.The miles is also something you might wanna check.
Also,check for any noises as you drive or anything you need to do before you drive.
Check for scratches and such,and the battery,also have a test drive and if you care for any stains check for it.
Go to the auto store and dealership for a inspection and so they can hand the title of the car unto you.
You don't wanna get caught for stealing a car.
2007-06-01 07:06:55 · answer #6 · answered by Anonymous · 0⤊ 0⤋
You should take it to your own mechanic and have the engine looked at. But for $500 you shouldn't expect a lot. He should give you the papers to the car, the 'pink slip' of ownership, then go to the DMV and have the title transferred to your name.
2007-06-01 07:05:04 · answer #7 · answered by jrwny 2 · 0⤊ 0⤋
You need a bill or sale, a title that is free of liens, and you should have the car inspected regardless of how well you think it runs.
2007-06-01 07:32:58 · answer #8 · answered by Anonymous · 0⤊ 0⤋
What kind of car is!
2007-06-01 07:00:08 · answer #9 · answered by Anonymous · 0⤊ 0⤋