After buying a used car from an owner, is there a law (in the USA) in which I have to wait a certain time period before I can sell it?
Please only answer if you know.
2007-07-06 10:48:13 · 8 answers · asked by smuckers 2 in Cars & Transportation ➔ Buying & Selling
You will need to have the vehicle titled in your name. As soon as that is done and you have the title in your possession, you can sell the vehicle.
Some states have laws limiting the number of vehicles you can sell within a year, unless you are a licensed dealer. Be aware of these limits, so that you do not find yourself in trouble!
2007-07-06 11:04:42 · answer #1 · answered by fire4511 7 · 2⤊ 0⤋
As long as you hold the title to the car you can sell it. How long that title transfer takes all depends on where you live. Every State is different.
2007-07-06 10:52:23 · answer #2 · answered by mccoyblues 7 · 1⤊ 0⤋
Well there is no law, but untill the title comes back and now shows on the title that you own it outright, it could be construided that you dont own it. There fore you cant really sell what the law takes as what you dont leagle own.
2007-07-06 10:55:57 · answer #3 · answered by goldwing127959 6 · 1⤊ 0⤋
no. If you have a buyer then sell the sucker. If you have the title that was signed by you and the previous owner just sign it again with the new buyer and let them send it off to get the new one in there name. If you sent the title off already then you will have to wait until you recieve it.
2007-07-06 10:53:28 · answer #4 · answered by Anonymous · 0⤊ 1⤋
You may sell the car as soon as you get the title.
2007-07-06 10:52:29 · answer #5 · answered by Anonymous · 1⤊ 0⤋
Use a private lender (get your own fincancing) and dont settle. If they really want to make the sale they will bend (within their power) to make the deal. Oh and if you are putting any money down DONT TELL THEM UNTIL YOU GET THEIR BEST PRICE>
2016-05-20 00:54:35 · answer #6 · answered by Anonymous · 0⤊ 0⤋
NO. Never heard of any law, anywhere.
2007-07-06 10:51:52 · answer #7 · answered by gino 3 · 0⤊ 1⤋
NO.
2007-07-06 10:50:32 · answer #8 · answered by Anonymous · 0⤊ 1⤋