Can anyone share their experience when they sold their car. what's needed, requirements, and other things?

Question

the more details you can provide the better. and the better i can be prepared to sell. share with me your experience when you sold your beloved vehicle. the hassle's, the wait, the late payments, the papers needed. thanks to all who can contribute.

Answer 1

all you really need is the title... it has blanks where you fill everything out... when they go to register the vehicle in their name, they will pay the taxes then... i would not let someone make payments on the car because they may fail to do so... and if they wreck it, they might not pay... one of my biggest hassles was that people would test drive and then complain about the price or try to talk me down... they would say anything to get me to lower the price.....

Answer 2

Well if you sell it outright you need to do a couple of things.

1) Create a bill of sale... define the terms of sale and any warranty or promises you and the buyer make or expect. Both sign it.

2) Most states provide a transfer notice.. where the buyer fills it out and accepts the car.

3) Accept the money/payment and then sign over the pink slip/title to the buyer.

Now comes the tricky part.. until you notify the State, you are still responsible for that car unless you have something to that effect in the bill of sale. So.. if the buyer runs into a school bus full of small children and saintly nuns, YOU are going to be in a pot of trouble.. the safest thing is to do all three steps, AT the dmv so that title will be transferred right there. If not you have to work this out to both parties satisfaction.

NOW>. if you are selling the car on a payment plan, then you need to expand the bill of sale to include the total, the interest, payment dates, etc.. for that you should go find a pre-printed form, maybe from a car dealership, and copy the parts that are appropriate for what you are doing.

Then ... you sign off as the REGISTERED owner of the car but put your name back in as the LEGAL owner of the car and YOU take it to the DMV (same reasons).

They will give the registration papers to the buyer and YOU will get the new title.. which you will need to sign off and surrender once the car is paid for.

thats it in a small nutshell