Originally Posted by NormanBuntz
Originally Posted by opus1
I've also heard that you want to do the transaction at the DMV/BMV and make sure that the new owner applies for a new title then and there. Until that's done, as far as the state is concerned, the car is still yours.
Personal experience: Dad sold a car private party and 2 weeks later got a call from a neighboring town's PD warning him that if he didn't remove "his" car from a parking lot at one of the businesses there, they'd impound it as an abandoned vehicle.
This is why you get the buyer's drivers license information, have a detailed and signed bill of sale, retrieve your license plates, cancel your insurance and notify your DMV of the vehicle sale. Then let the PD impound the moron's vehicle.
I did all these things except go to DMV never again. Guy never completed transaction and got pulled over for no plates and went to jail. What did I get was a call that storage fees were adding up that I would have to pay which I said no I know longer own it. Low and behold I go to renew license I have a flag for no insurance and storage fees so I go get my copies and got fees off storage but still had to pay 350.00 cause insurance was dropped without vehicle being legally out of my name. If I sale another we can go DMV or title place before he leaves with vehicle and I have copies.
Originally Posted by opus1
I've also heard that you want to do the transaction at the DMV/BMV and make sure that the new owner applies for a new title then and there. Until that's done, as far as the state is concerned, the car is still yours.
Personal experience: Dad sold a car private party and 2 weeks later got a call from a neighboring town's PD warning him that if he didn't remove "his" car from a parking lot at one of the businesses there, they'd impound it as an abandoned vehicle.
This is why you get the buyer's drivers license information, have a detailed and signed bill of sale, retrieve your license plates, cancel your insurance and notify your DMV of the vehicle sale. Then let the PD impound the moron's vehicle.
I did all these things except go to DMV never again. Guy never completed transaction and got pulled over for no plates and went to jail. What did I get was a call that storage fees were adding up that I would have to pay which I said no I know longer own it. Low and behold I go to renew license I have a flag for no insurance and storage fees so I go get my copies and got fees off storage but still had to pay 350.00 cause insurance was dropped without vehicle being legally out of my name. If I sale another we can go DMV or title place before he leaves with vehicle and I have copies.