When doing a private sale, do you write receipt?

[Vern_in_IL]

Most car sales I've done with individuals, you just hand over money and they give you the signed title.

The last clunker I bought (to fix up) the lady (a registered notary public) wanted to copy my drivers license and wrote up a signed receipt of the sale.

 

[KrisZ]

If you want it for filing your tax report, then yes, some sort of a receipt would be normal. Personally I only write up the sale's agreement stating that the vehicle is sold "as is" and that it was paid in full. That's it.

 

[AirgunSavant]

Yep..... "AS IS"
Originally Posted By: KrisZ
If you want it for filing your tax report, then yes, some sort of a receipt would be normal. Personally I only write up the sale's agreement stating that the vehicle is sold "as is" and that it was paid in full. That's it.

 

[SatinSilver]

Kind of different about copying your DL esp if paying by cash. Although if the cash were counterfeit then she would have your info to give to the secret service. Is your soc sec # on the DL by chance?

 

[splinter]

Yes. Both ways. For vehicles and firearms.

And then I notify the appropriate authorities that they're no longer my responsibility or liability.

www.dmv.ca.gov/portal/dmv/detail/pubs/brochures/reg/nrl

 

[SwampSurvivor]

In NY you have to do bill of sale

 

[Chris142]

Have to in ca

 

[javacontour]

Originally Posted By: AirgunSavant
Yep..... "AS IS"
Originally Posted By: KrisZ
If you want it for filing your tax report, then yes, some sort of a receipt would be normal. Personally I only write up the sale's agreement stating that the vehicle is sold "as is" and that it was paid in full. That's it.


Yep, I write a receipt that says as-is, where is and that the buy was given the opportunity to inspect or have inspected by a professional before purchase.

No warranty, no insurance, etc....

VIN, amount exchanged, clear title conveyed to buyer....

Signed by buyer and me. He/she gets a copy as do I.

 

[Padawan]

I always make two copies of a bill of sale including the vehicle details, price/payment details, and an "as is" statement. We sign both copies, and each of us keeps one.

I'd never buy or sell a vehicle via a private party transaction without one.

 

[Gebo]

Always do a "Bill of Sale" with the "AS IS" wording. I found a formatted "Bill of sale" by googling. Make sure the Buyer signs it and everyone has a copy. I just bring 2 originals and we sign both copies. Also, it has the mileage the moment it was sold, which could be helpful if an accident were to happen when they were driving out of the parking lot. I call my agent and cancel the insurance that day.

I never let them use my tags to get home. We go to the bank to cash any checks. IF it is a cash deal, I never go alone. Never... and I always carry my little buddy in my pocket and meet in a place where there are cameras...Walmart.

 

[mrsilv04]

I put it IN WRITING that the vehicle is "AS IS", and I disclose any known issues. Also include mileage, date, etc.

Both parties sign it, and both parties get a copy.

 

[Doog]

Always an "as is" sale contract for anything. Boats, cars, firearms, real estate, furniture, motorcycles, tools, machinery...you name it. Otherwise you leave yourself open for the "lawsuit guy" who claims there is an implied warranty.

 

[doitmyself]

There are lots of excellent examples that you can print off by Googling Car Sales Receipts (images). I pick a simple one that has just the minimum information required.

DO NOT MAKE THE DUMB MISTAKE I MADE ON MY LAST PRIVATE SALE. The buyer never completed the transaction at our DMV. He illegally transferred license plates from another vehicle to the van and then gave it to his elderly mother. When she tried to sell it 3 years later, a red flag showed up at DMV indicating I still owned it!

Some told me that had she been in an accident, I could have been liable. My lawyer told me that because I had a receipt, I was in the clear. I had to go in to the DMV with the (very nice) elderly woman and complete the transfer. She said she was going make her son regret this!.

It's probably best to complete the sale at the DMV office. I imagine each state may have different regulations. Call your DMV to find out.

 

[opus1]

Haven't sold many vehicles privately, but yes, I wrote a receipt making sure the make, model, VIN, Dollar amount received, and "AS-IS, NO Warranty" was on it.

 

[Pop_Rivit]

Always. Not doing so would be downright foolish. Not only with the buyer and seller names, VIN, title number, mileage, and "as is", but also with the date/time the transaction took place.

My dad once sold a pickup to a fellow who managed to get into an accident about 3 hours after he bought it. Having the receipt with both the date and the time absolved my dad from any responsibility, since the ownership of the vehicle had clearly been transferred 3 hours before the accident.

Another case, in the days when license plates were not removed when the vehicle was sold, the buyer never transferred the title and the vehicle was involved in a hit-and-run several months after the sale. The plates were traced back to my uncle (the seller), but the receipt was proof enough that it had been sold well before the incident.

 

[supton]

Originally Posted By: Pop_Rivit
Having the receipt with both the date and the time absolved my dad from any responsibility, since the ownership of the vehicle had clearly been transferred 3 hours before the accident.


First I've heard of timestamping the receipt! Never thought of doing that, I'll have to think of doing that in the future.

I just do bill of sale (two copies, one for me and one for them), sign the title and remove the plates. My last camper purchase the seller did allow me to use their plate to tow home with (and I gratefully returned the plate promptly the following day); but I wouldn't do that for a motor vehicle, as a seller or buyer I think, not unless if it was well-trusted family.

NH doesn't do titles for '99 and older, not sure how that will work in the future. I think in order to avoid a VIN inspection a buyer might want an old copy of the registration, and I'm not sure I'd hand that over (it's not exactly that hard to deal with a VIN inspection, cop shows up and fills out a paper, but I recall it took a couple of days to arrange it).

 

[bubbatime]

I once bought a car and met the guy at the DMV. Both of us went in, signed the paperwork, and registered the car right there. Put the license plate on the car in the parking lot and drove home. Best way to do it in my opinion, as car is registered and insured before I even drove it.

 

[Kira]

Great thread.

I take the money, sign the title over (which includes a line for mileage) and write a Bill of Sale which includes "This vehicle is sold AS IS" and that "All damage has been seen and acknowledged by the buyer".

I love the "time stamp" idea and both parties signing.

The trouble two copies is that a buyer might want to list the price of a $2,000 car as $400 for tax purposes.

Then I drive it to their home, remove the plates and they give me a ride home.

In the case of the NYC guy who bought my car, a ride to the subway was good enough.

 

[MNgopher]

As far as the state is concerned here, the only legal document required in a sale is the title transfer.

That being said, I always execute a bill of sale, as is, no warranties, etc... Essentially ends up being the same document you'd execute at a dealer. Figure it covers me in the event someone ever tries to take it small claims court, etc...

 

[JTK]

Originally Posted By: doitmyself
There are lots of excellent examples that you can print off by Googling Car Sales Receipts (images). I pick a simple one that has just the minimum information required.


That's exactly what I did years go, the 2-3x I sold a vehicle privately.