When doing a private sale, do you write receipt?

[NHHEMI]

Originally Posted By: javacontour


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.


YUP ^

Only way to protect yourself. I would never sell a vehicle to someone without a signed bill of sale indicating they had their chance to inspect it and that it is sold as is as seen with no warranty etc...

They sign, I sign, a witness signs, and we each get a copy. I actually keep a generic BOS on file I adjust to each vehicle.

I even go so far as to list serious issues I point out to the buyer such as rust or mechanical problems that might impact it's ability to be inspected, or that are safety concerns if driven, and such. I have sold a car that was not safe to drive the person said was for parts so I added a clause to the BOS stating it was sold as a parts car that wouldn't be driven due to reason XXX.

 

[Wylie6G72]

I don't bother with a bill of sale unless the new owner wants one, but with the Texas Presumptive Value in place, it's worthless in regard to paying taxes on the purchase.

I do ask for the buyer's name, address and phone number and walk straight to the computer and fill out a DMV form to transfer the license plate over to the new owner. In Texas, of you don't take this important CYA step, and the new owner drags his feet in registering the car in his name, you stand a good chance of getting a bill in the mail from the Tollway Authority for tolls accumulated by that license plate.

If you have toll roads near your city, don't wait to do this.

 

[RoadRaceJosh]

I get the buyer to sign a Bill-of-Sale. The last car I sold went through a toll and I got the bill. Without the Bill-of-Sale I would have been on the hook. I also found that a car I owned had been abandoned, towed and the tow company went to collections. The tow company was in a state where I used to live. The tow company ignored the Oregon plate that was on the car and tracked me down through the VIN. I had to go to the DMV to prove it wasn't my car when it was towed.

Bottom line is if your name is attached to the car you may be held responsible unless you can show you're no longer the legal owner.

 

[Nick1994]

This is the bill of sale I use on every car I sell. It says "as is" on it and I write "0" on the days they can take it to a mechanic. I don't get it notarized, not necessary. AZ doesn't require a bill of sale but I always use one to save my own butt. Just go to Google images and type in bill of sale, this one pops up about 10 down or so.

 

[Vern_in_IL]

Originally Posted By: Joshua_Skinner
I get the buyer to sign a Bill-of-Sale. The last car I sold went through a toll and I got the bill. Without the Bill-of-Sale I would have been on the hook. I also found that a car I owned had been abandoned, towed and the tow company went to collections. The tow company was in a state where I used to live. The tow company ignored the Oregon plate that was on the car and tracked me down through the VIN. I had to go to the DMV to prove it wasn't my car when it was towed.

Bottom line is if your name is attached to the car you may be held responsible unless you can show you're no longer the legal owner.



A completely hypothetical situation:

My neighbors are selling a car, needs some work, they have the OUT OF STATE title with the owners signature, but NOT DATED. They say it's their daughters car.

So you purchase the car, give them the money and sign the title, and date their portion that was conveniently omitted? (because you have to get a title transferred xxx days after a sale, so they simply signed but did not date)

Then you would surrender the title to the State, and nobody would be the wiser?

 

[Silverado12]

I have never put that much thought into selling or buying a car. In VA the title is the bill of sale. You put the amount the car sold for in the box on the title. If it sells for less than the book value (wholesale book), then that's when the bill of sale comes into play. I got one for the last car I bought (Mustang GT that needed a little work), but it wasn't notarized and the DMV took it no problems.

 

[RoadRaceJosh]

Originally Posted By: Vern_in_IL
Originally Posted By: Joshua_Skinner
I get the buyer to sign a Bill-of-Sale. The last car I sold went through a toll and I got the bill. Without the Bill-of-Sale I would have been on the hook. I also found that a car I owned had been abandoned, towed and the tow company went to collections. The tow company was in a state where I used to live. The tow company ignored the Oregon plate that was on the car and tracked me down through the VIN. I had to go to the DMV to prove it wasn't my car when it was towed.

Bottom line is if your name is attached to the car you may be held responsible unless you can show you're no longer the legal owner.



A completely hypothetical situation:

My neighbors are selling a car, needs some work, they have the OUT OF STATE title with the owners signature, but NOT DATED. They say it's their daughters car.

So you purchase the car, give them the money and sign the title, and date their portion that was conveniently omitted? (because you have to get a title transferred xxx days after a sale, so they simply signed but did not date)

Then you would surrender the title to the State, and nobody would be the wiser?


I would get a bill-of-sale from whomever accepts the money/has possession. If they committed a crime or got a parking ticket with the car you need to be able to show you didn't own the car until XX/XX/XXXX.