Selling Car, have questions

[Donald]

Make sure you keep a copy of the title after signed by both parties. Or write up duplicate bill of sales with VIN and each party signs both and each keeps a copy.

Driving back without tags is not a great idea.

Accept cash only.

 

[Wolf359]

Originally Posted By: MONKEYMAN
I am scanning the back of the title with my eyes and can barely read the thing. The print is smallish and not very dark against a light green background. My Sherlock Holmes magnifying glass sure came in handy.

I plan to pre fill out the part of the forms I need to do but the skip date, etc in case something goes south. That is the part that I tend to stumble on.


I'd wait til he actually shows up to start filling things out. Lots of people no show. It's a craigslist standard, maybe 1 in 3 don't actually show up.

 

[JimPghPA]

Find out what the hours are at a large near by notary, and tell the buyer that you will be taking them to the local notary so they can witness the signing over the title, and have them call their insurance company in front of the notary and verify that the vehicle is added to their policy. Since you both live in the same state they can make out a check to the state for the sales tax and have the notary process it. The notary can supply them with a temporary plate and do the paper work for them for their permanent plate. They have to have proof of paying the sales tax before the state will sell them their permanent plate, so it is good for them to process the payment of sales tax check at the notary. The notary can witness you signing (releasing) the title and will show you where to sign the title. In some states the notary will issue you a form that proves you are no longer responsible for the vehicle, so if the vehicle gets into any accident you are not held libel.

Finally, be aware that while it is possible to sell a car to a minor (find out from the notary what age limits are considered a minor) if you sell a car to a minor you are leaving your self open to a lot of liability should they ever get into any accident, and a minor can come back at you later and say you had no business selling to a minor and demand their money back and return the vehicle to you even if it has been in an accident. The bottom line is NEVER SELL ANYTHING TO A MINOR. If they are under age demand that they get an adult to purchase the vehicle in the adults name.

 

[JMJNet]

I am not sure if this is covered but you may want to create a Bill of Sale document with the term and condition of the sale like "AS-IS" and you and your insurance are not liable of any accident after the car is in the buyer hand.

There are cases when the buyer drive the car after they buy it and got into an accident, etc.
If they don't have insurance and yours is obviously still covering the car, you may end up liable to cover it under your insurance.

Just a thought.

 

[MONKEYMAN]

OK. We talked. He understood it was $250 cash. His sons are excited. Dad is looking forward to the aluminium rims for his car. We talked Saturn for a while. He passed that test. Discussed insurance and tags. He likes cats. That is good. I like them also.

Now there is some good news and bad news. The good news is he is a Mobil 1 Junkie. That is all he is going to put in the Saturn. Now the bad news. I have a ton of oil to get rid of.

Or, maybe I have that reversed? Once I get the car sorted out I will inventory and take pictures of my oil stash. I will post a for sale on BITOG. I was thinking the ideal place to do an oil transaction is in the Jiffy Lube parking lot (just kidding, sort of).

Thanks again for the help!!!

 

[doitmyself]

You may want to call your DMV and make sure you cover all the details. Each state is different.

I have sold junkers/parts cars and often people ask if they can skip signing the title for one reason or another. I imagine they have something up their sleeve.

On my last experience, even though I thought everything was done correctly, the guy that bought the car took it home, installed plates from another vehicle, and never completed the registration process at the DMV. When his mother tried to do something with the car (insurance,sell, etc.) it came back still registered to ME. It was probably being driven uninsured, fake plates, and not registered. I talked to a lawyer about the situation and they said that since I had a bill of sale, I was off the hook regarding liability if the car had been in an accident. But, it did give me a scare.

Yes, check with your DMV and make sure everything is done correctly in YOUR state.

 

[MONKEYMAN]

Originally Posted By: doitmyself
You may want to call your DMV and make sure you cover all the details. Each state is different.

I have sold junkers/parts cars and often people ask if they can skip signing the title for one reason or another. I imagine they have something up their sleeve.

On my last experience, even though I thought everything was done correctly, the guy that bought the car took it home, installed plates from another vehicle, and never completed the registration process at the DMV. When his mother tried to do something with the car (insurance,sell, etc.) it came back still registered to ME. It was probably being driven uninsured, fake plates, and not registered. I talked to a lawyer about the situation and they said that since I had a bill of sale, I was off the hook regarding liability if the car had been in an accident. But, it did give me a scare.

Yes, check with your DMV and make sure everything is done correctly in YOUR state.


I will check. Should be at DMV getting tags for Elantra. The Notice of Transfer of Sale form I am required to submit does require the license number of the purchaser in addition to name, signature, and date of birth. It seems like that form will protect me.

He is going to get insurance. He is a business owner for 17 years. So he would not be hard to look up.

In 2003 I traded in a 1992 B2600i Mazda pick-up when getting the Saturn. Later I got a letter from the State that I did not have required insurance on the truck. Apparently, the dealership did not report that I sold it.

I will make sure the Title is filled out before I take a picture of it.

 

[Leo99]

Did the deal go down smoothly?

 

[MONKEYMAN]

Originally Posted By: Leo99
Did the deal go down smoothly?


It will be Sunday around 10 am.

When I was at DMV getting tags for my Elantra I had to wait and read the rules for Missouri and sale of car. If title is not filled out it could be $200 fine up to $300. Also I asked for guidance and the DMV staff printed out a form so I could get tax money back I paid on my Saturn (which is not much). Form 426.

So, I feel I am pretty good shape. Just washed the car and took it out for a spin. So the car is ready. Just need to fill in some paperwork ahead of time since I am slow in that area. All the responses have helped me mentally prepare and consider things I would not have known.

 

[MONKEYMAN]

The Saturn is gone. The transaction went very smooth. The new owner appreciated all the detailed maintenance I did to the car. I did struggle filling out the forms. But, that is my normal. I got through it.

I appreciate all the guidance. I read a lot of posts on this forum, but do not post much. I have learned a lot here. I find there are some mature, knowledgeable and smart members at BITOG. I need all the help I can get. Thanks again!

 

[eljefino]

Originally Posted By: JimPghPA


Finally, be aware that while it is possible to sell a car to a minor (find out from the notary what age limits are considered a minor) if you sell a car to a minor you are leaving your self open to a lot of liability should they ever get into any accident


Interestingly, my state requires the parent to co-sign a title application as well as a registration app/renewal if the registrant is under 18.

IDK how many states are like this, and IANAL, but the parent signing for the car implies their consent to the purchase.

MO sounds like a pretty strict state, what with fining sellers for not completely filling out the title. But at least they have your back with the "notice of sale" form. My state has them; I've never used one nor do I know of anyone who has.

The #1 reason for buyer wanting an incomplete title is they'll flip the car and not pay tax, something MO is trying to avoid. IMO states that want buyer and seller to sign in front of a notary just want a roadblock to these shenanigans.

 

[MONKEYMAN]

He was 22. Title was completely filled out and I took a picture of it. Plus I have the form to send in the his date of birth, driver's license number, and signature to mail.

I work with Medicaid so if it says to fill out a form I do it. In my field of work if you don't, you get an action step from Regional Center, then a supervisor, manager, or director bent out of shape. Sooner or later you are going to have to fill out the form or comply with some sort of procedure. I do it sooner.

When I sold my stepfather's car to his caretaker's father she said I did not have to get a safety inspection. That is not what the State of Missouri says, but sounded more like what she was used to.

I tend to get things mixed with my dyslexic mind. The fine for failure to report the sale of a vehicle:

"A seller who fails to report the sale of a required vehicle is guilty of an infraction and subject to a fine of up to $200.

If the failure to report the sale was done to assist the purchaser avoid apply for title, paying applicable registration fees, or other fraudulent purposes, the seller shall be guilty of a class C misdemeanour and subject to a fine of up to $300. Prompt notification will help protect you from possible liability".

I will mail that form tomorrow.