It is difficult to determine exactly what you need to do to complete a sale of a used car since laws vary from state to state. You can review specific laws DMV.org visiting the portal for links to your local department vehicle engine (or as your state authority is called). However, there are certain things you need to do when buying or selling a used car. This article looks at the final steps in the sales process to buy and sell a used car. Elsewhere I have given advice on how to inspect a used car, on how to conduct driving tests in used if you are the buyer cars, and how to prepare a used car for sale if you are the seller.
Buyer: most states require that you are insured before you can register your vehicle. It is important to contact your agent to make sure you can afford the vehicle insurance premiums and having the proper coverage.
Buyer: carefully inspect the title to make sure that the mileage recorded corresponds realistically with the car for sale. The mileage on the car you are buying should not be lower than in the title without any explanation. It is also necessary to ensure that the vehicle identification number matches the record and the used car you are buying.
Buyer: Ensure that the title is free of liens before handing over the money that much work it took to get. Embargoes usually appear in the title. The seller has to prove that the embargo no longer applies. If you have any questions, contact the owner of the embargo. The states do not issue securities impounded cars, but forged documents could lead to making a bad purchase.
Buyer: pending the inspection required by some states for used cars, may issue a temporary license plates for the used car you are buying. Laws vary from state to state. Do not expect the seller to allow use existing plates of the vehicle you are buying. In addition, you do not want any problem associated with the previous owner.
Buyer: most states require you to pay the sales tax associated with a purchase of a used car at the time of registration. In addition, states expect you to pay fair market value for the car and what’s not in the bill of sale, unless you can demonstrate why the car is worth less than market value. (Previously, owners and buyers could agree to reduce the value of a car on paper, so that the tax is lower sales. The seller charged full price, but put in writing an amount 50% below transaction price.)
Buyer: Echele a good look at the car again before taking possession of it. You may find important elements that belong to the seller, including documents you may need. No need to incriminate him without reason. You can not keep goods just found. The seller is only selling the car and all its contents.