What steps need to be taken to sell a used car privately?

Question

I am selling an old car for about $2,000. Besides signing over the title and exchanging cash funds, what else needs to be done? Do we need a notary? Do we need to go do anything at the bank?

Or is this just as simple as signing a piece of paper and exchanging cash?

Thanks!

Answer 1

Write out a detailed Bill of Sale noting the condition of the car and all pertinent information regarding the car you are selling.

Make, model, VIN, age, miles, color, price etc.

A warranty/guarantee statement is very important.  Unless you want legal problems, make no claim to any guarantee or return policy. Car is sold as is. Cash only, paid in full gets title.

Answer 2

The most important thing is get CASH (not check, not money order, etc.).  If the seller wants to give you something else, the only other thing acceptable would be bank check (cashier's check) that YOU WENT WITH the buyer and you saw him buy at the bank.  That way you know he didn't just print it up on some color printer.

Another thing is that you might want to get a copy of the buyer's driver's license (or some ID).  In some states, you keep your plates (like NYS).  Some other states you give the plates (like Cali).  So check with your DMV - and find what to do with the plates..

Good Luck...

Answer 3

Yes, you need to get it notarized by a 3rd party. Places like mail box stores provide notary services.

Also, before you sell the car, you may have to get smog check. This may vary from state to state but in California, this is a law. The seller has to get smog check prior to transfer of title on the vehicle. Check with the DMV in your state and see what the requirement is.

Another thing is to make Bill of Sale and on it, both the buyer and the seller must sign. Make sure to make 2 copies, one for yourself and the other for the buyer. You can search online for bill of sale. Just print them out.

things you need:

-title

-smog check report (if necessary) <-seller's responsibility

-notary

-bill of sale

*only accept cashier's check or cash

Good luck.