Cars for Sale and the Title Transfer
By Hanna Nilson
If youíve ever had cars
for sale, privately
or without the use of a dealership, than youíve most likely heard
the question ďIs the Title clean?Ē As the seller of a used car, it
is crucial that you keep track of the car Title transfer.
From start to finish; throughout the entire
duration of your car selling operation, it is the car owner or sellerís
responsibility to manage the car Title transfer. If this is your first time
selling a car privately, you may want to consider the following
guidelines in addition to some extra research on car Titles and car
Remember, as it is with any large investment, keeping track of
details, such as the car title transfer, is the best way to make sure
that all bases are covered. This will ensure a smooth and secure
selling transaction for both the seller and the buyer.
Buying a Used Car with
How to Find Actual
Before you get started, itís important to be
aware of the car title status. If you are selling a car with an
unpaid loan, this means that your bank or financial company still
owns the Title to your car. You cannot legally sell your car without
a clear title. In order to clear the Title, you should clear your
debt. Accordingly, the bank will only clear the title when the money
owned it reimbursed.
As the buyer of a used car, it is required that
you not only submit a Title Transfer application, but depending on
your state's regulations, you might also have to provide an Odometer
Reading, a Vehicle Identification Number (VIN), and a
Bill of Sale.
To find out more information about this process, contact your loan
provider and they will guide you through this process as needed.
At any rate, if youíre the legal owner of the
used car for sale and youíve paid off all debt on your car which
means that the title is up-to-date and in your possession, then you
are good to go!
Car Title Transfer: The Car Title
is a note of vehicle ownership. Hence, a car Transfer application
form us used when you are in
the business of passing-on ownership of the used car. If youíre
transferring the car Title for a vehicle that you still owe money
for, you may want to conclude the sale at the bank where the title
is held. Contact your bank or financial lending company ahead of
time and have them prepare the car Title Transfer. Then, once the payment has
been exchanged between the buyer and seller, the bank loan can be
paid-off. Finally, the car title may be signed and transferred to
the new buyer.
On the other hand, in some cases, an out-of-state bank might hold
the title to your car. It is then recommended that you go with the
buyer to your local DMV where you can request a Temporary Operating
Permit based on the Bill of Sale. After you pay off the balance of
your loan with the payment from the car sale, have the title mailed.
Lastly, have the Title Transfer signed over to the new owner and the transaction is
Sale and the Bill of Sale
for Sale and Driving Records
your Cars for Sale
for Sale and the Release of Liability