Hey, I'm selling my truck, and had a question. As a seller, what do I have to do as far as laws go? I've never sold a vehicle. I'm sure it varies state to state (i'm in Michigan) but maybe y'all might be able to help. Besides canceling my insurance, I don't know what my responsibilities are.
cancelling insurance... keep the plates when you sell it... make sure you sign the title over... as far as laws... only thing that comes to mind is Lemon Laws... dont try to sell this thing without letting people know if there is something majorly wrong with it.. and dont ask way more than its worth... if it breaks down right away the buyer can sue depending on what the circumstance was
Thanks man. Truck's in pretty good shape and runs great, I just wasn't sure what I had to do, this being the only vehicle that I've owned.
Selling a car. It helps if you know a dodgy mechanic who can put back the clock.? highly illegal but you can soon make the bucks.
Dumb question time again: what do i do with the plates? Do i have to turn them in somewhere or anything?
jsut throw the plates away. in ohio, you gotta go to a notary with the title, both you AND the buyer, get it switched out, collect the money and there you go. then the buyer has to go to the title place, get it offically switched over, then get plates, insurance, all that.
If you sell it for over 2,000 dollars, you have to pay taxes on it and tell your tax accountant that you sold a car when you do your taxes next year. All that tax stuff kinda gets a little funky...
you can really tell the notary that the price was $1. or maybe even 0 but then you are responsible for covering your own ass and making sure you get paid right.
Exactly...and depending on what Secretary of State you go to, the only way they'll let you do that is if it's a family member...I don't know how to prove that, but...just thought I'd let you know
well, i got $1,700, I just didn't know if I had to do anything with the plates. And I don't think we in Michigan have to go to the Secretary of State for this, I know we didn't when we bought the truck, and I didn't do it today. I hope I'm not breaking any laws, haha.
In TX, you have to pay a gift tax if you are even given a car. It's sad when the government is even sticking its nose into private trade...
Well then I may be in trouble. But then, how come when we bought it 4 years ago the seller didn't have to go with us to sign it over? That is, he just signed it in his driveway and we handled the rest. That's what I did myself, yesterday.
in california you're liable for what the buyer does with it untill you sign off it and then you can't dun the s.o.b. cause you've basicly given it to him. their's some what to keep a lien title but i've never figgured out or understood how it works. that's one reason i look at owning the damd things as such a pain in sitter downer. that and maintainence and insurance. =^^= .../\...
i dont think theyre supposed to let you do that, but some of the notaries dont really care. ive heard of people doing it that way, then ive also heard of people getting in trouble for doing it that way. i guess it depends on how cool the notary is. also, ive only dealt with this kind of shit in ohio, so your state might be different
Yeah you're supposed to have a witness present when you sign it over...and sometimes, depends on the person at the Secretary of State, you have to do it in front of them. Because in order to really get the title in the buyers name, you have to go to the secretary of state to get it in their name...just by signing the back of a title...doesn't really do much...because it's still in the original owner's name in the database.
In normal states, you dont have to have it notarized when you sign it over. That's retarded. My one tip would be make sure you cancel the registration with the DMV before you cancel the insurance, or they will suspend your license without telling you. Then one day you are crusing along unknowingly, and you get arrested.
