Used Car Sales -- Important Final Steps



Used Car Sales -- Important Final Steps

You’ve finally sold your used car and you did it yourself.  Congratulations!!  But before you reach out for that official handshake with the proud new owner, make sure you’ve taken care of all the important final steps.

Start here to familiarize yourself with the policies in your state.  Everybody’s rules are different and frequently change.  As one example – some states expect sellers to hand over the tags with the car; others prohibit it.  Remember that the transaction isn’t official until your state decides it is.  It isn’t in your best interest to overlook a procedure that could make you liable for another person’s actions.  You’ll also want to get cash or a cashier’s check from the buyer before recording the final mileage and signing over the title.  If you still owe money on the car you’re selling, consider making the actual transaction at your bank or a DMV branch, so you can coordinate transfer of funds and legal ownership uneventfully.  And finally, when the sale is official, contact your insurance agent and remove your former car from your policy.