Selling Or Trading A Car: What Do You Need To Know
You dont need to do anything when selling a car to a dealership or trading it in as part of the transaction for acquiring another vehicle. Whether you own a clear title or your title has a lienholder, the dealership will handle any title issues.
Selling your car to another private individual, however, requires some effort from you. If youve satisfied the vehicle loan and have a free-and-clear title, you only need to fill in the transfer information. This includes you and the buyer signing in the appropriate places. Both parties should keep a copy.
Note: Some states require the signatures to be notarized. As part of this transaction, you will also need a bill of sale. You and the buyer should keep copies with the signatures of both parties. Unless you know the buyer, accept only cash or a cashiers check as payment.
If you still owe money on the vehicle and a lien is on the title, things just got more complicated. The lender will want the loan paid off to release the lien. At this point, the easiest way forward is to complete the entire transaction at the lenders offices. If its a local bank or credit union, everything can be done right then and there. You will need to make arrangements with your lender.
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Buying A New Car: What Happens To The Title
In terms of a title, buying a new car is a no-brainer. The dealer takes care of all things title-related. You will pay whatever fees are involved, but the dealer deals with the paperwork.
When you buy a car, you either pay cash, lease, or finance. Only when you pay cash will you receive the original title. And, processing it might take as long as 30 days. Leasing a car is glorified renting. You never receive the actual title because the car never belongs to you.
When you finance a vehicle, you will receive a copy of the title within 90 days. It will identify the lender as a lienholder. When youve paid the loan in full, you will receive the actual title reflecting you as the owner free and clear.
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How Do You Transfer The Title Of A Car
To transfer a car title, the seller needs to sign the title and fill out any required information. The buyer can then take the signed title to the appropriate government office to transfer the car title into their name. If there is a lien on the vehicle, then the lender will usually need to sign an affidavit as well.
How Do I Remove A Lien From My Ny Title And Get A Clear Title
When you have paid your loan in full, the lienholder must promptly send you a proof of lien satisfaction called a “lien release.” This is usually a Notice of Recorded Lien , marked and endorsed by the lender proving payment. It might also be a letter on the lender’s stationery identifying the borrower’s name, the vehicle by make, year and vehicle identification number, certifying the date of full payment and release of the security interest, and signed by an officer of the lending institution. Keep this lien release. You will need to give it to a buyer, along with your title certificate, when you transfer ownership. The DMV will accept only the signed, original release.
You also may request the DMV Title Bureau to remove the lien from your New York State issued title by mailing the original lien release form or letter, the original title certificate, and a check or money order for $20 payable to the Commissioner of Motor Vehicles. Photocopies are not accepted.
If your address has changed since the title was issued, send proof of your current address . A new title certificate that does not indicate the lien will be promptly processed and mailed to you.
PLEASE NOTE: You are not required to obtain a clear title after the lien has been satisfied. Keep the original lien release, attach it to your title and give it to the vehicle purchaser when you transfer ownership.
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Complete All Necessary Paperwork
Maybe you and your ex are at a place in which the two of you all can divide up the work of downloading and completing paperwork. You want to make sure that you fill out all forms. Be sure to visit your states DMV/title office for the forms. It may be to your benefit to download at least two copies of the forms, just to ensure that both you and your ex complete the boxes and lines on the forms correctly.
Is Name Change Notification Mandatory
Depending on your DMV, you may be required to submit name change notification within a certain number of days. Maryland, for instance, requires notification within 30 days, as does Oregon. Wisconsin has no mandated time period.
While it’s best to update the car title, a task that will eventually be required when it comes time to sell or donate the vehicle, many states do not require registration certificates to be updated, reflecting your new name. Usually it comes down to a matter of preference, based on your decision. Don’t assume this, however check with your DMV for clarification.
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What Is A Title
A Certificate of Title is the official proof of ownership for a car, truck, motorcycle, motorboat, travel or utility trailer weighing 1,000 pounds or more, or manufactured home . The title certificate is used to transfer ownership from one person to another. The title also lists any “lienholders” those from whom the owner borrowed money to purchase the vehicle or manufactured home. It is wise to keep your title certificate in a safe place. Don’t keep it in the car or carry it with you.
How Do I Transfer My Car Title Registration When I Move States
Youll need to update your license, car insurance and registration when you move states. Although you dont have to update your car title when you move to a new address, it might make it easier if youll be selling your car in the future.
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Title A Repossessed Vehicle
To receive a repossession title, the secured party must surrender the Ohio title assigned in the name of the lienholder and pay a title fee.
What Do I Need to Bring to the Title Office?
- Ohio title assigned in the name of the lienholder
- Certified copy of the security agreement that includes:
- the name and address of the debtor and secured party
- the terms of the contract
- a description of the secured collateral year, make, model, and vehicle identification number
Payment for title fees is required at the time of titling.
Salvage and Self-Assembled Vehicle
Locating Vehicle Owners/bonded Title
Do not buy a vehicle from a private party unless the seller can provide a title in his or her name. A Bill of Sale by itself is not acceptable.
If you purchased a vehicle and do not have a title or adequate proof of ownership, bring any documentation you have to a DMV office. We will instruct you on how to attempt to locate and contact the previous owner.
If you are unable to contact the previous owner, you may be able to apply for a Bonded Title.
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What To Do If You Can’t Find The Lienholder
If your financial institution or lender merged with another lending institution, changed its name, moved, or went out of business, you might have trouble finding the lienholder. Locating and communicating with the lienholder is pivotal for the transfer of title. For help in finding an institutional lender to get a lien release in California, check the Financial Institution Listing section on the state’s DMV website.
In New York, check for a lienholder’s name and address online at the DMV website. Look for the “Registration/Check a Title or Lien Status” page. You need the Vehicle Identification Number , and the vehicle make, model, and year.
Making the final payment on your auto loan is a milestone. Knowing how to get a title after paying off a car loan enables you to complete the process of buying a motor vehicle. You can now drive with confidence knowing that your new car is all yours. Keep this process in mind if you ended up desiring to sell your vehicle once it is paid off. The same process is valid and followed by the transfer of title from your name to the new buyer’s name.
Beware These Pitfalls When Getting A Car Title
Check to make sure all the information shown on the certificate of title is accurate when you get a title for a new vehicle. The year, make and model should match that of the vehicle youre actually getting.
If your car title is coming from a private-party seller, make sure the seller has completed the titles transfer of ownership section .
Pro tip: In some states, using correction fluid or an eraser on the transfer of ownership section automatically voids the document, so make sure to keep it clean when taking possession of the document.
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Do I Need My Car Title To Get Car Insurance
For the most part, no. Most car insurance providers dont require you to show the car title when youre purchasing a policy. For drivers with a car loan or lease, you typically wont even get the title with ownership rights until you pay off the loan.
You can also get insurance for a car you dont own by getting a nonowners car insurance policy.
Do I need my car title to register my car?
No, you dont need the title as long as you have proof the car is yours.
For example, if you have a loaned or leased car, you will need to show proof of ownership instead until you pay off your car and the title is in your name.
If you bought a car without any proof of title or ownership, youll need to contact the DMV about getting a new title. This should be a similar process as replacing a lost car title, though you might need to do a little more legwork to get proof the car is yours now.
How To Get Car Title In Your Name
This article was co-authored by Clinton M. Sandvick, JD, PhD. Clinton M. Sandvick worked as a civil litigator in California for over 7 years. He received his JD from the University of Wisconsin-Madison in 1998 and his PhD in American History from the University of Oregon in 2013. This article has been viewed 84,796 times.
A car title is a legal document containing important information about the vehicle and its owners. Whenever a car is sold or transferred to another owner in any way, the title has to be transferred to reflect the vehicle’s new ownership. If you take ownership of a car, your will have to get the title transferred in your name. To do this, gather important information and fill out Department of Motor Vehicle forms. To complete the transfer and get title in your name, you will have to visit your local DMV office, submit your paperwork, and pay a fee.
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How To Transfer A Title In Each State
The title transfer process varies from state to state, so youll have to contact your DMV title transfer agency to find out what the specific requirements are. However, it typically is as easy as turning in the titled signed over to you by the seller or gift-er. Youll very likely need to complete a form or two which most DMVs should be able to give you at the window. Youll need an ID and possibly a proof of residence document like a utility bill.
Since each state has slightly different requirements, its important to know what those are before handing money over to the seller of a car. For example, Pennsylvania requires that the signatures on the title, yours and the sellers, be notarized. New York often requires a Bill of Sale signed by both you and the seller in addition to the title.
Most state DMVs have websites that guide you through the steps and provide downloadable title forms. In some cases, a DMV may allow you to mail in the your documents and forms which saves you a trip a possibly crowded DMV office.
Contact The Department Of Motor Vehicles Immediately
If you believe someone has a car registered in your name, then you need to contact your states Department of Motor Vehicles immediately.
The DMV keeps a record of every driver in the state. The DMV tracks the drivers record, infraction history, vehicle type, and more.
At this point, you can explain the situation to the DMV. Explain that you believe someone else has illegitimately registered a vehicle in your name.
You may need to provide your drivers license number, full name, and proof of identity. The DMV can search your name and drivers license number to see if there are any unknown vehicles attached to your record.
If the DMV search doesnt reveal any unknown vehicles attached to your driving record, then nobody has registered a vehicle in your name.
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Done With Getting The Car Out Of A Persons Name Its Time To Sell It
Once you successfully remove that name from the car, you can sell that car- should you want to- to Cash Cars Buyer!
Ready to sell that car after a name removal? to begin the process, NOW!
Can A Co Owner Insure A Car
Co-titling a vehicle means you’re adding an additional owner to a car. … But once you’re added to the title as a co-owner of a car, you’re free to get an insurance policy on that vehicle. As an owner, you can be the primary policyholder. But any other owner should also be listed on the car insurance policy.
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Correcting Or Converting A Vehicle Title
- Add or remove a name
- Correct a name
- Remove a lienholder
- Convert to a Michigan title
To add or remove a vehicle owner from the title, visit a Secretary of State office.
All listed owners on the title must be present and provide their valid license or ID in order to change or correct the title.
The fee to correct a name on a title is $15.
If your name has changed and needs to be corrected on your vehicle title, visit a Secretary of State office and provide the following:
- Your valid license or ID
- Vehicle title
- Vehicle registration or license plate number
- An official document providing proof of the legal name change
All listed owners on the title must be present and provide their valid license or ID in order to change or correct the title.
The fee for a corrected title is $15. There is no fee to correct vehicle registration.
To correct the address on your vehicle title, visit a Secretary of State office and provide the following:
- Your valid license or ID
- Vehicle title
- An official document showing proof of your new address
All listed owners on the title must be present and provide their valid license or ID in order to change or correct the title.
The fee for a corrected title is $15. There is no fee to correct your vehicle registration.
You arent required to remove the lienholder from your title after paying off the lien, however, you can do so for $16 at a Secretary of State office by providing the lien termination notice or title signed by the lienholder.
Heres How To Check A Vehicles Registration With The Dmv:
- Step 1) Write down the vehicle identification number .
- Step 2) Write down the vehicles license plate number
- Step 3) Check the vehicles license plate to verify the state
- Step 4) Contact the DMV for the state in which the vehicle is registered, then request a title record.
The DMVs title record will list who owns the title for that vehicle. If someone has registered that vehicle in your name, then the title record will show your own name.
Some DMVs require you to claim an exemption under the Driver Privacy Protection Act before you request a title record.
With some DMVs, you only need the license plate number or the VIN. Some DMVs require both the license plate number and the VIN to run a title record search, however.
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