You’ve grown tired of your current ride and you’re ready to get something else. You shop around and find a car you like, but you’re not happy with what you’re being offered for trade. You think, “I can get more money by selling this outright.” Happens every day, right? Be careful.
If you elect to do this, make certain to document the sale. Although not always possible, it is a good idea to meet the buyer at the Bureau of Motor Vehicles to sell your car. You hold the title and you want to make certain the vehicle is titled in the new owner’s name. Meeting at the BMV can allow this as soon as the transaction is complete.
The buyer will need to transfer the title in order to sell the car, title it in another state, obtain insurance or other tasks. If the buyer fails to properly transfer ownership records, you as seller may be subject to burdensome calls after the fact.
Why is this a big deal?