Transfer a car title to the new owner

Transfer a car title to the new owner

Transfer a car title to the new owner : Multi-thousand tips to make your life easier.

Are you planning to get rid of the car that you have stored in your garage gathering cobwebs? Do you want to purchase a new car but don't know what to do with your existing car? You may want to look for a buyer or post a notice on eBay, Craigslist, or in the local classified ads that you are selling your car. If you already have a buyer and your buyer has agreed on the selling price of your vehicle, the next thing you need to attend to is the transfer of your car title to the new owner. It is important to complete the transfer promptly so you will not be held liable for any incident or situation the new owner might be involved in.

• Prepare your certificate of title. If you are planning to sell your existing car to a certain person, it is important that the original certificate of ownership, or the car title, is with you. If you cannot find your title, you may call the bank or lending institution that financed your car loan. If the lending institution has closed, you may seek the help of the Federal Deposit Insurance Corporation so you can still get a copy. This certificate of title is the main document that the Department of Motor Vehicles will ask you for once you visit their office to transfer your car title to the new owner. This is just to ensure that you are the real owner of the car and that you will have no problem transferring the certificate of ownership to the new owner.
• Maintain your car insurance. Even though you're planning to sell your vehicle, this doesn't mean that you should stop the car insurance that you are paying for your car. But you have to make sure that the new owner of your car will insure your vehicle immediately after you turn it over. The Department of Motor Vehicles will ask you for this insurance as one of the other requirements in transferring your car title.
• Seal the deal. Now that you are ready to transfer your car title to the new owner, visit the Department of Motor Vehicles together with the new owner of your car. Make sure that all necessary papers are properly and completely filled out to avoid complications in the future. Once you are at the DMV, you will be asked for your driver's license, certificate or proof of insurance, certificate or bill of sale indicating the agreed selling price, the certificate of title, the Vehicle Identification Number, and the current odometer reading of your car.
• Pay the car title transfer fee. After transferring your car title to the new owner and meeting the requirements set by the DMV, the DMV will ask you to pay a transfer fee to seal the transaction. The payment ranges from $20-$300 depending on the county or state in which you reside.

Now that you have accomplished everything and signed all the papers for transferring your car title to another person, it is important that you still maintain communication with the new owner in case something goes wrong with your car.