Get legal answers to frequent inquiries about selling your convertible or boat securely before the summer price increase expires.
What you will discover:
How can I legally transfer ownership of an automobile or recreational vehicle?
Can I sell a car or other vehicle if I do not have the title?
How can I protect myself while selling a vehicle or boat?
What exactly does it mean to sell a car “as is”?
Is it necessary to get the car tested or examined before selling it?
Is the vehicle or boat still my responsibility when I sell it?
Summer is coming to a close, but there are still plenty of days to enjoy the outdoors. Despite the fact that summer is nearly gone, there are still many consumers looking to purchase a boat, RV, or convertible to enjoy the remaining few weeks of the season. To capitalize on the summer price increase for these vehicles, here are some answers to often asked legal issues regarding properly selling your convertible or boat.
Table of Contents
How can I legally transfer ownership of an automobile or recreational vehicle?
Vehicle title paperwork often contain all you need to transfer ownership. It will often include a piece for the buyer to fill out, sign, and return, as well as a detachable section for the seller to complete and return to the Department of Motor Vehicles.
To transfer ownership of an automobile, you must first sign the title. The signed title should then be given to the new owner, who should take it to the Department of Motor Vehicles to have a new title issued in their name. The state will then give the new owner of the car a new title and registration paperwork, finishing the procedure. Before completing the new owner’s registration, certain states may need further formalities, such as inspections or emissions testing.
Can I sell a car or other vehicle if I do not have the title?
Although having the title in hand is preferable, if it becomes lost along the line, you may still sell your car. You should contact the DMV to get a new title, since not having one will decrease the number of potential purchasers. Some purchasers will be patiently waiting for you to do so. If finding a replacement is not feasible owing to the car’s age or other factors, be upfront with the buyer. If the buyer needs a fresh title but does not want to wait, you may conclude the transaction with an Affidavit of Ownership and a Bill of Sale.
This is common with used automobiles, inherited vehicles, RVs, and watercraft. Making an Affidavit of Ownership to submit to the buyer might assist you sell an unnamed car by giving confidence that you can legally sell it.
How can I protect myself while selling a vehicle or boat?
When it comes to selling a car, the first step is to create a Bill of Sale. This is a formal contract between you and the buyer that establishes the conditions of the agreement, such as the price, what is included, and whether or not a guarantee is provided.
Even if an agreement is in paper, sellers must exercise caution. Selling an automobile normally entails accepting cash from a total stranger, which opens the door to deception. Buyers who use faulty checks or fake invoices may defraud you not just of your automobile, but also of your money. You may also find yourself in legal problems if you utilize the phony money you got. You may protect yourself by being cautious about how and where the transaction is carried out.
Do not let the automobile go until the inspections are completed. If that is not feasible, at the very least, get confirmation from the issuing bank that the check will not bounce, but keep in mind that fraudsters may have a false phone number placed on a check that leads to an accomplice’s phone. You should check the buyer’s ID using a driver’s license and another kind of identification that includes a name and address.
To be safe, finish the transaction at the buyer’s bank if possible. That way, before handing over the keys, you may cash the check instead of depositing it in your bank, and then request that their bank give you a fresh cashier’s check or transfer the monies straight to your account. If the buyer pays cash, the transaction may be completed in your bank. This allows you to get the cash tallied fast and correctly, as well as providing confidence that the cash is genuine.
Never accept a check payment for more than the automobile is worth with the request to refund the difference in cash to the buyer. This is a pretty prevalent kind of fraud. In these cases, the check is quite likely not to clear, and the buyer will want their money back before the check has ever had a chance to clear. Finally, be very wary if someone wants to purchase your automobile or boat without first seeing and driving it.
What exactly does it mean to sell a car “as is”?
Selling a car “as is” indicates that it comes with no guarantees or warranties. This is usually done if the vehicle has been used or if it has a known or suspected mechanical or aesthetic concern. This often absolves the seller of any duty if the car breaks down a few miles down the road.
Sellers who are aware of an issue, on the other hand, are not permitted to lie about or hide it. An “as is” transaction normally only protects sellers from known flaws that are declared or visible, as well as unforeseen concerns.
Is it necessary to get the car tested or examined before selling it?
Most states do not need pre-sale inspections. However, in other places, such as California, Alabama, and Maryland, a seller may be required to have their car smogged or safety checked before it can be lawfully sold or transferred to a new owner.
Many purchasers may want to take your car to a reputable technician. Allowing customers to have the automobile examined before to purchase is a fantastic idea for vendors. This may assist insulate you from responsibility if anything goes wrong after the sale, which is especially important when a car is offered “as is.”
Is the vehicle or boat still my responsibility when I sell it?
A seller should inform the DMV of the transaction as soon as possible. Most states hold the seller harmless after the title is signed over and their half is sent in, unless they issued a guarantee or warranty or misled to the buyer.
Also, before allowing the buyer to drive away, be sure to remove the license plates from the vehicle. If you don’t, you might be held liable for whatever occurs while those plates are on it. This might involve red light camera citations, parking tickets, or other offenses where the owner or driver is identified by the license plate. Only Alaska, California, Delaware, Hawaii, and Minnesota require sellers to keep license plates on an automobile after selling it, as long as the plates are not personalised or vanity.
Furthermore, lemon laws may apply if you sell a vehicle or boat privately. Lemon laws protect customers who have been duped by vendors who know their car is soon to break down or is a lemon that will need frequent repairs but fail to inform the buyer. Most jurisdictions restrict lemon laws to automobiles acquired from a manufacturer or dealership.
