First time selling a car and need some advice
#1
First time selling a car and need some advice
Well, this'll be my first time selling a car and i believe its kinda difficult.
I bought a car from someone to use it as a "parts" car. Signed pink and everything since i was using it as a parts car i didn't bother registering it. Now I have to get the car out of my friends house since his parents do not want it sitting there anymore.
The guy who's buying it plans on fixing the car up and have it back up and running.
I was wondering what would I have to do to complete the sale? Do I just give him the pink slip / bill of sale?
I bought a car from someone to use it as a "parts" car. Signed pink and everything since i was using it as a parts car i didn't bother registering it. Now I have to get the car out of my friends house since his parents do not want it sitting there anymore.
The guy who's buying it plans on fixing the car up and have it back up and running.
I was wondering what would I have to do to complete the sale? Do I just give him the pink slip / bill of sale?
#2
In Michigan, you'd have to go the Secretary of State to complete the initial sale, pay sales tax on the stated purchase price plus a penalty for not applying for a title within the specified timeframe, and get a title issued in your name. Then you could transfer the title to the next buyer.
In CA, YMMV.
In CA, YMMV.
#3
Well, this'll be my first time selling a car and i believe its kinda difficult.
I bought a car from someone to use it as a "parts" car. Signed pink and everything since i was using it as a parts car i didn't bother registering it. Now I have to get the car out of my friends house since his parents do not want it sitting there anymore.
The guy who's buying it plans on fixing the car up and have it back up and running.
I was wondering what would I have to do to complete the sale? Do I just give him the pink slip / bill of sale?
I bought a car from someone to use it as a "parts" car. Signed pink and everything since i was using it as a parts car i didn't bother registering it. Now I have to get the car out of my friends house since his parents do not want it sitting there anymore.
The guy who's buying it plans on fixing the car up and have it back up and running.
I was wondering what would I have to do to complete the sale? Do I just give him the pink slip / bill of sale?
Last edited by IceSC; 07-14-11 at 07:08 AM.
#4
Lexus Fanatic
iTrader: (1)
From what i understand, under CA law, you have to register the car, pay any and all fee's due (Past registration, SMOG, etc) then you can sell the car. Some people say they have sold a parts car just like that, no registration, but not sure how you send in a release of liability then, and you really need to send that in.
#5
If going to be made road legal, it will have to be sold with a title...did you never apply for a title?
(in some states, like NH, parts cars can be sold without title so long as the new owner knows they can never register the vehicle)
(in some states, like NH, parts cars can be sold without title so long as the new owner knows they can never register the vehicle)
#6
I went to the DMV earlier today, waited 2 hours to ask a simple question. But anyways the rep told me that its possible to sell the car without registering it. He gave me a vehicle transfer and reassignment form. Told me to fill that with my information and the buyers info with a bill of sale and i should be good.
I feel like thats just to easy though..
I feel like thats just to easy though..
#7
Lexus Fanatic
I went to the DMV earlier today, waited 2 hours to ask a simple question. But anyways the rep told me that its possible to sell the car without registering it. He gave me a vehicle transfer and reassignment form. Told me to fill that with my information and the buyers info with a bill of sale and i should be good.
I feel like thats just to easy though..
I feel like thats just to easy though..
Sounds fair enough to me. A car that is not in running condition, and only used for parts, is not usable and generally should not be taxed (in states that have annual personal-property-tax) or registered. Otherwise, junkyards would have to register every single clunker they have lying around the lot missing a bunch of parts.
However, because it was a formal transaction in your state, it may (?) be subject to the general sales-tax (which most states have), even if it is not a usable automobile or subject to a used-car sales-tax..
Last edited by mmarshall; 07-14-11 at 07:32 PM.
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#8
OK - You're the seller. Therefore, you do not pay any tax. Buyer will have to pay sales tax if he registers the car with the DMV.
All you have to do is fill out the transfer form, sign over the pink slip, detach the release of liability form from the pink slip, fill it out and turn it in. Make sure you do the release of liability form or you will end up getting stuck with traffic tickets, and possibly worse if the guy repairs the car and ends up getting into an accident with it without transferring title out of your hands to himself first.
All you have to do is fill out the transfer form, sign over the pink slip, detach the release of liability form from the pink slip, fill it out and turn it in. Make sure you do the release of liability form or you will end up getting stuck with traffic tickets, and possibly worse if the guy repairs the car and ends up getting into an accident with it without transferring title out of your hands to himself first.
#9
BahHumBug
iTrader: (10)
iirc in CA you need a REG262 dmv form (not avail online, security paper) to sell the vehicle on bill of sale, transfer the title, and waive the smog requirements for a normal vehicle sale.
buyer is still liable for taxes and becomes responsible for any work needed since HE would be the one trying to register the vehicle for road use.
buyer is still liable for taxes and becomes responsible for any work needed since HE would be the one trying to register the vehicle for road use.
#10
Not to alarm you, but it sounds like you don't own the car...when you report the sale to the DMV with a price, you need to pay tax on it, which from what I understand you didn't do.
Last edited by IceSC; 07-16-11 at 10:04 AM.
#12
OK - You're the seller. Therefore, you do not pay any tax. Buyer will have to pay sales tax if he registers the car with the DMV.
All you have to do is fill out the transfer form, sign over the pink slip, detach the release of liability form from the pink slip, fill it out and turn it in. Make sure you do the release of liability form or you will end up getting stuck with traffic tickets, and possibly worse if the guy repairs the car and ends up getting into an accident with it without transferring title out of your hands to himself first.
All you have to do is fill out the transfer form, sign over the pink slip, detach the release of liability form from the pink slip, fill it out and turn it in. Make sure you do the release of liability form or you will end up getting stuck with traffic tickets, and possibly worse if the guy repairs the car and ends up getting into an accident with it without transferring title out of your hands to himself first.
Actually there is a online form i can use.
iirc in CA you need a REG262 dmv form (not avail online, security paper) to sell the vehicle on bill of sale, transfer the title, and waive the smog requirements for a normal vehicle sale.
buyer is still liable for taxes and becomes responsible for any work needed since HE would be the one trying to register the vehicle for road use.
buyer is still liable for taxes and becomes responsible for any work needed since HE would be the one trying to register the vehicle for road use.
So if i am correct i need
Bill of Sale
Pink Slip
Vehicle Vessel Transfer and Reassignment Form (REG262)
Release of liability online filled out (REG138)
Should be good by then i hope. Please correct me if i am wrong.
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