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Transferring Ownership
The Golden rule #1 - never pay before getting the car, the title and the bill
of sale from the car seller. If you are buying from a dealer, in some states,
he is responsible for all of your DVM paperwork, but not in other states.
When you pay for the car, you get the car with temporary plates. Short time after,
the real plates will be available with your title.
The "Bill of Sale" is your legal right to the car, before ownership
is transferred, and it is the receipt you'll need as a proof of purchase for tax
purposes. The "Bill of Sale", made out by seller will show:
- The amount paid for the car
- The names and driver's license numbers of both, buyer and seller
- The car information, such as: VIN#, year, model, make, color...
- The date of sale
Title
Transfer
If the owner has the title - all information must be entered correctly the first
time. Do not erase or edit anything on the title. Fill in the correct mileage,
and have the seller sign his name. If the bank or financing company has the title,
go with the seller to place where the title is held. Exchange the money and title
there. The seller will have to pay the balance of the loan on the car in order
to receive the title. Title should be signed over to you immediately by filling
out the information on the back. If there is NO title - don't buy the car !!!
Never give the seller the money for the car and wait for him to go and get the
title of his own. Always either let the seller get the title first, and than pay
him, or, go with him to get the title and than pay him for the car.
Division
of Motor Vehicles
Registration, license plates (transferred or new) and title transfers are all
handled trough Division of Motor Vehicles agency in your state. After buying the
car, you'll need to get the car insurance which is usually required in order to
register the vehicle.
As some sports cars and high end cars have expensive insurance, many people
choose to find out the costs of insurance before buying the car. Remember, you
can get your Free Insurance Quote,
from several reputable companies featured on OmegaMotors.com. To register your
car, in many states, you'll need your current address and insurance card (at least
the temporary card) to complete the car registration and license plate transfers.
Call your local Division of Motor Vehicles office for specific procedures and
information in your state.
Plates
You can either get new plates for your car or transfer the plates from the car
you previously owned. Second way - transferring is less expensive than the first
- getting new plates.
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