**California residents** Many of these documents depend on state law (as he stated in the video). In California, for example, you do not need an odometer disclosure statement, because that information will be filled out on the title when you sell your car. The title, once completed and signed, serves as the "bill of sale". You should make a copy of that because the new owner will take that title to the DMV to get his own title and plates. Also, you are required to send the DMV a "Notice of Release of Liability" within FIVE DAYS of the sale. This notifies the DMV you no longer own the car so you won't be held criminally liable for any parking tickets or red light camera tickets or carpool lane tickets, etc. This is for California only.
Thank you so much for this clarification. Would you possibly know what to do on the vehicle insurance policy removal? Do I need to submit anything to the dmv
@@LSJOJ Nope, you don't need to notify the DMV of your insurance status when you sell the car. Only when buying a car. So just contact your insurance company and cancel. Simple as that.
@@LA_Commander is it okay if I contact them a day after I sell the car? Or must it be the same day. One more question if you don’t mind, I have my title with my information written and everything. Do I need a bill of sale aside from the my title or is that all I need to release me from liability? I’m so sorry for the bombarding of questions I simply have no clue and I’m selling my first vehicle tomorrow and the DMV are closed weekends.
@@LSJOJ Okay, the title itself serves as the bill of sale. You (the seller) and the buyer both sign and fill it out. Make a copy for yourself. It's up to the new buyer to take that title to the DMV and get a new one in his name. You have to complete a form called "release of liability" which is a separate form and mail it to the DMV or you can do it online at the DMV website. You will need the buyer's name and address, etc. This is why you keep a copy of the completed title. Yes, you can contact your insurance company the next day, that is up to you.
1.Carfax vehicle history 2.Warranty on car 3.Odometer statement yr make model buyer/seller name address signature mileage notarized 4.Title sign the back/ they get a new title in their name to transfer ownership of payments owed that has to be taken care of through the bank 5. Bill of sale as is sale is final date signature notarized 😊
Greetings Rodney, I am selling my car and have been advise to only have the title ready and this just didn't sit right with me. Your video is easy to understand, to the point, clearly stated and you provide the resources. Thank you.....This is exactly what I needed to learn, specially the "as is" statement. Thank you, thank you, thank you! You found your path......congratulations! I look forward to seeing more of your videos. Peace
Before allowing test drives, you may want to check with your insurance company to see if you have “permissive” driving included in your policy. Also, when a prospective buyer shows up to test drive, if possible meet, at a police station and also take a pic of their drivers license.
This is definitely helpful I have a friend of mines is thinking about selling his car and I am saving up for it just in case he does sell it thank you for making this video I just need a better understanding on selling a car privately
What is the best practice if the buyer wants to test drive the car? Should I take a picture of his driving license? What if drives and we have an accident? Thanks for the video.
Very insightful and informative. But i’m on the opposite ends(buyer). I’m buying a car for the first what i should be looking out for most especially on the car title, and situations where seller doesn’t reveal liens and all. How do I notice all this. Thank you
What if we did our own maintenance on it and there is no record? Ie, changed our own oil, rotated our own tires, changed our own break pads and routers.
I did an as is bill of sale and the buyer wants to take legal action against me. I’m in California. He took the car for inspection after the sale was done. They found rust underneath the car. So now he wants to take legal action
I didn't hear you mention the lien release. In AZ this is also a document you should get from your loan company before meeting with a buyer who is ready to purchase.
