No, I am NOT posting this as a for-sale ad. I know that isn't allowed.
To make a long story very short, I have a really cheap vehicle that I'm trying to sell. 'Cheap' as in my M80's cost more. I've got the title, and it's in my name. There are no liens on it. I'm somewhat embarrassed to admit, but I've never actually privately sold a car before. My cars have always been bought and traded at a dealership, where they handle all of the paperwork.
So, for the few of us on the board that live in Illinois and have privately sold cars, what do you have to do to properly sell a car?
From looking at IL's DMV's site and talking to friends, I'm pretty sure that it's: 1) buyer looks at car, 2) price negotiations, 3) collect money (cash or certified check), 4) sign over title. And that's it for the seller. The buyer, of course, has to register it with the DMV and pay the sales tax. But as the seller, do I need to do anything else?
Both the license plate registration and insurance are expired on the car, so there's nothing to do as far as canceling that (it sits on private property). Which brings me to another question - will the buyer have to go to the DMV and get the thing registered before they drive it off my property? I know it's their problem if they get ticketed, but I'd rather be nice about it and tell them what they need to do.
I've found that an automobile bill-of-sale document is usually a smart move, though not legally required in Illinois. I've downloaded one online that looks pretty good. Basically just states that the seller has the right to sell the car, that the odometer is correct, and that the car is being sold as-is.
Does anyone have any advice, tips, or horror stories that they'd like to share?
And no, I will not take any advice as legally binding in any way.
Thanks in advance!
M80v2 | VP150v2 | QS8v2
SVS Pci+ 20-39
Emotiva UMC-1 & LPA-1
M22ti + T-Amp, in the Office