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Anyone here ever sell a car in Illinois?
#216068 07/23/08 07:34 PM
Joined: Oct 2003
Posts: 1,349
connoisseur
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connoisseur
Joined: Oct 2003
Posts: 1,349
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
Re: Anyone here ever sell a car in Illinois?
PeterChenoweth #216072 07/23/08 07:58 PM
Joined: Feb 2006
Posts: 6,471
axiomite
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axiomite
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Sounds like you're on top of it!


Bears, beets, Battlestar Galactica.
Re: Anyone here ever sell a car in Illinois?
medic8r #216086 07/23/08 10:53 PM
Joined: Jun 2003
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Wid Offline
axiomite
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W
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I do believe you have it all covered. One thing to consider is the test drive. If you have no insurance on the car you will be responsible if the driver were to have an accident of any kind. A call to your insurance company might be in order. Make sure the car has some type of coverage.

A bill of sale should be all the buyer would need to drive it off your property, that's all I have ever done. Make sure you put in writing " SOLD AS IS " .


Rick


"A fear of weapons is a sign of retarded sexual and emotional maturity." Sigmund Freud

Re: Anyone here ever sell a car in Illinois?
Wid #216091 07/23/08 11:31 PM
Joined: Oct 2003
Posts: 1,349
connoisseur
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Joined: Oct 2003
Posts: 1,349
Thanks Wid, I know that you live in Illinois too and I was hoping that maybe you'd chime in. ;\)

I have talked to my insurance agent and his advice was to not allow the car on the road at all, since it's not covered and that would be illegal. That does make a test drive impossible, so the buyer is just going to have to be content with driving it up and down my driveway. I know that probably will hurt the value a bit, but frankly it's not worth my time & effort to get it re-plated and insured.

The car has been in the paper for one day and I've had 5 calls already. Lots of demand for dirt cheap little fuel efficient cars these days! Two of the callers declined to come see it once I explained about not being able to take a test drive. I don't blame them one bit. But another still wanted to see it and after a few minutes made me an offer that I accepted, so I'm pretty happy about that. He's bringing cash tomorrow and the deed should be done.

The bill-of-sale document that I downloaded has a great big 'AS-IS', 'no warranty expressed or implied' clause in it, and I intend for both of us to sign it when he purchases it. Verbally, I was quite clear that the car is as-is.


M80v2 | VP150v2 | QS8v2
SVS Pci+ 20-39
Emotiva UMC-1 & LPA-1
M22ti + T-Amp, in the Office
Re: Anyone here ever sell a car in Illinois?
PeterChenoweth #216095 07/24/08 12:38 AM
Joined: Jun 2003
Posts: 6,833
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axiomite
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Looks as if you did good, you covered your (rear) end well.


Rick


"A fear of weapons is a sign of retarded sexual and emotional maturity." Sigmund Freud

Re: Anyone here ever sell a car in Illinois?
Wid #216096 07/24/08 12:43 AM
Joined: Jan 2004
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Likes: 15
shareholder in the making
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shareholder in the making
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you can get insurance for just one day from your agent.


M80s VP180 4xM22ow 4xM3ic EP600 2xEP350
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