If you are planning to sell your vehicle in the near future, it is important for you to remove the car from your name as soon as possible after its sale. While the new owner will typically be required by state law to put the vehicle in his or her name within a few days of its purchase, it is not unusual for new drivers to avoid doing so for a myriad of reasons. Unfortunately, if the new owner drove without the required amount of insurance or otherwise failed to comply with the law in your state, proving that you no longer have the vehicle could be challenging. Therefore, it is a good idea to be aware of the following information when you are selling your vehicle so you can be sure that you have adequately protected yourself if the new buyer makes poor choices.
Remove the Plates
If your state allows you to do so, the most important thing for you to do when the vehicle sells is to remove the plates. However, many buyers will ask you not to do so, especially if you are selling the car in the evening or over the weekend when they cannot get new plates right away.
If you agree to delay the swapping of plates, you may want to agree in writing to meet the buyer at a certain day and time to do so. Alternatively, if you think that the sale of your car could be compromised by the lack of license plates, one compromise can be meeting the next business day at the appropriate office to complete the transaction.
Check Your Car Title for a Bill of Sale or Affidavit of Title Transfer
In some states, you will find that the paperwork associated with your car title includes an affidavit of released liability. Since there were 217,507 delayed title transfers in Texas for the fiscal year of 2013, that form is crucial.
You should plan to fill this form out when you sell the car and immediately submit it to the state. Even if the person who bought your car never registers it as they should, that paperwork informs the state that you no longer own the car. Therefore, you will be protected against any damage that the new owner inflicts, including tolls, tickets, or criminal charges.
In conclusion, registering a new vehicle is a crucial part of being a responsible driver. However, when selling your car, it is a good idea to consider the information above to make sure that you are not put in an awkward position if the new buyer fails to register the car in their own name in a timely manner.
For more information about car registration, consult a professional such as B & K Auto Tags.