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Old 12-07-2012, 08:53 PM
 
7 posts, read 84,804 times
Reputation: 16

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Hello, my old car just hit 300,000 miles and although its in ok condition, taking risk can have consequences.

I'm budgeting $15,000 cash and decided I do not want a car loan... great, but I'm puzzled by the lack of detailed information on how to buy a car from a private seller; I've always purchased from dealerships in the past, but I've seen some clean cars being sold from private sellers.

Can you guys and galls share your experiences with car buying?

I would like a step-by-step guide... as far as I assume:

1) The seller signs and dates the title
2) The buyer (me) signs and dates the title under the buyer section
3) Fill out the Bill of Sale (both seller and buyer)
4) Fill out the Odometer Disclosure Statement (both seller and buyer)
5) The seller has the right to remove the license plates from the vehicle
6) Title and register the vehicle - it is the buyers (me) responsibility to obtain a new title and register the vehicle. "If you have recently purchased a vehicle with an Indiana title you must title it in your own name within 31 days."
In order to register & title the vehicle for the first time, you must visit a license branch/BMV. You need to provide proof of insurance and proof of your SS number.

That is all fine and dandy, but it leaves me with some questions and the IN.gov BMV website isn't all that great.

How can I drive the car without a license plate?
Can I get a temporary plate or Trip/Travel permit? Is it legal to drive the car without plates so long as I have a signed title and bill-of-sell? I know some states allow a grace period of driving without plates (Michigan for example allows 3 days), but I can't find any information on the IN BMV website. Keep in mind I may need to drive the car without plates to the BMV branch itself.

Insurance...
Well, I need proof of insurance to register the car. I'm wondering if my existing policy will temporarily cover my car purchase. I know I know, I should contact my insurance provider (USAA), but I noticed other insurance companies have this in writing on their website... USAA is very secretive and doesn't disclose much information online. Regardless, I will contact an USAA agent. Also, getting pulled over I will want coverage... and forbid I get into an accident.

Then there are out of state purchases... since I live in south-east Indiana I will consider purchasing a car in Kentucky or Ohio...
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Old 12-08-2012, 04:08 PM
 
898 posts, read 961,385 times
Reputation: 549
Quote:
Originally Posted by Reborn Buck View Post
How can I drive the car without a license plate?
Can I get a temporary plate or Trip/Travel permit? Is it legal to drive the car without plates so long as I have a signed title and bill-of-sell? I know some states allow a grace period of driving without plates (Michigan for example allows 3 days), but I can't find any information on the IN BMV website. Keep in mind I may need to drive the car without plates to the BMV branch itself.
You need to use your old plate. The way it should work is that you bring your old plate and registration with you to the deal. Once the deal is made, put your old plate on the vehicle. You will need to carry with you the old registration with your name and a bill of sale that matches your name. You can use the old plate for 31 days. You aren't supposed to use the plate for both vehicles though, so if you plan on keeping your current car, you need to get to the BMV as quick as possible to get a plate. I would also pay for a new, clean title. Don't keep the title in the vehicle if you decide to drive it with the old plate. I would suggest keeping a copy of the title though (front and back).

Quote:
Originally Posted by Reborn Buck View Post
Well, I need proof of insurance to register the car. I'm wondering if my existing policy will temporarily cover my car purchase. I know I know, I should contact my insurance provider (USAA), but I noticed other insurance companies have this in writing on their website... USAA is very secretive and doesn't disclose much information online. Regardless, I will contact an USAA agent. Also, getting pulled over I will want coverage... and forbid I get into an accident.
Yes, contact your insurance company. Most cover a newer vehicle for a week or two after purchase.

Quote:
Originally Posted by Reborn Buck View Post
Then there are out of state purchases... since I live in south-east Indiana I will consider purchasing a car in Kentucky or Ohio...
Out of state purchases are no different when it comes to insurance and using your old plate. The only difference is that when you go to apply for a new title and switch over the registration (or get new plates), they BMV won't do anything until you get what is called a VIN inspection or VIN check. There is a specific form which can be found on this page:

BMV: Title Forms
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