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Old 05-18-2015, 11:37 AM
 
81 posts, read 209,231 times
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We are listing my wife's car on Craigslist for sale. I've always traded my used cars in at the dealership, and have no experience in selling one privately before. I tried reading the NY DMV site, but it's a little confusing to me. From what I can gather, these are the steps:

1) Give the vehicle title to the buyer (he/she will then take it to the DMV themselves and have the title transferred).

2) Provide a bill of receipt. Basically, a sales receipt to confirm the sale and price, and for the seller to take to the DMV to pay the sales tax with.

I will have to remove the license plate and the registration sticker from the car. Is this it in terms of paperwork? Anything else that I'm missing?
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Old 05-18-2015, 08:52 PM
 
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You have to receive the money, sign your name where indicated, and write up a bill of sale. Yep- that's it. It could be written on a napkin and one sentence long. The buyer will likely ask you to put down a lower price, as a head's up from me, so they don't have to pay so much in sales tax.

Be sure to not cancel car insurance on it until you've brought the plates back to the DMV, to cancel registration. There are fines if a car is registered but not insured, from the very first day.
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Old 05-18-2015, 09:34 PM
 
2,155 posts, read 1,717,100 times
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Quote:
Originally Posted by crease123 View Post
We are listing my wife's car on Craigslist for sale. I've always traded my used cars in at the dealership, and have no experience in selling one privately before. I tried reading the NY DMV site, but it's a little confusing to me. From what I can gather, these are the steps:

1) Give the vehicle title to the buyer (he/she will then take it to the DMV themselves and have the title transferred).

2) Provide a bill of receipt. Basically, a sales receipt to confirm the sale and price, and for the seller to take to the DMV to pay the sales tax with.

I will have to remove the license plate and the registration sticker from the car. Is this it in terms of paperwork? Anything else that I'm missing?
You have to give a tax certificate for the sale. Basically, you escrow the tax on the sale price to DMV and you will get it back later once the buyer has paid the sales tax to DMV.
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Old 05-18-2015, 10:06 PM
 
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Quote:
Originally Posted by proulxfamily View Post
You have to receive the money, sign your name where indicated, and write up a bill of sale. Yep- that's it. It could be written on a napkin and one sentence long. The buyer will likely ask you to put down a lower price, as a head's up from me, so they don't have to pay so much in sales tax.

Be sure to not cancel car insurance on it until you've brought the plates back to the DMV, to cancel registration. There are fines if a car is registered but not insured, from the very first day.
When you say sign your name where indicated, do you mean behind the vehicle title?
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Old 05-19-2015, 05:52 AM
 
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Originally Posted by Yuptag View Post
You have to give a tax certificate for the sale. Basically, you escrow the tax on the sale price to DMV and you will get it back later once the buyer has paid the sales tax to DMV.
I have NEVER done this.
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Old 05-19-2015, 05:54 AM
 
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Originally Posted by crease123 View Post
When you say sign your name where indicated, do you mean behind the vehicle title?
Yes. About halfway down, on the back, to the right of the dark blue box that says "Seller." The Buyer doesn't need to write down anything until s/he goes to register it.
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Old 05-19-2015, 06:20 AM
 
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Originally Posted by proulxfamily View Post
Yes. About halfway down, on the back, to the right of the dark blue box that says "Seller." The Buyer doesn't need to write down anything until s/he goes to register it.
Thanks Proulx, that's really helpful! One final question if you don't mind: what form of payment do you usually accept? I'm thinking money order or cash as I don't trust a check
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Old 05-19-2015, 08:31 AM
 
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Originally Posted by crease123 View Post
Thanks Proulx, that's really helpful! One final question if you don't mind: what form of payment do you usually accept? I'm thinking money order or cash as I don't trust a check
Cash. Always cash.
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Old 05-19-2015, 09:02 AM
 
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Originally Posted by proulxfamily View Post
Cash. Always cash.
Out of curiosity, how come not money order?
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Old 05-19-2015, 09:17 AM
 
2,440 posts, read 4,962,953 times
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Originally Posted by crease123 View Post
Out of curiosity, how come not money order?
I don't trust that they're real... there are so many issuers. The only non-cash payment I've ever accepted was a cashier's check from a local bank (they took a loan), which required both of us to sign it... and then I received cash. lol - it was a fairly large amount, to expect someone to bring that much cash. And I had some concerns about counterfeit 100s anyway. I liked being handed proofed bills at the bank itself.
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