The need to sell a car can arise from different reasons. Some people sell their cars to buy new ones, while some require urgent cash. Other reasons may include relocating and simply getting rid of an old car. Whatever the reason is, the job of selling a car must be processed through a systematic approach. In New York, there are specific steps to be followed while selling a private vehicle. This article will outline the steps so that you can sell your car quick in New York.
Step 1: Allowing Third-party Inspection
Buyers often choose third-party pre-purchase inspection by experts. The seller must be open to this approach to win the buyer’s trust. Experts explore the mechanical condition of the car and fetch a comprehensive report to the buyer to make an informed decision. This also helps the seller to know the best value of their car based on the current status.
Step 2: Keeping all Vehicle Documentation In Place
Before selling a car, the seller must compile all maintenance records, the owner’s manual, and other necessary car paperwork in one place. This documentation must include the latest safety and emission inspection report (maximum 12 months old). This is crucial to comply with New York state law. Furthermore, a buyer would need this safety inspection before registering the car in their name.
Step 3: Damage disclosure and the odometer
According to New York state law, the seller must disclose the vehicle’s mileage and condition. The National Highway Traffic Safety Administration’s (NHTSA) odometer disclosure guidelines were updated in December 2020 due to increased odometer fraud cases in New York. Any car with the model year 2011 or later (2012, 2013, etc.) must disclose its odometer. Previously, the NHTSA only mandated disclosure for the first ten years. Odometer disclosures are not mandatory for cars made before 2010. For every vehicle, regardless of age, the Damage Disclosure Statement on the back of the New York title must be filled out.
Step 4: Bill of Sale
A bill of sale can be helpful if complications arise when the buyer transfers the title or register the car in their name. As a best practice, many private owners get their sales documents certified. The original bill of sale, along with the other necessary ownership documentation, must be submitted to the DMV by the new owner. To sell your car quick in New York, one needs to present the following information in the Bill of Sale:
- A vehicle’s make and model year, as well as its VIN
- Date of Sale
- Acquisition Cost
- Buyer and seller’s full legal names and signatures
Step 5: Title Transfer
The seller must fill out and sign the transfer part to transfer ownership of an original New York State Certificate of Title. Even if there are two owners of the car in New York, only one of them needs to sign the title to transfer ownership.
Step 6: Remove license plates to complete a Statement of Transaction
The buyer and the seller must complete a Statement of Transaction form DTF-802 when selling or buying a car privately. This form is then sent to the New York DMV, where the sales tax is generated and collected from the buyer. Gift vehicles are not subject to sales tax. The seller needs to take the car’s license plates and the registration sticker off the windscreen before finalizing the deal. It is essential to turn them in as soon as you can at a DMV office. The seller may face charges for any parking or traffic infractions committed by the buyer if they don’t properly dispose of the license plates and stickers.
So, these are essential steps to follow to sell your car quick in New York. To make the process easier and effortless, one can sell their car through a professional auto dealership.