![]() If you provide a bill of sale, this will serve as a receipt. The buyer might request a receipt for the cash. Getting payment: Cold, hard cash is the easiest way to collect payment for your vehicle. With the proper documents in hand, go to your state's DMV or motor vehicle registry, where you may be required to pay sales tax before you receive the new registration, title and (in some states) new license plates. In most cases, this means you will have to get the title, often called the "pink slip," from the seller or possibly a bill of sale. Below, we take a look at the sales transaction from both sides: the seller and the buyer.Īs a buyer, you will have to prove you are the new legal owner of the vehicle in order to register it. For the specific steps, make sure you check with the Department of Motor Vehicles in your state.Īs a private seller, you will need to make sure you receive the proper payment for your car and limit your liability (in case the new owner crashes the car right after driving away in it). While the laws governing the sale of motor vehicles vary from state to state, the general outline of the deal is similar. ![]() ![]() ![]() Whether you're buying or selling a used car, you need to make sure to file all the paperwork and close the deal properly.
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