There are several steps that needs to be taken to sell a car and if you don’t have a title for the car, you probably would have more steps and processes to go through to sell the car. Selling a car means you have to hand over ownership by transferring the title to the new owner.
Car Title
A Car title in Phoenix, AZ is a legal document that establishes that a person is the true owner of the car. Hence, it is one of the most important document that must be available to transfer ownership when you are selling your car.
If you don’t have a title? How do you go about selling your car? Let’s take a look at how to get around this situation, we will highlight all you need to know about selling your car without the title.
If the Bank Has the Title
One major reason why a car sell might not have the title is if the bank has the title. This is a common scenario that happens when the car is financed; the bank in this case usually keep the title until the car owner has fully paid off the loan.
Now, how do you sell your car if you are in this situation? It is not difficult to sell your car if you are in this situation. All you need to do is to get an accommodating buyer who will understand your position, work thigs out with your bank, find the payoff amount from your bank, get the money from your buyer and use it to pay off the debt on the car. This will enable the bank to release the title to the seller, and the seller can get the title and you complete the transfer of ownership.
If the Title is Lost
Losing or misplacing your car should not make you so worry, it is not a big deal.
You can always get a duplicate title from the Department of Motor Vehicles (DMV) in your state, most DMV websites have a section that is specifically dedicated to dealing with issues of lost titles. Visit your DMV to apply for a duplicate title, fill the application form and provide the necessary documents, you can get your title mailed to you or you can get it on-the-spot at an extra processing fee. You can call your local DMV to know how to go about this process.
If your State Doesn’t Issue a Title
There are certain states where vehicle titles are not issued for vehicles that are 25 years and above, while s me states will not even issue titles for cars once they are 15 years. This can make selling and buying used car a little tricky, especially if the car doesn’t have a title to a buyer not resident in your state.
In this case, the best thing to do is to write a clear, dated bill of sale that will include all the particulars of the car you want to sell, contact information and signatures of both the seller and buyer should also be captured. To ensure extra legitimacy, you can decide to notarize the document. The buyer will have to register the car by visiting the relevant agencies in the new state to complete extra paperwork needed for a new title to be issued. Find out more at https://onnetworksolutions.wixsite.com/getcartitleloan/post/should-i-move-to-a-new-neighborhood .