Apart from clarifying the ownership of a car, a car title also contains other valuable information. It will tell you the identification number, the car mileage at the point of sale, and specify the model type. Therefore, the car title transfer is a crucial part of selling a car. In this article, you will know more about transferring a car title.
Steps Involved In Car Title Transfer
Car title transfer revolves around one step for the buyer and one step for the seller. The seller is required to release the ownership of the car, which is a crucial part of transferring a car title. It can be done by signing the title. The buyer will have to take the signed title to the DMV. The state will issue a new registration and title for the buyer. In some states, additional paperwork is required to complete the process.
A dealer usually handles all the paperwork required for transferring a car title, but if you are selling or buying your car privately, it is your responsibility to complete the process. You should put your signature in the correct place and provide accurate information.
Check The Names Listed On The Title
A seller needs to find out whose names are listed on the title. If it’s only your name, you are the sole owner, making transferring a car title relatively straightforward. But if you took an auto loan before purchasing the car, the bank or the lender’s name will also be present. This means that you will have to settle the auto loan before selling it. A loan complicates the process of selling. But it is still possible to sell your car.
Sometimes a car has joint ownership. This means that the car title will have two names. But the two names will be separated by an “and” or an “or.” If there is “and” both, the owners will have to sign the title to transfer the ownership. But if it has an “or,” the signature of any one person will do.
Conclusion
Avoid delays in the transfer of car title by ensuring that you do the paperwork correctly. VehBee, as a trusted car auction platform, connects buyers and sellers, making it easier to handle the required documentation efficiently.
