How do i close deal on truck?

[bmohan55]

I have two different peple coming over this weekend to look at my Series. I have never sold a vehicle private party, usually gave them to my kids or traded in. What do I need in my hands before I hand over the title & keys? Doubt if someone would carry $10,000 with them.

Thanks
Bob

 

[garrett]

Have a bill of sale drafted up - two copies and the two of you sign both.

Have your title in hand and his ID so YOU can fill in the title information and sign.

If your not dealing in cash, I'd check with them before they arrive how they want to handle the transaction. If they want to use their bank, then I'd go with whomever to that particular bank. I don't trust money orders and bank checks unless it's physically at their bank. At least not when it's dealing with that much money.

Remove any plates from the truck and any personal information, including registration, insurance, etc.

 

[nosivad_bor]

Gary would know, he was a used car dealer about ten years ago.

 

[Ballah06]

To add to what Garrett said above, more of a post-sale comment. Do check with the DMV to make sure once the vehicle is sold you are not being charged personal property tax for it. I believe once you turn in the tags , they can take it off your record.

 

[garrett]

Gary would know, he was a used car dealer about ten years ago.

I'll sell anything Robbie. Wish I still had my license to buy/sell. Nothing like the smell of air fresheners, hot dogs and car exhaust.

 

[bmohan55]

wow, that was quick
thanks!

 

[Ballah06]

FYI. From VA DMV website:

http://www.dmv.state.va.us/webdoc/citizen/vehicles/selling.asp

 

[galen216]

The VA DMV also has a nice Bill of Sale form you can fill in for the buyer's convenience. Has all the relevant information and is better than a hand written made up form.