lookuphere

Hi guys

I had a quick question about a private party car sale. If i were to buy a car from someone (random person, not related), do I have to register it to the DMV following the sale IF I intend it sell it within a short time frame?

Let's say that after I buy it, I definitely plan on sellling it within a few weeks up to a month.

It seems like extra paperwork (and fees) that might not be necessary if I don't plan on driving the car at all and buy it with the intent to sell.

anyone know? Thanks

gen2gsr

When you buy it, the seller makes you sign the pink slip at the time of sale as a receipt. Seller notifies DMV in 5 days, and buyer has to notify DMV in 10 days where the registration fee is the sales tax rate on the reported purchase price of the car. If you are worried, you can "underestimate" on the purchase price. I said my car was a thousand dollars, to which DMV said I pay 60 in registration and like another 80 in sales tax.

enoyskt

By law must register within the 10day timeframe

lookuphere

thanks for the info guys.


So before i can sell the car, I HAVE TO register it with the DMV before doing so? I might be buying a car from a good friend, so the reporting to DMV right after the sale can be slightly delayed.


Basically, when I buy the car from my friend, I wont have to sign and date the Pink Slip until later if I choose. I just wanted to know if I can legally sell the car.

dwnshft & xlr8

You can buy the car, without title being signed, all you need is a DMV transfer form 262 and release of liability form also know as a DMV trade pak.. Have the seller, and you sign the transfer form, and him releasing liability on both the DMV form and a seperate doc to cover your a$$.. So when you sell the car, all you need is to transfer the ownership from him to new owner or from him, to you, then to him.. DMV charges only $15.00 for each transfer.. Either way you do it, as long as there is a chain of transfer you can legally sell the car as many times as you wish... But "DO NOT" sign or date the title!!!!!! Once you have someone sign it or date it your fucced!! If your intention is to sell the car after you purchase, then don't even date any of the forms until you finalize your sale... You should incorporate a seperate Bill of Sale for yourself to cover any problems and headaches, so agreements, promises are in writing, and laws won't be broken.... Call me if you need help, I have all the papers to make it a smooth transaction...

818-266-6257
Rommel

UmarS2K

^^^Generous man.















What's the catch?

lookuphere

Thanks Rommel!!

I appreciate your very useful and informative post. Thanks for making things super clear and I'll stop by the DMV to try and get those forms on Monday. Definitely appreciate your offer to call you up for the forms. I'll try the DMV first, and if they are of no help to me, I'll have to other you for a bit


Hope this post helps out some more people in the future

Currahee474

Word. Rome is the man.

dwnshft & xlr8

Thnx Zach.....