Buying or Selling a Car? Don’t Forget These Critical Steps

Buying or selling a car can be a complicated process. You need to find the right buyer or seller and find a price you both agree on. Once you’re both on board with the offer, though, there’s a lot you need to do to make sure the sale is official and legal. Failing to do vehicle paperwork correctly can delay the sale or create problems transferring ownership. Before the keys change hands, both parties should make sure the paperwork, title, and registration steps are handled correctly. Taking care of these details helps prevent delays and protects everyone involved.

Set Yourself Up for a Smooth Transaction

Before you sign any paperwork, prepare a list of questions and make sure you get all the information you need to feel confident about the sale. Buyers should review maintenance records, verify that the VIN on the vehicle matches the title, and ask about accident history. They should also take a test drive before signing anything and consider having the vehicle inspected so they can identify potential problems before completing the purchase.

Sellers can prepare themselves for these requests by gathering this information ahead of time so the title and maintenance records are readily available. They can also help the sale go smoothly by cleaning the vehicle, removing personal belongings, and having important documents ready before meeting with the buyer. A little preparation from both sides can help the sale move forward with fewer surprises.

Make Sure the Paperwork Is Done Correctly

Paperwork done incorrectly can delay the process of transferring ownership, so double check your work and make sure you have all necessary documents and information ready to go. Both buyers and sellers should also keep copies of their filled out paperwork and keep it filed somewhere safe.

Before signing the title, both parties should double-check that all information is accurate. If the title lists more than one owner, every owner needs to sign before the transfer can be completed. Sellers should also remove their license plates and any parking or toll stickers before handing over the vehicle. Once this is done, buyers can apply for a new title, registration, and license plates in their own name.

It’s important to remember to bring your government-issued ID when you’re completing your title and registration services. Don’t wait too long to complete these steps after the sale to help yourself avoid unnecessary delays.

Want to learn more about why so many Illinois drivers choose this option? Read about why currency exchanges are a great option compared to the DMV.

Don’t Skip the Final Steps After the Sale

Once sellers have signed their paperwork and removed their plates, their part of the transaction is nearly complete. They should also keep a copy of the bill of sale and any completed paperwork for their records in case questions come up later.

Buyers still need to complete a few more steps to legally be on the road with their new vehicle, like registering the vehicle, transferring the title, and obtaining plates if necessary. They can go to a Secretary of State Facility like a DMV for these tasks, but many Illinois drivers choose a local Community Currency Exchange Association (CCEA) member location instead because they can complete multiple vehicle services without making an appointment. If you have questions about the paperwork you’ll need, you can call your local CCEA location to confirm the requirements before visiting.

Buyers should also remember to update their car insurance before they ride their new vehicle. If they didn’t own a car before, they’ll need to get a totally new insurance plan and avoid driving until the plan is active.

Finish the Sale the Right Way

Buying or selling a car is exciting, but taking care of the paperwork is just as important as finding the right buyer or vehicle. Once you’ve agreed on the sale, make sure everything is completed correctly. Make your transaction official by visiting your local CCEA member location today.