| Posted by | Message |
NattyLite 
LSU Fan
St. Charles Community
Member since Jan 2010
1543 posts
| Selling a truck (Posted on 1/15/13 at 7:29 am)
I plan on selling my truck to another individual next week. Can anyone explain to me exactly what has to be done. I never sold one before and am clueless to this issue. I still owe a little on the truck if that makes a difference. Thanks
This post was edited on 1/15 at 7:34 am
|
| Back to top | Share on  |
Vols&Shaft83 
Tennessee Fan
Member since Dec 2012
3278 posts
 Online
| re: Selling a truck (Posted on 1/15/13 at 8:15 am to NattyLite)
Sorry, couldn't resist
|
| Back to top | |
XanderCrews
LSU Fan
Member since Mar 2009
236 posts
| re: Selling a truck (Posted on 1/15/13 at 8:44 am to NattyLite)
Agree on price. Make a bill of sale stating that you sold it to said person and for what price. Make sure the vin is on it and keep a copy of this forever. IN case the DMV comes looking for anything.
Take title to a title shop and sign over to said individual. Make sure he has gotten insurance for the vehicle. They will do all of the paper work and take your license plate. i would keep all the paperwork as well.
|
| Back to top | |
NattyLite
LSU Fan
St. Charles Community
Member since Jan 2010
1543 posts
| re: Selling a truck (Posted on 1/15/13 at 8:54 am to XanderCrews)
A title shop as in the DMV or no?
|
| Back to top | |
XanderCrews
LSU Fan
Member since Mar 2009
236 posts
| re: Selling a truck (Posted on 1/15/13 at 9:19 am to NattyLite)
Im not sure even if the DMV does it. I only go there for license renewals. I am not endorsing this company but this is who I used.
LINK
|
| Back to top | |
MikeBRLA
LSU Fan
Baton Rouge
Member since Jun 2005
8716 posts
| re: Selling a truck (Posted on 1/15/13 at 9:45 am to XanderCrews)
quote:
Take title to a title shop and sign over to said individual.
Someone please correct me if I'm wrong but, this is where you are going to run into an issue. You said you owe money on the vehicle which means you don't have the title, you lean holder does. You are going to have to deal with paying off you lender as well.
|
| Back to top | |
MikeBRLA
LSU Fan
Baton Rouge
Member since Jun 2005
8716 posts
| re: Selling a truck (Posted on 1/15/13 at 9:46 am to NattyLite)
quote:
A title shop as in the DMV or no?
As in a notary who does auto title work.
|
| Back to top | |
yellowfin 
Illinois Fan
Paige is Pretty
Member since May 2006
51922 posts
| re: Selling a truck (Posted on 1/15/13 at 9:48 am to NattyLite)
quote:
. I still owe a little on the truck if that makes a difference.
Bank you owe would be the place to start because they have the title
|
| Back to top | |
ashy larry
LSU Fan
Marcy Projects
Member since Mar 2010
3277 posts
| re: Selling a truck (Posted on 1/15/13 at 10:03 am to NattyLite)
quote:
I plan on selling my truck to another individual next week
Any chance you are buying a new vehicle from a dealership at the same time? If so you can do an 'in and out'. I did this when a friend bought my truck. The dealership charged him about $175 (7-8 years ago). Basically, they treated it as a trade in for me so I got the sales tax credit. They immediately sold him the truck for the trade in price.
|
| Back to top | |
NattyLite
LSU Fan
St. Charles Community
Member since Jan 2010
1543 posts
| re: Selling a truck (Posted on 1/15/13 at 10:21 am to ashy larry)
No just an outright sale. Ive done the transaction with the dealership before. Makes things much much easier. The problem is I financed through ford credit and not a local bank so that's where the confusion is occurring.
|
| Back to top | |
Lou
LSU Fan
out here in the middle
Member since Aug 2005
6686 posts
| re: Selling a truck (Posted on 1/15/13 at 3:28 pm to NattyLite)
quote:
Can anyone explain to me exactly what has to be done.
I've owned my vehicles out right, so every time I've sold one I just typed up a bill of sale, took their cash, signed the title, and gave them the keys. Since you still owe money on the truck, I suggest you call your bank and see how they handle it, I'm sure this situation arises often for them. Easiest way to handle is for you to pay off the truck and have the title in your hand when you are ready to sell.
|
| Back to top | |
WTIGER
LSU Fan
Baton Rouge
Member since Dec 2011
325 posts
| re: Selling a truck (Posted on 1/15/13 at 4:54 pm to Lou)
Make sure the bill of sale states SOLD AS IS.
|
| Back to top | |
