If you’re thinking about selling your vehicle in New Jersey, you’re probably also thinking about the documents and paperwork that you’ll need to do it right. You do have a few documents to think about, but the process isn’t too overly complex. Here’s what you need to successfully sell your car to someone else and then eliminate all of your responsibility to the vehicle:
The Vehicle Title
The title is the main document that you will need to concern yourself with. You will need to obtain an original one that is free of liens on it. You can get a copy of yours by visiting a New Jersey DMV and requesting such a document.
When you have a free-and-clear title in your hands, you can then sell it to someone else. You will need to sign the back of it to sell it officially and then complete any other information the form asks you to complete. One thing that you will have to fill in is the odometer reading. Make sure that you get a true reading of this information so that the governing authorities have it. You will also need to write the buyer’s name and address information on the back of the title. You’re ready to move on in the process once you have submitted that information.
Bill of Sale
There may be some circumstances where the buyer will ask you for a bill of sale form. You can give it to him as a courtesy because he may need it for his personal records. It’s just a document that states the acknowledgment of the transaction, the amount, the names of the parties involved and the dates that the transaction occurred. You can use a professional receipt, or you can write this information down on a regular sheet of paper. You could always take it to a notary public if you need to make it seem as if it’s more official. There are also third-party sites that sell bill of sale forms that you can print and use. It’s really your preference that makes the difference.
The vehicle buyer will have to pay taxes on the sale unless the vehicle is somehow exempt from such taxes. New Jersey has a variety of situations that can render a car buyer exempt from payment of taxes. One exception is if the vehicle is a gift. The gifter would need to provide the buyer with some proof that he could take to the DMV to show the vehicle is indeed a gift. If everything goes smoothly after that, the person can just show someone at the DMV the proof and be exempt from paying those sales taxes. You can provide documentation if you are giving the car to the person as a gift.
Your Tag Responsibility
You will be responsible for taking your tags and your items off and out of the vehicle before you allow someone else to have ownership of it. What you’ll need to do is take your license plates off the car and then return them to the nearest DMV if you are not going to transfer them to another vehicle. That way, you will not be held responsible for anything that happens once the other person takes physical possession of your car.
Now that you know how to sell your car in New Jersey, you’ll want to start your process as soon as possible. Many buyers will want to take your car and make it their own. Follow the tips mentioned above so that your transaction can go well.