How to Sell a Car in New York
Are you looking to sell your current vehicle in New York? Now is an excellent time for car sellers to get a great deal on their used vehicle. Selling your car in NY is a pretty straightforward process, but there are some steps that require careful planning and it can take some time – especially if you’re selling your vehicle on the private market. Learn how to sell your car in NY with Ford of Latham below, or contact our team to bring your vehicle directly to our dealership and sell it in one day!
Steps to Selling Your Car in New York State
Whether you live in Troy or Schenectady, you’re looking for an efficient way to sell your current vehicle. Selling your car on the private market comes with many benefits, but there are some steps you need to follow to ensure the process is done right and that the documentation is legally binding. We’ve broken down the process into seven easy steps for your convenience. Learn how to sell your car in New York state below:
- Organize Your Documents: Locate your vehicle’s title, maintenance record, owner’s manual, and any other documents related to your car. In New York State, this will include a current safety and emission inspection report. New York law states that vehicles cannot be registered unless the DMV has recorded that the vehicle passed the required emissions inspection within the last 12 months.
- Present Odometer Readings & Damage Disclosure: In New York, it’s required that the seller discloses the condition and current mileage of the vehicle to potential buyers. If your current vehicle title does not have an area to disclose this information, you may use New York DMV form MV 103.
- Allow the Buyer to Have the Car Inspected: Most car buyers will want to have the vehicle inspected by a licensed mechanic before they purchase it. This is a service the buyer typically pays for, but the buyer and seller must agree on when and where the inspection will take place. Before the inspection, make sure to clean your vehicle thoroughly and replace small parts (floor mats, windshield wipers, etc) to increase the vehicle’s value.
- Get a Bill of Sale: The NY DMV offers Bill of Sale form MV-912 for car sellers. Having a Bill of Sale is helpful if problems arise when the buyer has the title transferred or has the vehicle registered in their name. In New York state, a bill of sale alone is not an acceptable proof of ownership without other documentation. Even when the vehicle is a gift, the “buyer” must sign the Bill of Sale and indicate a price of “$0” and fill out the Statement of Transaction form DTF-802. The bill of sale will include the year and make of the vehicle, vehicle identification number (VIN), date of sale, purchase price, legal full names and signatures of the buyer and seller.
- Transfer the Title: The buyer must fill out the and sign the transfer section of the proof of ownership on an original New York State Certificate of Title. The information listed on the title cannot be altered or erased. If it is, the seller will need to order a replacement title. The New York DMV has posted their registration and use tax fees online.
- Fill out a Statement of Transaction: The buyer and the seller must fill out a Statement of Transaction form DTF-802. This is then submitted to the New York DMV where sales tax is calculated and collected from the buyer. Vehicles that are gifts are exempt from sales tax. Finally, the buyer will submit Vehicle Registration / Title Application form MV-82.
- Remove Your License Plates & Registration Sticker: Before you hand over your vehicle, make sure to remove your license plates and registration sticker from your windshield. Then, turn them in at a DMV office as soon as possible, unless the license plate is transferred to another vehicle. If you do not properly dispose of the plates and registration sticker, you (as the seller) may be charged with traffic or parking violations performed by the buyer.
Benefits of Selling Your Car to Ford of Latham
While selling your car on the private market has its positives, it is also a time-consuming process. Your car may be on the market for weeks or months depending on how it’s advertised. A great way to save time and get behind the wheel of a new vehicle is to sell your car to a dealership like Ford of Latham.
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