Other marketplaces leave organizing the meetup up to you and the seller. That requires exchanging personal info and having a lot of back and forth. We keep your personal info private and secure. Our in-app scheduler makes it easy for you and the seller to find the best time and place to meet.
Transferring the title from the seller to the buyer is the most crucial phase of the entire transaction. The vehicle is legally yours once there is a seller's signature on the document and they hand it to you. After transferring the title, there are a few more steps to complete before the car is legally yours.
To protect yourself from fraud, the North Carolina Department of Justice suggests looking up the title of a used car you might buy on the National Insurance Crime Bureau website. It doesn't happen often, but sellers will occasionally try to mislead or outright deceive. They might try to pass off a salvage title as a clean title, for example.
For used cars, including those bought from private sellers, there are third-party providers who offer extended warranties. These providers may offer a variety of coverage options and prices, so it's important to carefully read the terms of the contract and compare prices and coverage before making a choice.
Note that in addition to the title, you will also need to provide the buyer with a completed Damage Disclosure Statement and have them sign it to acknowledge it accurately reflects the current condition of the vehicle. The seller should also remove his license plates from the car before handing it over to the new owner. It is generally a good idea to include a bill of sale for both parties to keep additional records of the transaction, though it is not legally required.
When buying a car in North Carolina, you must obtain certain documents from the seller in order to register and apply for a title in your name. The documents that you need include the bill of sale and vehicle title. You will use these documents to register and title the car you have purchased with the North Carolina Division of Motor Vehicles (DMV). If you buy a car from a vehicle dealer, they will handle the required paperwork for vehicle registration and titling for you. However, if you buy from a private seller, you will need to obtain certain paperwork from the seller in order to register the vehicle in your name. Continue reading this article to get more information about the paperwork required when buying a car in North Carolina.
The good news is you can gift a vehicle to a family member, but you need to make sure you have the proper documentation. If you received the vehicle as a gift, or the vehicle is being transferred from a relative, you must complete a vehicle title transfer at your local NC DMV branch. For this scenario, you will follow the same steps as you would when you are buying or selling a vehicle in North Carolina.
Buying a used car from a private seller may save you money compared with purchasing the same model at a dealership. Without a dealer to prepare paperwork or take care of specific tasks, you should expect to handle the purchase process independently. When you buy a used car from an independent seller, be prepared to take care of the following:
A car manufacturer may recall vehicles to repair or replace a part that may be unsafe. While manufacturers may notify car owners of the recall by mail, you may not receive these notices if you buy a used car from a private seller. You can check for recalls online by visiting the National Highway Transportation and Safety Administration (NHTSA) website. If you find a recall on your vehicle, you should take immediate steps to repair your car.
Choose a private party auto loan offer and follow through with the paperwork. The exact terms of your loan will depend on the final amount you borrow. Your lender can help you finalize the loan and get the money to the seller. They may send you a check to sign over to the seller or they may deposit cash into your account.
Many financial institutions from national banks to local credit unions offer private party auto loans, including Bank of America, First Credit Union and LightStream. But not every lender does. Capital One, Wells Fargo and Chase only offer car loans through dealerships.
If a car you buy turns out to be faulty, your rights and options largely depend on who you bought it from and how they described the car. You have less legal protection when buying from a private seller or from a car auction than when buying from a dealer.
When a person buys a used vehicle from a dealer, they are protected by state and federal consumer protection laws because the dealer is a business. However, when a person buys a vehicle from a private seller, the vehicle is sold "as is," meaning without warranty, unless otherwise noted in a contract signed by the seller and the buyer.
There's nothing inherently wrong with that idea but compared to buying a car within your state of residence, the process is more complicated and time-consuming. So, before you learn how to buy a car from another state, it is worthwhile to understand why you might want to do that and what the ramifications are.
One reason to consider buying a car from another state rather than your home state is the opportunity to purchase a model that is not available locally. Maybe it is a new car with a combination of equipment and color that is not in stock in any dealership in your state. Or perhaps it is an antique, classic, or special-interest vehicle that is so rare that finding one just like it for sale in your state is just an impossibility.
You may also consider buying a car from another state to save money. There are regional differences in new-vehicle pricing and manufacturer incentives, so a car with no incentive available in your state might have a lower price and a rich incentive on it elsewhere.
Finally, a third reason to consider buying a car from another state is that online buying services like Carvana, Vroom, and Shift are making it much easier to find out-of-state vehicles you might want to buy. They take the hassle out of the process as well.
With that in mind, it is wise to be confident that buying a vehicle from out of state will be a better move for you than purchasing a vehicle from a local dealer or a private party in your state. If you live in a big urban area in a populous state, the odds are you'll be able to find a car that meets your expectations without venturing outside the state boundaries. That being the case, you would have to save quite a bit of money to justify the extra steps involved in buying it out of state.
One of the most significant drawbacks of buying a car from another state is the distance between you and the vehicle. Should you live close to another state, crossing the state line is easier. But for many car buyers, the distance can be an obstacle. After all, we heartily advise seeing and test driving the vehicle before you buy it.
Scams are also a complication of buying a car long-distance. Fraud involving vehicle sales is a significant and growing problem. If a classified listing for a used car appears to offer the vehicle at an unbelievable bargain price, you are well-advised to believe the listing might be the front for a scam. You send money with the expectation that the car will be delivered to you, and you never hear from the seller/scam artist again.
If you are buying the vehicle from a dealer, the dealer will likely help you with the details, like paying the sales tax to the proper authorities and getting the registration and titling completed. But if you are buying from a private party, it is all on you.
State sales tax requirements for purchasing a used vehicle vary. For example, some states have no sales tax requirement if purchased from a private seller. Or, in some states, car sales tax is calculated after the value of a trade-in car is subtracted from the sale price.
If you purchase from a private seller or a dealership that doesn't pay this for you, contact your local county tax office or DMV for sales tax obligations (including the deadline from the date of sale to pay it).
Do not buy a vehicle from an individual unless the seller has the title to the vehicle in their name and can give it to you at the time of sale. Always be sure the vehicle identification number (VIN) on a title matches the vehicle identification number on the vehicle. The vehicle odometer reading must not be less than the odometer reading on the face of the title.
When a motor vehicle is sold or transferred, the odometer reading must be recorded in the assignment section of the title by the seller. If the title does not include this section for this purpose, the seller may record the mileage on an odometer statement on a form available from DMV.
Buying a used car from a private seller may be more complicated than purchasing a certified pre-owned used vehicle from a dealership. Although both methods require a bit of research, buying from a private seller requires a more hands-on approach to make sure you are getting a reliable vehicle. Here are the basic steps that you might follow when purchasing a used car from a private seller:
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