How To Sell A Car In Maine
If you live in Maine and you want to know how to sell your car then take a look at some information I’ve gathered for you. When you sell a car you need to produce that car’s title and provide the bill of sale and an accurate odometer reading. Those are the main documents that legalize a car sale. So, before anything else you need to make sure you have the car’s title. If you don’t, you will need to ask the state of Maine for a new one and that usually takes some time and involves filling some application forms that you can get from the local DMV.
Another problem you may have with the car title is related to bank loans. In the state of Maine you can’t sell a car if on the title a lien is specified and you can’t prove you have dealt with it. So, you should check this aspect as well before putting the car for sale. If you financed your car through a loan and you have finished paying it, then on the front of the title you should have a signature and a stamp from the bank in the reserved area. To prove you have covered the loan you can also use an official document released by the bank that says the loan was paid.
To confirm the sale and transfer the car’s title to the new owner you will have to fill a new car title with the details of the buyer and sign on the back of the new title. If you’re not the only person listed as the car’s owner, the other owner will also have to sign on the title’s back, next to your signature.
The next step involves the bill of sale that is as important for both you as a seller and the buyer. This is mandatory in the state of Maine and has to include details about the vehicle you are selling: the VIN (vehicle identification number), the year when the car was manufactured, its make and model, the mileage displayed by the odometer when the sale takes place and the price upon which you agreed with the seller. You will also have to specify your name and address, the buyer’s name and address and the date when the transaction takes place. To make it official, the document needs to be signed by both the seller and the buyer who listed their name on the bill of sale.
Once you make sure all the papers are correctly filled you should pass the title and the bill of sale to the buyer and also the lien release (if it was necessary). Don’t forget to keep a copy of the bill of sale and place it safely. You never know what can happen! The moment the documents are done, you should make sure the buyer doesn’t drive away in the car with your Maine license plates, especially if you want to use it for your new car. If you plan on reusing the plates, you should inform the DMV of the plate transfer the moment you register your new purchase. Otherwise you will have to hand over the plate to the DMV and fill a cancellation form.
Now you know how to sell a car in Maine privately, but you should know that you also have the option to trade-in the car or sell it to a dealership. The only problem is that the price tag offered will be most of the times lower than you would like. But that shouldn’t stop you from trying!
Post tags: Tags: automotive articles, how to sell a car in maine