- #Car bill of sale illinois template how to#
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If you need help with a release of liability form for a car sale, post your legal need on UpCounsel's marketplace. Keep the car's title out of sight until you receive payment. Have all paperwork ready for the test drive in the case the buyer wishes to purchase the car. If possible, ask a friend or relative to join you for the exchange. Always accompany them on the test drive no matter what sort of collateral they leave with you in exchange for driving it. Only meet prospective buyers in a public area during the day, such as a grocery store parking lot or close to their bank.
#Car bill of sale illinois template license#
It's also a good idea to see the potential buyer's driver's license before allowing them to take the car for a spin.
#Car bill of sale illinois template drivers#
Make sure your insurance coverage extends to other drivers before inviting anyone to test drive your car. Cash, money orders, or bank financing are preferred methods of payment as a check can bounce, leaving you with no money or car. It's best to meet someone who is serious about purchasing a reliable vehicle in person. This also gives the buyer a chance to ask questions.īe wary of anyone offering to buy the car sight unseen. You'll be able to ask about payment options and whether they have financing squared away. Insist on only speaking to serious buyers over the phone before scheduling an in-person meeting and test drive. It's important to protect yourself when selling a car, and that starts with screening potential buyers.
#Car bill of sale illinois template how to#
How to Protect Yourself When Selling a Vehicle
#Car bill of sale illinois template download#
If your state requires you to submit a release of liability form, you can usually download it online from the DMV's website or pick it up in person.
The reading on the odometer at the time of the saleĬontact your local DMV office for specific details about what information you will need to provide. The vehicle identification number (VIN). The name and contact information of the person who purchased the car. In general, you must provide the following information on a notice of transfer or release of liability form: Most states make it easy to submit the release of liability form online or via mail, but you may have to visit the office in person to complete the paperwork. Submit a release of liability form before canceling your auto insurance on the car. How to Release Your Liability After a Car Sale Depending on your state, you may also need to surrender your license plates after selling the vehicle. The last thing you want is to leave yourself open to damages if the buyer gets into an accident or has a traffic violation while the car is still in your name.Įven if your state doesn't require a post-sale notification, it's still a good idea to inform the county clerk's office or DMV. You must file the proper form within a certain number of days after selling the vehicle, so be sure to complete the task in a timely manner. When in doubt, contact your local DMV office and inquire about a notice of transfer or release of liability form. Which office you'll need to contact depends on where you live. Most importantly, you must notify the Department of Motor Vehicles (DMV), the county clerk's office, the secretary of state, the Department of Revenue (DOR), or the Motor Vehicle Administration (MVA) with a release of liability form or a notice of transfer. Once the car is sold, it's also important to cancel the auto insurance policy to cut all remaining ties to the vehicle. As a seller, you must create a bill of sale and properly transfer the car's title. If they get into an accident and the vehicle is still titled and registered in your name, you can be responsible for the damages. When you independently sell a vehicle, you're at risk if the person who purchased it keeps the car in your name. Filing a Release of Liability Form After a Car Sale This form notifies the local Department of Motor Vehicles' office that you've sold the vehicle and releases you from any liability. Most states require a release of liability form for a car sale. How to Release Your Liability After a Car Sale 3. Filing a Release of Liability Form After a Car Sale 2.
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