Posted Thursday, September 1, 2022
Whether you’re replacing your vehicle with a new or a used one, some moving parts can cause difficulties. A common question is whether it is possible to sell a car if the title is not in your name. This step-by-step guide will help you make everything right.
The title is the main proof of ownership, and it links the vehicle to the seller’s name. In addition to granting authority to sell the car, the title is used to determine who is legally responsible for it. This means that if you sell a car without transferring the title, you are still responsible for everything that happens after the car leaves your possession. Moreover, if you try to sell it without your name in the title, you may face fines and imprisonment, as this is illegal.
The process of car ownership transfer is similar to buying a car in Indianapolis. Both parties must put the date of transfer, sign the title, provide odometer information, apply for a new license, and pay the transfer fee. The fee is usually $95. Read also about Indiana car sales taxes. This procedure is required even if you are transferring the car to one of the family members. And if the buyer wants to keep the same plate, he will need permission from the previous owner. In Indiana, you can either transfer ownership online or in person at any Bureau of Motor Vehicles (BMV) location. You can also mail all the papers, including a completed application for a title, a copy of ID, and the fee to the main BMV office in Indianapolis.
Each state has its requirements for the transfer of ownership. In Indiana, the paperwork should include:
Most buyers will not buy a car without a clear title. When your vehicle is still financed, you don’t have full ownership of it. If you can pay off the loan, learn if there are any prepayment penalties and find out the approximate time you will receive the title. Another option is to sell your car to a dealer in Indianapolis online or offline. This way, you can let them craft the most advantageous payment plan and do all the paperwork for you.
If you inherited a car from a deceased owner, you can also transfer ownership. The laws vary in every state, but you will need a copy of the death certificate, vehicle title, letters of administration, hold-harm agreement, and a transfer fee.
Selling a car that is not in your name to a reputable used car dealership, like Indy Auto Man, Indianapolis, makes moving easier. The sales representative makes sure you have all required documents and contact the DMV agent, who conducts a property check to verify all information. And then you will be able to sell the car with a new title and your name on it with no headache.
Contact us right now if you want to sell your car in Indianapolis!