How To Buy a Used Car From a Private Party
If you have been browsing the ads on Craigslist or eBay Motors, you may have found a vehicle that you want to purchase. Purchasing a vehicle from a private party is a little different than purchasing a car from a dealer. Dealers will complete most of the paperwork for you. When you are working with a private individual, you need to complete the paperwork.
- Test drive the vehicle and make sure that you are comfortable with your purchase. You may even want to have a mechanic check it out to make sure there are no major problems.
- Check online sites to make sure you are being offered a fair price for the vehicle. To find the value of a vehicle go to Kelley Blue Book.
- Ask to see any documentation for repairs or maintenance on the vehicle. You will also want to see the title before giving the individual any money.
- Agree to a purchase price and pay the individual.
- Sign and date the title at the bottom. Have the seller sign and date the title also. He or she needs to remove the perforated section and send it in to the state.
- Call your car insurance company to let them know you have purchased a new vehicle that needs to be added to your policy. As soon as you let them know, there will be instant coverage. You don’t want to have an accident on the way home and not have it covered on your insurance policy.
- Take the title to a license facility in your area. You can find businesses that prepare licenses by searching the listings on MerchantCircle.
- Put the temporary license on your vehicle and wait for your new plates to arrive in six to eight weeks.