Can my friend sell my car on my behalf?
Can my friend sell my car on my behalf?
In California specifically, if you have a signed title for a vehicle and a bill of sale from the previous owner, you are allowed to sell the car at your own leisure. If your friend or family member really wants their car sold quickly without a long strenuous process, this is the best way to go about that.
Can I finance a car I buy from a friend?
If you purchase a car for someone else, you have the option to have the loan in your name or to cosign with the individual you’re buying it for. The only way to buy the vehicle as a surprise is to put in the loan in your own name. The title may be registered under both names.
Is it a bad idea to sell a car to a friend?
They can be tough customers, but handling the sale correctly will reduce problems. People seem to imagine that the car will conk out the day after the sale and your friend or relative will never speak to you again. That could happen, sure. But handling the sale correctly makes both of those things less likely.
How do I take over someone else’s car loan?
“When the registration and title are transferred to a new owner, the lender needs to be notified. The lender will then step in and require a credit check to make sure the new owner can make the payments. This leads to the initiation of a new loan at the new owner’s credit level.”
Can I sell my mom’s car for her?
No, you cannot do this, unless you have a power of attorney for your mother. If you do not, you would need to petition the probate court to become her conservator in order to legally sell her vehicle. If your mother has a power of attorney, going to court would not be necessary.
Can I sell my dad’s car?
If the will names you as the executor of the estate, you can legally sell the car. You’ll need to acquire the title to sell the car, too. Your state’s DMV website will provide details on how to acquire the title.
What do I need to buy a car from a friend?
Steps in Buying a Car From a Friend
- Inspect the Vehicle. You may know how well your friend cared for the car, but unexpected flaws or damage may exist.
- Inspect the Title. Before buying the car, confirm that the title is free and clear.
- Make the Purchase.
- Bill of Sale.
- Transfer the Title.
Can someone take over my car payments?
You just have to find someone that wants to take over your vehicle and loan. However, the process is much like getting a car loan. First, the lender has to allow assumption, then the new borrower must qualify for the existing loan. If they qualify, they sign a contract to assume the loan and it becomes theirs.
How do I sell my car to a friend?
The easiest way to sell a vehicle under another person’s name is to get the person (or persons) who are named on the title to sign it. This will effectively give you the ability to verify your ownership of the vehicle and to sell it.
Can I sell my daughters car for her?
Yes, you can. However, if you are selling a car on behalf of a relative or friend, we require that you also obtain a letter of authorization (i.e. Power of Attorney) from the registered owner of the vehicle. Payment and transaction details must match the owner’s name on the vehicle’s title.
How much should I say I paid for a car?
If you bought the car from an individual, then the price should be listed on the bill of sale. Most states charge sales tax based on the sale price OR the blue book value of the vehicle – whichever is higher.
What is the safest way to pay for a second hand car?
If you’re buying your next car from a private seller, there are a few different ways you can pay for it.
- Cash. If you decide to pay for your next car in cash, it’s a good idea to meet the buyer at a bank.
- Immediate bank transfer.
- Cheque or banker’s draft.
Can I gift my car to a friend in California?
Gifted Vehicles: Transfer or registration of vehicle received as gift. The car title has to include the word “gift” instead of the purchase price, and form REG 256 has to be completed. If you truly received a vehicle as a gift, you’re not required to pay taxes on it in California.
Can I trade a car that’s not in my name?
You can do one of two things to trade someone else’s car into a dealer: Bring the owner – Have the owner come with you to the dealership to sign the title over and put the value toward your next vehicle. Owner sells the car to you – The owner can fill out a bill of sale with you and sign the title over to you.
How do I sell my mother’s car?
If you mother is legally competent, you could have her sign a power of attorney which would give you her authority to sell the car. Or, you could have her sign the title over to you. If she is not legally competent, you would need to have a guardian appointed.
Can you sell a car if your not the registered keeper?
It’s actually entirely possible (and 100% legal) to sell a car and transfer ownership without a V5C document. Most people do not realise that the vehicle logbook is a record of the registered keeper, not proof of ownership.
What happens when you sell a car to a friend?
When you sign the title over to your friend, it releases your claim to the car. Bill of sale. It’s a good idea to make a bill of sale even though it might not be required by the DMV. It can serve as a record of the sale and the price paid.
How can I buy a car from a friend?
You can find out whether your state requires a notarized Bill of Sale by calling your state or county’s Bureau of Motor Vehicles. The back of the title certificate must be completed before you can take ownership. The title certificate contains spaces on the back so that your friend can write in the vehicle’s purchase price and odometer reading.
Do you have to sign the seller’s name when buying a car?
In the same vein as the previous tip, both buyer and seller signatures need to be on the correct lines. If the new owner signs in the seller’s signature spot, that is a problem. The title will need to be redone. All parties involved should read the fine print thoroughly before signing their names.
Do you have to sign a bill of sale with a friend?
Both you and your friend must sign the Bill of Sale. You may have to have the document notarized. You can find out whether your state requires a notarized Bill of Sale by calling your state or county’s Bureau of Motor Vehicles.