Overhaulin'

deal to sell a car by taking cash and notarizing a car bill of sale.?

Hi, I have put my car for sale in NJ and this guy from PA calls me that he is interested in buying my car. And he can pay me only in cash. And also since he is in PA and the car is in NJ, he suggested that after I take the money, sign a car bill of sale and get it notarized. Remove my plates, handover the car and title to him. He will take the title and car to PA and get the car registered on his name. Everything looks perfect and I feel it will be done all legally as its notarization. Could you pleade advise me if I am falling into some scam or if there is any legal loophole in this. 1. Can I sell my car for full cash? Do I need to get it checked ina bank if they are counterfieted ones? 2. After notarizing the car bill of sale, can I handover the title just like that? Or is there something else to look for? 3. If anything happens to the car after he started owing it (on the way to PA), will I be liable to any? 4. Is there a legal format for car bill of sale? thanks

Public Comments

1. Make sure you can give him a clear title, meaning you don't have any liens against it or that you don't still owe money for it. If you do owe on it, then go to your lender and have everything notarized there and then he can pay you the cash and you can pay off the loan or lien. They will have to give him a lien release in order that the title can be put into his name. Having the bank make sure the cash is not counterfiet is a good line of defense....I wouldn't have thought of that myself. If he's on the up and up, he'll have no problem going to the bank with you to get the notary and all that. Everything else should be fine after that.
2. 1 - Yes, you can sell your car for cash up front. (I sold one of my older cars for cash). It would be a good idea to take the cash to the bank and have them check it before you hand over the title, or go to an office supply store and buy a counterfeit-checker pen. 2 - As long as the cash checks out, you can sign the title over into their name and both of you should sign the bill of sale. You should each keep a copy of the bill of sale. 3 - After the car leaves your property it is completely his responsibility. You might also want to put on the bill of sale that the car is being sold "As-is" meaning that if anything is wrong with it now or in the future, it's not your problem. 4 - There isn't really an official format for a bill of sale. It should just say something like: "This bill of sale has been created to document the sale of the (Year/make/model of car) with (###) miles on it from (Person A) to (Person B) for the amount of ($$$) dollars. The vehicle is in used condition and is being sold as-is, seller assumes no responsibility for any kind of damage or malfunction of vehicle." Both of you should then sign it and get it notarized. You might have to wait and sign it in front of the notary - I'm not sure.