Buying A Car From A Private Seller
A private seller is any person who is not a dealer who sells or offers to sell a used motor vehicle to a consumer. Under Massachusetts law, anyone who sells more than three cars in a one-year period is considered a dealer and must obtain a used car dealer license from their municipality.
buying a car from a private seller
The Massachusetts Lemon Laws require private parties selling used cars to inform buyers about all known defects which impair the safety or substantially impair the use of the vehicle. The law applies to all private party sales regardless of the price or mileage. Private party sellers are not required to repair the vehicle after it has been sold.
The seller must refund the amount you paid for the vehicle, less 15 cents per mile of use. If a private party seller refuses to cancel the contract within 30 days of the sale, you should consult with an attorney to determine whether to pursue the matter in court. Find for tips and resources to find lawyers.
If a private party seller refuses to cancel the contract within 30 days of the sale, consult with an attorney to determine your best course of action. Lemon Law arbitration is not available for private party sales.
Registration fees are included in Lemon Law buybacks from dealers, but private sellers are only legally required to return the money you paid to them. If you have taken the steps to void or rescind a private sale, contact the Registry of Motor Vehicles to see if you may be eligible for a refund of registration charges or other fees.
Whether you are buying your vehicle at a dealership, in a private sale, or from a family member, or if you are leasing, you will need the following to register your vehicle and drive it on public roads in Michigan:
If you are purchasing a vehicle through a dealership, a secure bill of sale will be used. If you are purchasing a vehicle from or selling a vehicle to another private party, the buyer needs a Bill of Sale.
If buying from an individual, have the seller accompany you to the county tax office to avoid unwanted surprises. Before submitting the title application, a tax office representative can tell you if the title being signed over to you is correct and if it has any salvage or legal issues. You can also use Title Check to see if the title of the vehicle you are thinking about buying has any issues impacting its value.
Keep a written record that includes the name and address of the seller, date of sale and vehicle information, including the VIN. Failure to title a vehicle within 30 days from the date of sale may result in delinquent transfer penalties.
If the transaction takes place on a Saturday or Sunday and the seller chooses to remove their license plates and registration sticker from the vehicle, you will need to download Vehicle Transit Permit. This will allow you to legally drive the vehicle to the county tax office, or if the county tax office is closed, to a place of your choice. This permit is valid for five calendar days and only one permit may be issued per vehicle sale.
If buying from an individual, a motor vehicle sales tax (6.25 percent) on either the purchase price or standard presumptive value (whichever is the highest value), must be paid when the vehicle is titled. The title, registration and local fees are also due. Contact your county tax office to estimate the amount of sales tax due and to learn which forms of payment are accepted. Acceptable forms of payment vary by county.
Regardless of where they are making a purchase, consumers need to know how to protect themselves from a fraudulent deal. An unscrupulous seller may try to get rid of a stolen vehicle, tamper with an odometer by rolling back the mileage, alter a title, or sell a car with extensive water or collision damage that has not been properly repaired.
Buying a car from a private seller can save you money because you could have a better chance of negotiating than you do with a dealer. Once you've found a car and negotiated your price, call (800) 462-8328, ext. 8250 to find out the best way to complete your purchase.
If you find a compelling car deal across state lines, understanding how the buying process works can help make the transaction as smooth as possible. While buying a car out of state from a private seller will typically require a little more research and planning, you might just end up with a deal you may not have found otherwise.
Oh, and, by the way: PrivateAuto has private-party used vehicles for sale in California and also provides an end-to-end platform to get the deal done, from secure messaging with sellers to instantaneous payment transfers.
Other used vehicle marketplaces leave you to organize a meetup with the seller by exchanging personal info and having a lot of back-and-forth. With PrivateAuto, your personal info is kept private. Our handy in-app scheduler allows the two of you to arrange the perfect time and place.
The key component of the entire transaction is transferring a California car title from seller to buyer. When the seller signs the title and hands it to you, the vehicle is legally yours. There are still some steps remaining for you to take following the title transfer, but you now own the car.
A car loan for a private sale can help you buy a car from an individual when you can't cover the purchase price upfront. When dealership cars aren't exactly what you're looking for, a private party auto loan allows you to expand your search.
Many banks, credit unions, and online lenders offer financing to help people buy vehicles from private sellers.* You may want to expand your search to include national, regional, and local financial institutions because you never know where you might find the best deal on a car loan. Everyone is familiar with banks, but you might not know as much about credit unions or online lenders. You might be surprised to learn that some credit unions allow anyone to join in exchange for a small fee. You may also be eligible to join a credit union based on where you live or your employer. Online auto lenders are companies that don't have physical branches. You'll handle the entire application process online, and you can usually get help by phone or email if you need it.
Lenders will qualify you for a private sale auto loan based on your credit history, financial profile and the vehicle you want to buy. These are the same criteria lenders use when you want to borrow money to buy a car from a dealer. There are multiple factors to be aware of:
Besides paying cash, a personal loan could provide the money you need to buy someone's car. Personal loans also have minimum amounts you can borrow. The minimums vary by lender and by state but can be as low as $500 or $1,000. An unsecured may have a higher interest rate than a private sale auto loan, which is secured by the car you're buying. "Secured" means the car is collateral for the loan; if you can't repay your loan, the the lender can take your car and sell it to get back the money you still owe.
Buying a used car from a private seller may save you money compared with purchasing the same model at a dealership. Without a dealer to prepare paperwork or take care of specific tasks, you should expect to handle the purchase process independently. When you buy a used car from an independent seller, be prepared to take care of the following:
A car manufacturer may recall vehicles to repair or replace a part that may be unsafe. While manufacturers may notify car owners of the recall by mail, you may not receive these notices if you buy a used car from a private seller. You can check for recalls online by visiting the National Highway Transportation and Safety Administration (NHTSA) website. If you find a recall on your vehicle, you should take immediate steps to repair your car.
When buying a car from a private seller, one of the most important things to do is to set a budget. This helps ensure you do not overspend on the vehicle and end up in financial trouble. There are a few different ways to go about setting a budget.
If you are buying a vehicle, ensure the seller has completed in their entirety both the seller and purchaser sections on the certificate of title before visiting a branch to apply for a new certificate of title. The seller should remove the license plate from the vehicle at the time of the transaction. The purchaser is responsible for obtaining a new certificate of title, registration and license plate.
In buying an automobile from another person, the onus is pretty much on the buyer to make sure the transaction works out. However, if you work with a lender like Credit Union of Texas, we will walk you through it. So if you want a trusted partner for your vehicle purchase from a private seller, call us!
If you buy a defective vehicle, the car dealership you purchased from is responsible for your repairs under the Arizona Lemon Law. However, this law does not apply to private purchases or vehicles sold at a public auction. So, do not be swayed if a potential seller mentions the Lemon Law in your discussion.
You have important questions about the car you want to buy. Take your time to ask them and go through the steps needed to make an informed decision. Here are the steps to follow when buying a used car from a private seller.
Shopping for a used car these days can be a good experience. As the buyer, you hold all the cards. If you have had an unpleasant experience buying from a dealer, consider purchasing a used car from a private seller.
Finally, in normal times, you may be able to see and test drive many used vehicles in stock at a dealership. If you are buying from a private party, there is only one car for consideration, so finding the right vehicle to purchase may require more of your time.
Good used cars are like a good melon. You have to touch and feel it to know. However, you can start your quest online. Whether you prefer Craigslist, a local version of want ads on Facebook or other social media platforms, or are buying from a friend or relative, you need to see the car and do your homework to determine if it is a good car or a bad car. 041b061a72