Paperwork for buying, selling, financing and leasing

tidester

One of our members wrote "I've tagged along with some people and seen the many forms they have to sign. You need a dictionary for some of the terms on these form. How about starting a forum where people post about the types of forms that have to be signed and what they mean? Perhaps scans of the forms (with the personal details whited out) could even be posted to show newbie buyers what kind of legalese and jargon is involved."

That sounded like a great idea so here it is! If you have questions, comments or can provide answers related to the paper monster, this is the place.

tidester, host
SUVs and Smart Shopper

prithis

This is a Bill of Sale format that I used while selling my used car to a private party. I am in Illinois. Nothing on the DMV's website suggested that I needed a Bill of Sale. However the buyer and myself agreed on this document (apart from the title) - the buyer wanted this because he wanted to have some proof of the purchase in case he got stopped by the cops for driving a car without plates, and I wanted this document so that I had a record of the sale together with an "As Is" warranty clause. We decided not to do the notarization that may be required in other states.

BILL OF SALE OF MOTOR VEHICLE
Dated:

Seller Information:

Name:
Address:

Buyer Information:

Name:
Address:

Motor Vehicle Information:

Make: ________________________ VIN: _______________________
Model: ________________________Color: ______________________
Year: _________________________Odometer: __________________

Price and Payment:

The full purchase price for the Vehicle is xxxx ("In Words" US Dollars). In exchange for the Vehicle, Buyer has paid Seller the full purchase price in Cash.

Warranty Information:

Seller declares the following:
a. That he or she is the true and lawful owner of the aforementioned Motor Vehicle;
b. That the aforementioned Motor Vehicle is free and clear from all claims of any kind;
c. That he or she has the legal right to sell the aforementioned Motor Vehicle;
d. That he or she will warrant and defend the title of the aforementioned Motor Vehicle against any and all lawful claims and demands of all persons.

Seller hereby notifies Buyer, and Buyer hereby acknowledges and agrees, that the Vehicle is being sold “As is”, without warranty of any kind, either express or implied, regarding the condition of the Vehicle. Seller assumes no responsibility for any repairs.

Buyer has inspected the aforementioned Motor Vehicle, and has accepted the Motor Vehicle in its existing condition.

Signatures:


SELLER ___________________________ BUYER _________________________

Date: _____________________________

calleaghn

I live in California and just bought a car on ebay from a New Jersey dealer. I am dealing directly with one particular salesman by cell phone. He has asked me to give him my social security number and a copy of my drivers license. I've never heard of this as a requirement for title transfer and I want to make sure it's on the level. Why would I need to give him all this info?

tidester

I would be very reluctant to provide a stranger with either my social security number or driver's license. That's an open invitation to identity theft. The seller has your cash and that should be sufficient for title transfer. Anyone else have a different perspective on this?

tidester, host
SUVs and Smart Shopper

Kirstie_H

well, if it is a dealer and the cash transaction is over $9,999, it's required.

calleaghn

since asking the question, i've gathered some more information. it seems that since 9/11 in order to transfer a car out of state, it need to be registered to the new owner and in order to do that they need to be sure of the new owner's identity. i called finally and talked to the dealer directly (up to now i'd only talked with one particular salesman on his private cell phone) and this was confirmed.
thanks for all your help everyone! i appreciate it mucho.
i bought a prius by the way. very excited! but that's another forum, isn't it? }

tidester

well, if it is a dealer and the cash transaction is over $9,999, it's required.

Yes, but we didn't know the purchase price and, even so, I would still be very reluctant to send my SSN and license without knowing a lot more about the dealer. But, that's just me! (And I would probably try a littler harder to find something locally.)

tidester, host
SUVs and Smart Shopper

volvomax

In AZ its required for all dealer transactions, no matter the price.

joel0622

People give us the SSN all the time when they write a check for a $3 part in service and freak when we ask for one on a $40K transaction :confuse:.

I would either have every bit of info I wanted or pass on a deal before I let a car leave going cross country.

prithis

The NJ rules are given here:

http://www.state.nj.us/mvc/pdf/Licenses/ident_ver_posterpint.pdf

Going by these rules it seems that in NJ they do need the SSN.

However, since the purchaser is in CA, perhaps the CA rules should apply too for registration

The CA rules are here:

http://www.dmv.ca.gov/pubs/brochures/howto/htvr9.htm

volvomax

Rules of the selling state apply.

keimanzero

In way of paperwork like personal ID and proof etc. what 'exactly' do we need to bring to the dealer when we close the deal? We are in PA. My bro's buying a 2009 Suzuki XL7 SUV and he's trading in a 2007 Jeep Liberty Sport SUV for it.

Driver's License
Ins cards
Registration

Besides all the crappy paperwork that came with the Jeep what else does he need?

Thanks-K&K and lbp in Brookhaven PA. :shades:

dtownfb

You may need your SS card. Otherwise, I think you got it.

volvomax

SS cards are never necessary. Unless you are new to the country and the lender needs proof that you are legal.

oldfarmer50

"...People give us the SSN all the time when they write a check for a $3 part..."

Why would you need a SSN for a $3 check?

justdoeh

Hey I'm from New York.
I want to sell my vehicle and I have done some online research on what I would need to do step by step.
I learned that I need to have both parties fill out a Bill of Sales as well as form DTF-802 - statement of transaction before I transfer the title.

I have a few questions:

I know I have to take the plates off of the car, but what do I do about the window sticker that has the registration expiration date on it?

With the tax form, do both parties pay tax on the transaction or just one (seller? buyer?)

When I turn over the title, I know i should sign it and date it and record the odometer reading on the back, is that all I do there?

Thank you very much for your help, as you can tell, i have not done anything like that before and I thought it would be smart to ask. Thanks again

keimanzero

Hi New Yorker dude, I'm from PA but down here you leave the danged thing on the car windscreen. That inspection is proof the car's OK to drive, sell, trade in, give away, whatever. Dunno about the laws of NY though. Anyone? Toodles- K&K

joel0622

So when it bounces we can track them down like the dogs.

irishdriver

I purchased a new vehicle recently, and "traded in" my leased Honda. According to Honda, I am perfectly able to use it as trade in etc. I was upfront with the dealer about the vehicle as a lease, showed him the exact payoff amount via Honda, and had Honda fax the payoff sheet to the dealer (salesman was there while I was on the phone).

They typed up all the paperwork, etc. and we all signed and I drove away in my new vehicle, satisfied with the transaction.

I got a call several days later from the dealership. Apparently they had done the paperwork incorrectly and had given me the tax minus trade which apparently you cannot do with a leased vehicle. They want me to return to the dealership, "tear up the paperwork" and give them over a thousand dollars more. I certainly understand this was a mistake, however I am frustrated. I was open about the lease. They are the professionals. They walked me through the paperwork, we shook hands, I wrote a check and left happy. I do want this resolved...amicably.

I ran it by another finance manager as well as my attorney, and based on my brief description they said that I am not liable for the difference. The dealership is telling me that "everything is void, and we need to tear up the paperwork." They said that I dont own the vehicle that I drove away with, and I need to return to settle the difference. When I explained that I understood but didnt think I was necessarily responsible for the error, they gave me the "whether its my fault or yours doesnt matter, you OWE us. Look at it whatever way you want".

Now I want this resolved, and certainly am fine to having it resolved fairly. I have no hard feelings towards the people involved and I understand the error, however they laid everything out for me and it was at a price that I was comfortable with. Ill be honest and say that I dont appreciate how forcefully they have been in making it seem like my fault, and also my responsibility. Who is to say I would have made the purchase at over $1k more? Ive put miles on the vehicle, made changes, etc already. I really enjoy it! Who is to say this wasnt a trick by them to get me to buy at my max comfortable price, only to get the rest out of me later?

Where do I stand on this? Am I correct to believe that one option is that they are still obligated to pay off the lease and I keep my purchased vehicle? Do I offer some form of alternate solution?

Any help, clarification, or suggestions would be greatly appreciated.

volvomax

Depends on the law in your state as to who is ultimately responsible for the sales tax. Also, there is usually a provision in the sales contract that states that the tax and license fees are estimates only and that the buyer is reponsible for any adjustments.
If that language is in your contract or buyers order you are 100% responsible even if the dealer made a mistake.
Honestly, you should just pay what you owe.

asafonov

Honestly, you should just pay what you owe.

Perhaps. Or, if the selling dealership insists that the contract is void, offer them to return their vehicle and restore you to where you were originally (and perhaps see how fast they backpedal... or not.)