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Fair Market Valuedollar dc batteries image by Brent Walker from Fotolia.com
Determine the fair market value of your vehicle. Shop around and see what other cars with the same year, make and model are selling for. Websites such as Kelly Blue Book, Edmunds, or NADA Guide Book are great resources for determining the fair market value of your car. They will also inform you what price the dealership will be willing to give you. - 2
Put your car up for salefor sale sign image by jcpjr from Fotolia.com
Put the car up for sale. You can use a variety of marketing resources: online, newspaper, signage or word-of-mouth. Online tools are especially helpful since they offer free or inexpensive ways to reach a global audience. With that, though, comes a large amount of competition so it's important not to forget to utilize your print advertising and reliable "for sale" sign. - 3). Prepare the documentation. New York requires a bill of sale, car title, and Form DTF 802. A generic bill of sale template can be found online and filled in with your specifications. A bill of sale should include the purchase price, mileage, year, make, model, VIN, buyer's and seller's signatures, date and notification that the car is being sold "as is." Form DTF 802, which is used to calculate sales tax, can be downloaded from the website of the New York Department of Motor Vehicles.
- 4). Remove any liens you have on the title by contacting the lienholder. The lienholder will prepare a document on official letterhead specifying the lien has been satisfied. An authorized officer must sign the document. If the lienholder is not a loan company then the document must be notarized. The title can then be transferred to the new owner after the buyer receives the original copies of the lien removal documents.
- 5). Fill out the mileage and damage report on the back of your title. Both parties will sign and date the title to transfer it to the new owner. If your name is already on the title as the buyer because you've purchased the vehicle from someone else, you will have to request a new title from the DMV.
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Transfer vehicle ownership.deal is done image by Alexey Klementiev from Fotolia.com
Hand over the keys and remove both license plates and registration sticker from the vehicle. Surrender your plates to the New York DMV or transfer them to another vehicle. Failure to do so may put you at risk for any accidents, damages, or tickets that occur under the new ownership of the vehicle.
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