Thinking of selling your vehicle? Awesome. Now, you know you need the title, right? (Insert crickets.)
If you don’t have the title to your vehicle, there are a few different ways you can navigate a sale. If you have any questions about the selling process here at Don Williamson Nissan, call our team at 910-459-2591 or contact us here online.
What to do if My Car Title is Lost
Don’t sweat it. This happens to more people than you might think! If you’re in North Carolina, check out this page on the NC DMV website; here you can print an application for a duplicate title, but be sure to complete it before a notary. Once that is complete, bring your driver’s license and the $20 replacement fee to your local DMV office.
Do you still owe on your vehicle? You’ll also need to secure a lien release, which must also be notarized. Once the required steps are complete, the DMV will mail a duplicate title after two weeks.
What to do if The Bank has My Car Title
If you still owe on your vehicle, the bank will be holding your vehicle’s title. You can either pay your vehicle off in full and receive the title by mail or work with the buyer and your lender to determine the payoff amount needed, use the buyer’s funds to pay off the loan, and have the bank send the title to the new owner.
If the buyer needs a loan to pay for the vehicle, they will need to ask their bank to conduct the transaction. You can also use an escrow account to hold a cash payment from the buyer until you secure a lien release and other necessary paperwork from your lender and transfer to the new buyer. They will then notify the escrow account that they now own the vehicle and the funds will be released to you.
What to do if I Was Never Issued a Title
Some states don’t issue titles for vehicles over a certain age, usually ranging from 15-25 years old. If you are selling a vehicle that does not have a title, be sure to write a clear bill of sale that includes details about the vehicle you’re selling, a date, signatures from both you and the buyer, and you can also notarize it. Don’t be offended if an interested buyer asks you for the VIN number so that they can legitimize your legal ownership of the vehicle.
What Else Should I Know About Selling a Vehicle Without a Title?
Keep in mind that a vehicle can’t be registered without a title, even if your state doesn’t issue them for certain vehicles. Be sure to provide your buyer with all of the documentation they’ll need to legally operate their new purchase.
If you have any questions about selling your vehicle or want to get a quote for your vehicle, our team is always here to help. You can count on us to provide a pressure-free environment and friendly service; we want you to be confident in your decision to sell your vehicle and feel equipped to do so. We are also currently offering top dollar for trade ins, so if you’re interested in trading up, let us know.
Call our team at 910-459-2591 or contact us below to learn more and get started selling your vehicle today!