Selling a car is a difficult as well as long process. Many a times, providing the wrong documents and paperwork can lead to lots of delays in the process.
One of the biggest reasons that residents fill out the wrong paperwork can be traced to not knowing the laws.
So, before you decide to get sell your car here in the Hoosier State, make sure that you have proper understanding and knowledge of the laws prevalent in Indiana.
Understating to how to sell a car in Indiana is vital to a quick sale!
In this guide, we will help you with how to sell your car privately and what you need to do to prepare for your sale!
Selling and Purchasing a Vehicle in Indiana
Indiana requires that the certificate of title be applied for, within 45 days after the vehicle is purchased acquired. If the certificate of title is applied for after the 45 days, there will be an administrative penalty that must be paid.
For car vehicle buyers, you have to ensure that the seller has completed both the seller and purchaser sections on the certificate of title completely. This must be done before visiting a license branch to apply for a new certificate of title.
Additionally, the seller must remove the license plate from the vehicle after the sale of the car. The purchaser must also obtain a new certificate of title, registration and license plate.
The Indiana BMV does not require the license plates of sold vehicles given to the BMV. The license plates of sold vehicles are allowed to be transferred to a different vehicle owned by that same person. Click here to get more information from the Indiana BMV!
How to Sell a Car in Indiana: Lien Release
Before selling a vehicle, all lien-holders must have released interest in the vehicle. Indiana defines a lien-holder as a financial institution or dealer.
In order to remove the lien from your vehicle’s certificate of title, you must request that the lien-holder sign off in the proper lien release section on the certificate of title.
The lien-holder can also provide a letter of lien release.
For financial institutions or dealers no longer in business, you must contact your local court to obtain a court order that directs the Indiana BMV to release the lien.
For a lien-holder who is a person, you must request that that he or she remove the lien from your vehicle’s certificate of title, there are several ways to get this done:
- The individual lien-holder has to sign off in the proper lien release section on the certificate of title.
- The vehicle owner must get a lien release letter.
- The car owner has to get a general Affidavit, which is Indiana State Form 37964. It has to be signed by the individual lien-holder. Click here to learn more!
Selling a Car in Indiana- Vehicles Required to Have a Certificate of Title
Here in Indiana, the law states that a resident has to obtain a certificate of title for a vehicle. There are some vehicles exempt from requiring a certificate of title. Those include:
- Unique and specialized machinery.
- Motor-driven vehicles.
- A vehicle considered an off-road vehicle that was purchased or given to an individual before January 1, 2010.
- A watercraft which does not have to be registered.
- A motor vehicle built to have a maximum design speed of not more than 25 miles per hour.
- A vehicle not required to be registered under Indiana law.
Click here to read more!
Selling a Car in Indiana- Understanding the Laws & Documents
Understanding what is required to sell a car here in Indiana will make that sale an easy one. Check out what’s required of you, in order to sell a vehicle.
You Must Provide the Bill of Sale.
A Bill of Sale is a legal document that provides proof of ownership. Typically, a bill of sale contains information such as the name of the purchase price, the name of the buyer and a description of the car. According Indiana laws, you as the seller must provide the document while selling your car. You will also need to fill in the information of the bill of sale in the Form 44237. Click here to download your Bill of Sale from the Indiana BMV website!
You are required to to offer the seller a Disclosure of Condition of the Car form.
Once you mention the current condition of the you are selling your car in an ethical and honest manner. Indiana fully supports sellers submitting a written application that discloses the condition of the car and requires this.
The form reveals if the car is salvaged or rebuilt. In the event you decide not to disclose this vital information to the buyer, that car buyer could file a lawsuit against you to claim damages in the future. So, having a disclosure of condition of the car document is good idea as it releases you from liability. Click here to contact the Indiana BMV for more!
You must provide the car title.
Here in Indiana, you cannot sell a car without a car title! A title certificate is a vital document that is required for selling your car in Indiana. Without it, the process of selling your car will be delayed or stagnate.
If your original title certificate is stolen, broken, damaged or you can apply for a duplicate title for the car from Indiana Bureau of Motor Vehicles. When you apply for a duplicate title, you are required to produce the following items:
- A photo ID.
- Form 205 pertaining to the application of title registration.
- The $8 fee, which is payable to Indiana Bureau of Motor Vehicles.
How to Sell a Car in Indiana – Additional Information
Just as other states in our union, Indiana requires all motor vehicles to be titled. You will find the title assignment on the back of the title. It includes blank spaces to be filled with the following information:
- Purchase date
- Odometer reading
- Selling price
- A space for both the buyer and the seller.
Additionally, Indiana states that failure to disclose this information is a Class A misdemeanor and a Class D felony for subsequent offenses.
Preparing A Car for an Online Sale
Now that you know what’s required of you to sell your car, you are now ready to get that old car sold! So, you decide to sell it online. Sites such as Craigslist, Twitter, Instagram and Facebook give car sellers a platform to display cars for sale.
So, to take full advantage of these sites, you want to first make sure that your ad has great, sharp and focused of your car you wish to sale. Your pictures tell the story of your car. Make sure that you get both sides of the car, as well as the car’s front and back. You may even want to take and post a picture of your car’s hood.
A description is also a vital component of your car ad. You want to make sure you are as detailed as possible. Even if your car needs work or has some damage, you want to put that in your ad. Does your car need new tires? Let perspective buyers know this. Is your car in need of a new engine? Let the public know! Just because there are defects on your car doesn’t mean you won’t sell it. Lots of people are looking for less-than-perfect cars.
Finally, your online ad needs your contact information. Whether this is an email or a phone number you provide, make sure it is a way folks can get to you fast.
How to Sell Your Car Privately – Staying in Control of the Process
Once you decide to sell your car privately, you want to make sure that you as the seller, stay in control of the process.
One of the first things you will get is “for sale” signs to advertise the sale of your car. When you post them in the car, you want to make sure that they are visible to all. Drivers need to see you have car for sale and it’s your job to “broadcast” this.
Soon, the calls will come and you will have an opportunity to sell your car! When speaking about your car to perspective buyers, you want to remain polite and transparent. This can prove to be a bit difficult after the 10th or 20th person has inquired about your car.
For any blemish, defect or damage to your car, you want to make sure that you share that with the buyer. The buyer will ask you lots of questions, so you want to be prepared.
As the seller, you are in control of the sale. You want to reveal all about the car, so that the buyer can make an informed decision about the car.
If you are firm on the price of your car, you want to convey that to the seller. But if the price of your car is negotiable, you can negotiate the price!
Selling a car takes time and patience. But it can be done! Knowing what to fill out and do helps! Click here to connect with the Indiana BMV for more!