Here in Maryland, you can sell your car successfully! The State of Maryland has some guidelines that must be followed. But they also offer assistance when you need it. So, for how to sell a car in Maryland, keep reading and learn how to make that sale work for you!
How to Sell A Car in Maryland – Information for Sellers, Buyers and Donators
For persons who are buying, selling or donating a vehicle in Maryland, the transaction can be a bit difficult.
But we are ready to walk you through all that needs to be done. And for additional information you need, you can click here!
The state of Maryland wants both sellers as well as buyers to be aware that private vehicle sales without a licensed dealer are not regulated by the Maryland Motor Vehicle Administration or the MVA.
Therefore “…Any legal action regarding the sale, warranties, or consumer rights are the sole responsibility of the buyer and the seller,” states the state of Maryland.
How to Sell a Car in Maryland – Seller Responsibilities
As the seller, you must have the vehicle safety inspected by a licensed Maryland inspection station. Additionally, you can also utilize an automobile dealer, a specialized vehicle service center or even a service station for your car inspection. Maryland recognizes each as a licensed Maryland inspection station. Once done, your “Maryland Safety Inspection Certificate” is valid for a period of 90 days.
Assigning the Vehicle to the New Vehicle Owner
You the seller have to sign and print your name as well as the buyer’s name and address on the back of the “Certificate of Title” under the “Assignment of Ownership” area.
You can note the buyer’s name and address in the “Assignment of Ownership” section to complete the sale.
The title is considered “open” and will not be recognized by the MVA for registration if these steps are not followed.
Additional Points to Know
- If the title has been damaged, mutilated lost or destroyed, the vehicle owner(s) are able to apply for a duplicate title. Click here to be taken to the Maryland Duplicate Car Title application.
- You can also apply for a duplicate car title at the MVA KIOSK. The kiosks are located at MVA full and express branch locations.
- Maryland residents also have the option of applying for a duplicate car title by mail using the MVA “Application for Duplicate Certificate of Title, which is form number VR-018. The duplicate titles will be mailed to the owner’s address.
- Make sure that you note the odometer mileage under the “Assignment of Ownership” section.
- Then, if the “Certificate of Title” has an area for the purchase price, note that purchase price on the title under the “Assignment of Ownership” area. Don’t forget to include the date of the sale.
Do I Need A Notary to Witness the Signature on the Bill of Sale?
When filling out the assignment of ownership, you must enter the purchase price on the title if there is a space provided.
For titles with no space, then you must include a bill of sale. In some instances, you may have to have a notary witness the signature and stamp the bill of sale may be required in some cases. Check out the circumstances that call for a notary for the bill of sale:
- If the vehicle is less than seven-years-old, has been bought from someone other than a dealer, you have to have a notary witness that bill of sale. Click here for more surrounding this circumstance.
- For vehicles that are seven-years-old or older, and have been bought from someone other than a dealer a notary has to witness the signature on the bill of sale. Click here to read more about this scenario!
- If you don’t present a notarized “Bill of Sale” and the purchase price of the vehicle is within $500 of the clean retail, the MVA will accept the purchase price as completed on the vehicle title. That retail value has to be shown in the National Publication of Used Car Values. Click here to read more about this particular circumstance!
Selling a Car in Maryland – Showing Proof of That Vehicle Has Been Paid Off
In order to show proof that the vehicle you are selling is a “paid in full” vehicle, you must submit a “Notice of Security Interest Filing” form.
This is sent to the vehicle’s owner by the financial institution, once the final payment for the car has been received.
If the document is not available, you must request a letter on the financial institution’s letterhead. That letter must state that they hold no financial interest in the car. Additionally, you have to get that document signed by an authorized agent of that financial institution.
Remember that the letter should also have the amount of the loan, the date of the loan’s creation and most importantly the date of its release.
Make sure that the letter includes the address of the debtor as well as a complete description of the vehicle (i.e. the VIN or vehicle identification number, year, make and model of the car). Click here to learn more!
What About my Car Insurance and License Plates?
In Maryland, you must return the license plates to the MVA Before You Cancel the insurance on a vehicle!
Maryland law is immensely strict about the license plates. Given such, for an uninsured motorist, fines begin at $150 for the first 30 days a vehicle has no insurance.
That fine increases to $7 for each day thereafter, there is no insurance.
Unless the vehicle seller is transferring the plates to another vehicle, that car seller has to take those plates back to the MVA and retain the receipt.
This must be done, before canceling the insurance coverage on the vehicle. Need more information? Click here!
How to Sell a Car in Maryland – Useful Tips That Help with Smooth Transaction
Maryland wants you to have a smooth transaction of a car sale, whether you are the seller or the buyer. Check out some useful tips, that come directly from the Maryland MVA!
- As a Maryland vehicle seller, you should have the “Certificate of Title” as well as the “Security Interest Filing” (if this form is applicable to you), available for the buyer. Having these forms will allow the buyer to inspect them during the transaction. Learn more by clicking here!
- You must fill out the title properly. The buyer of your vehicle should take his or her time to complete it properly too. Maryland needs the title to be easy to read, complete and clear. If there are issues with what is written, this could delay any transactions and etc. Additionally, the buyer may run into problems trying to register the vehicle.
- The buyer’s name has to be noted in the “Assignment of Ownership” section on the title to finish the sale. Without this, Maryland considers the title “open”. Furthermore, Maryland will not recognize it for registration. Learn more here!
- For an out-of-state transaction, as well as a transaction within Maryland, both will need a separate MVA “Bill of Sale” (form number VR-181) that is witnessed by a notary. Both the seller as well as buyer must sign it as well. Learn more here!
For forms you need to complete the sale of your car, click here!
Selling your Maryland Vehicle Fast!
It’s time for the sale of your car! Check out our tips that will help you sell that car fast!
- Remove your personal items out of the car. Be sure to take out the items that are yours, from the car. Don’t forget to remove hand lotions and such out of the glove compartment. And you like to store coins and dollar bills in the console, remove those too!
- Understand the value of your car. You may opt to look at the value of your car on the Kelley Blue Book website, to get a general idea of the value of your car.
- Have your car inspected. Once you have an ideal of the value of your car, get a mechanic to examine your car. How are the parts? What does the shape of your car look like? Do you need to replace anything? You may choose to sell your car as is or part by part. But you won’t know how to proceed, if you don’t know how to sell your car.
- Formulate a game plan. For an online sale of your car, make sure you have: a) great and focused pictures, b) a detailed description and c) a way for buyers to get a hold of you.
- Obtain a vehicle history report. One sure way to sell your car fast, is to supply a vehicle history report to potential buyers. This way, you become a trustworthy seller. Also, your buyer will see you as straightforward. You show you don’t have anything to hide from your buyer. You’ll get lots of respect for that!
You can sell your car successfully here in Maryland! You have the know-how as well as some great advice! Now, go and sell that car and make some great money!