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YACT: Details of Buying a Car Privately

C

clickynext

Platinum Member
Well I am poised to buy a car, and the deal will go through within the next 24 hours. Nothing is signed yet, but I'm getting some paperwork ready.

The car has no problems, and is being sold "as is". On the purchase contract, all I would need to include is the VIN number of the car, the names, and price being paid to the seller, right? Anything missing that I should have on there? Also the price going between us is completely seperate from the tax, correct? Tax is charged when it's licensed, if I'm not mistaken.

Thanks, just want to make sure I don't miss anything, since it's not exactly a small amount of money being transferred.
 
You can always get the best deal buying privately.

Just make a notorized bill of sale with all the info you just said. If you wanna be slick, you put on the bill of sale (if he agrees) that you bought the car for way cheaper than you actually did to pay less in taxes. Common practice here in Louisiana.

Make sure you check the VIN number so it is not stolen or something of the like, it it will be worth the money to bring it to a mechanic so he can inspect it AND get the carfax info on the car.
 
Originally posted by: MetalMat
You can always get the best deal buying privately.

Just make a notorized bill of sale with all the info you just said. If you wanna be slick, you put on the bill of sale (if he agrees) that you bought the car for way cheaper than you actually did to pay less in taxes. Common practice here in Louisiana.

Make sure you check the VIN number so it is not stolen or something of the like, it it will be worth the money to bring it to a mechanic so he can inspect it AND get the carfax info on the car.
Click to expand...

I second checking it out with Carfax www.carfax.com. A friend nearly bought a really nice looking truck a few years ago from a very "nice" guy who neglected to tell him it had been in a flood, and was "salvaged".
He nearly made a 25K mistake...
 
Understating the value on the bill of sale is probably illegal... somewhere.... btu who cares? When I bought my car privately, the Bill of Sale was just a hand-written half-sheet of paper that said something like "I Raduque, pay $300 for 88 accord" and both the seller and I signed it. Of course, it had my real name, not my forum name.

edit: Definately agree with the carfax thing! My dad almost bought a truck from a dealership that was in a major accident(Frame damage), and the Carfax report they provided was the only thing that stopped us.
 
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