Do i just need to sign my title over and have the new owner sign and date the title if selling my car?
Typically, you need to sign the title and give it to the new owner. There should be another slip of paper attached that you keep. You don’t necessarily need it but it collects the information you need. Once you’ve signed the title and given it to them, you need to inform the DOL that you no longer own the car. You need the new owner’s name and address (and driver’s license number is good too, but not necessary). You’ll take the filled out slip into a DOL office to report the car sale or you can usually also do it online through the website (at least for the state of Washington). The reason you’ll do this is so that even if the new owner doesn’t trade over the title within their own allotted time, you’ll have notified the DOL that the car isn’t yours and that it is the responsibility of the new owner (for tickets and such).
Fortunately for you, this particular WI state DOT page covers the topic of selling a vehicle perfectly: http://www.dot.wisconsin.gov/safety/cons… Not only does this page instruct you on the requirements for selling a vehicle, but it also gives you a list of steps you will need to take in order to make sure the ownership of the vehicle is properly transferred to the new owner. You will also find a PDF link that provides a formatted bill of sale for you to use! Good luck selling your car!
Make sure they are paying you cash for the car first. If they do, then that should be fine. I had a friend who “bought” a car from someone by just taking over the other persons monthly payments, whenever he finished paying the car off, the other guy took the car back from him because he still had the title. I’d make sure you asked your local dealership or someone like that before you sign it over.
I only have experience buying/selling cars in New Jersey, but here is what happens here anyways. I’m sure it’s similiar in Wisconsin. Once you receive your full payment (if he gives a personal check, wait the 3 days until it clears), you sign the title and hand it the new owner (but not the keys). He’ll need that title to make registration/insurance in his name and transfer ownership, in order to get new license plates. Don’t give him the keys while your plates are on the car. Once he has his new plates, take your plates off, he puts his, and then you give him the keys. Return your plates to the DMV. You can even ask to see his registration if you want to REALLY make sure that the car is now in his name. Once the car is registered to him, you no longer have liability.
You can do that, but I would put the buyers name and address in the buyers space, mileage where it should be, and date of sale. Then I would have the buyer sign it in front of me, and make a photo copy of it for my records that I sold the vehicle. Or you can write up a statement with all the vehicle information-serial number, make, model etc., date of sale and mileage and have the buyer sign it that he purchased the vehicle. That way you have something in writing saying he purchased the vehicle. If he does NOT title or register the vehicle immediately and has an accident or what ever, you will have written documentation that you sold it on a specific date. Just make sure you get the buyer to sign and date the document.