Selling a Car for Cash in NJ: Paperwork & Laws to Know
If you are thinking of selling a car for cash in NJ, there are several things you should know about the paperwork and laws. You need to ensure that you follow proper procedures as outlined in the New Jersey state law, allowing you to be safe when you hand over your old car to its next owner. In this blog post, we have highlighted all the important steps and documents you must have to ensure a smooth transfer of title and getting cash for car in Philadelphia or anywhere in NJ.
What Documents are Required in NJ?
When selling car for fast cash in NJ, you must have the original certificate of title with you that contains all the necessary information, which is present on the backside of the document. If your old car is exempt from sales tax or has liens, you must have the other required documentation. You must ask the buyer to provide you with sales tax payment and proof of insurance.
Things Sellers Should Keep in Mind in New Jersey
The seller has certain responsibilities that they should carefully consider when selling your car to a buyer. Being the seller:
- You must sign the title document and include the date of sale, provide complete name and contact details of the buyer, and write the price of sale
- You have 10 business days to transfer the title of the vehicle from the date of the sale
- You must write the mileage odometer reading, and if an accurate value cannot be provided, you should sign an Odometer Disclosure Statement.
- You must remove the license plates of your car and hand them over to the NJ Motor Vehicle Commission (MVC) located near you. However, the plates must not be transferred to a different car.
Things Buyers Should Keep in Mind in New Jersey
Just like sellers, the buyer has certain responsibilities when purchasing the car. Being the buyer:
- You must get the title transferred from your nearest NJ Motor Vehicle Commission (MVC) and receive the license plates and complete the registration process.
- You must sign the title document at the backside and provide your driver’s license number.
- You must pay $60 in the fee. If the title has a lien, you will have to pay $85.
Lastly, remember that you are protected by New Jersey’s Lemon Law, giving you protection, especially when you are purchasing the car from a dealership.
Selling car fast for cash requires due diligence on part of both buyers and sellers so that they don’t end up performing the sale and purchase illegally. To make the process easier for you, you should call the professional evaluators from a ‘We Buy Car for Cash’ platform, like Autobuyers.com, that will provide you with the best possible rates and handle all the legal steps for you.