Used Car Payment and TTL

[Stuck_At_Work]

Let's say you sold a car privately.

How should you receive payment? Cash doesn't seem like a fair option when you are asking $12k.

How does TT&L work? Does the seller need to worry about it?

 

[accuratehorn]

There have been some other threads about this, but the buyer pays the tax, title, and license fee. You will fill out the back of the title, keep the top section and send it in with $5 to prove you sold the car, and go with the buyer to their bank and get a cashier's check. Or get him to transfer to your account electronically, and verify it-there are some fake cashier's checks out there. Discuss this with your banker.

 

[HatDaddy]

Buyer pays it all.
I can't stress enough about keeping proof that you sold the car. This can come back to haunt you later if you have no proof and they fail to register the car in their name after they purchase it from you.