You placed the ad, got your price, and are ready to hand over the keys. But, what you might not know is that you could be headed for trouble if you don’t check things out. We’ve received numerous complaints from consumers who have gotten some nasty surprises before or after they have sold their car. If you are planning on selling a car, here is what you can do to avoid getting taken:
• Know who you are dealing with and be suspicious of offers that seem too good to be true – especially if the buyer wants to give you a cashier’s check for more than the asking price and wants you to wire the difference.
• Before you hand over the keys, be sure that you remove the plates, have the buyer sign the title with you, and that the title transfer happens in a timely manner. Although the buyer is responsible for following through on this, it does not always happen, and this could put you at risk for being charged for parking tickets, towing, or other problems that could be linked back to you as the owner of the car. To avoid this problem, you may want to require that the buyer meet you at the DMV to be sure that the title transfer is completed properly.
• Make sure that you are honest about the vehicle’s condition and have this noted appropriately on the title.
• Keep documentation of the sale including name, address, and phone number of the buyer and any other documentation such as a bill of sale.
If you run into a problem after selling your car, especially if it is related to the title transfer, contact the Wisconsin Department of Transportation at: http://www.dot.state.wi.us.