Selling a car is a long process. With a million things to take care of, it can often become a tedious task. Therefore, it is imperative to keep in mind the various steps in the process of car selling.
The state of Virginia has specific rules which need to be adhered to while selling your car. As Virginia is the 12th most populous state, amongst the 50 states of America, the number of car buyers is huge. But, do not worry about making a successful sale. With the following stepwise guide, you will be able to make the most of the car selling process in Virginia.
How to sell a car in Virginia?
1. Title Transfer
The primary step is the transfer of the title to the buyer. In order to move ahead with the title transfer, you will need to provide the required details and obtain a title certificate. The laws of Virginia require you to provide details of the buyer’s name and address. You will have to provide an odometer reading and the sales price of the car. Also, make sure that the buyer provides the required details for the successful completion of the title transfer.
2. Remove your License Plates
Prior to handing over the car to the buyer, remove your license plates. Once you have removed your license plates, you can either transfer them to another car or return them to the Department of Motor Vehicles of Virginia. You can obtain a refund in case the registration on your license plates has not expired and the plates are valid for another 6 months or more. In order to obtain a refund, you will have to inform the Department of Motor Vehicles of Virginia about the inactivation of the license plates and fill in the Application for Vehicle Registration Refund form FMS 210, respectively.
3. Notify your Insurance Company of the Transaction
After selling your car, you should inform your insurance company about the sale. In case you are thinking of another purchase, you can transfer the liability coverage to the new car. Before cancelling the liability coverage, make it a point to inform the Department of Vehicle Motors of Virginia in order to avoid any confusion. If the insurance company cancels your policy and the Department of Motors Vehicle of Virginia has records that you own the car, your driver’s license will be at risk. Therefore, inform the Department of Motor Vehicles of Virginia and your insurance company about the sale of your car.
Selling your car in Virginia can be a time-consuming process. However, the above stepwise guide can surely come to your aid while selling your car.
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