Selling A Car In Illinois

If you sell your vehicle privately you must.

Selling a car in illinois. Remove the license plates before handing the car over to the buyer. Remove the vehicle s license plates. The title must be signed in the assignment of title area. Commonly it s used to commemorate the sale of a car and beyond state requirements is useful as a record for tax purposes plus it protects the seller in the event that the buyer fails to.

If you need to obtain the forms prior to registering the vehicle send us an email request or call our 24 hour forms order line at 1 800 356 6302. At the time of sale you must provide the buyer with signed and dated certificate of title of the car. If you are the registered owner or have power of attorney for the owner of the vehicle then it is possible to get a replacement title if needed. In illinois the taxable price of your new vehicle will be considered to be 5 000 as the value of your trade in is not subject to sales tax.

A bill of sale is a document recording the sale of property between one person and another. You are also required to complete the notice of sale form that is attached at the bottom of the title and mail it to the secretary of state of illinois. Illinois bill of sale requirements. Selling an il vehicle.

Title replacement duplicate titles. If you are selling a car in illinois you must follow the following steps. For more information on buying or selling a used vehicle please call the secretary of state vehicle services depart ment at 800 252 8980 or 217 785 3000. When you sell your car in illinois you are obligated to take the following actions.

For example you could trade in your old car and receive a 5 000 credit against the price of a 10 000 new vehicle making your out of pocket cost only 5 000. In illinois a bill of sale is not required for title transfers. The date of the sale. Check out the illinois lost and damaged title guide for replacement titles this is often referred to as a duplicate title.

You may not be aware that you retain liability over the car until the car buyer transfers the title. Understand your legal liability when selling a car in illinois. If you have problems with a title or registration on a vehicle you purchased or suspect improper activity by someone trying to sell you a vehicle please contact the secretary of state police in your. Supply the buyer with a valid signed and dated title certificate at the time of sale.

However it if highly suggested that you complete one anyway when you are making a vehicle sales transaction. Give the buyer the vehicle title with the assignment of title section completed including. Obtain and fill out the illinois notice of sale form. This means that you save the sales taxes you would otherwise have paid on the 5 000 value of your trade in.

Remove the license plates from the car.