![]() 07/11/2018 at 16:50 • Filed to: None | ![]() | ![]() |
So I’ve been selling a cheap truck without much interest. Got an email from someone today willing to lowball me slightly less than most folks - but there’s a catch.
He “reconditions” cars and trucks. He wants to pay me (in CASH! as he said many times) in return for the truck and a signed title. Not signed to him - just signed with the buyers name blank.
My state requires title transfers to be notarized. Which means he’d be doing an illegal transfer both when he buys and sells the vehicle, right? Presumably this is to avoid paying transfer tax...but come on.
![]() 07/11/2018 at 17:04 |
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if your lucky its just to avoid tax
if your not that blank title will come bite you in the arse
![]() 07/11/2018 at 17:05 |
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Weird.... Yeah.. I wouldn’t do that.. Who knows what he could do with that title line blank and you’d still be the “owner”.....
You should offer him the ability to “recondition” the truck on his dime, then when it sells for a higher price, he takes the difference...
![]() 07/11/2018 at 17:10 |
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Exactly. I can just see this becoming the vehicle for a serial killer or jihadist or something.
![]() 07/11/2018 at 17:13 |
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Right? He’d see it on the evening news after it ran over a bunch of people.. and about that time the cops are knocking on his door...
![]() 07/11/2018 at 17:26 |
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He just doesn’t want to pay for the title transfer and tax, to own it for a few weeks until he sells it. As lo ng as you fill out a state approved “Bill Of Sale” ( most states have an approved template you can download), that will release you of all liability on the date (I would note the exact time too) he takes possession. If he chooses not to transfer the title after that point, that's on him.
![]() 07/11/2018 at 17:41 |
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On one hand, I c
a
n
s
y
m
pathize with him
w
anting to avoid
annoying fees and formalities for a car that he’s not even planning on keeping for himself. I get it.
I
t
’
s
one of th
e
t
h
i
n
g
s holding me back from
g
e
t
ti
ng
i
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t
o
f
lipping cars. I just don’
t
know
i
f
I
c
a
n
r
e
a
l
l
y
m
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k
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i
t profitable enough to be worth my while.
But on the other hand- NOPE
.
Absolutely not.
I
f
I
’
m
s
e
l
l
i
n
g
a
c
a
r
,
I want it to be 100%
p
a
i
d
f
o
r
a
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d
out of my hands. I don’
t
w
a
n
t
A
NYTHING coming back on me.
![]() 07/11/2018 at 18:21 |
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Next thing you know
https://www.pri.org/stories/2015-12-15/how-texas-plumbers-truck-wound-isis-hands
![]() 07/11/2018 at 18:38 |
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I’m in PA, they don’t have bills of sale. The DMV is fairly clear that a notarized signed title and transfer tax document is the only acceptable way to sell a car.
![]() 07/11/2018 at 20:20 |
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He’s a curb-stoner. Dealing in cars without a dealer license. You don’t have to participate in his law breaking. Tell him a white lie. Say your lawyer advised that you not sell the truck without a bill-of-sale and properly assigned title, for your own protection. Don’t get tempted by his offer of ‘cash’ either. Cash doesn’t mean shit, it could even be counterfeit. No cash discounts. Terms of sale are cash or check and the transaction will take place at his bank where he will draw a cashiers check from and give it to you on the spot. (I think he could even be a car thief. Gives you counterfeit money, takes the title and flips the truck to some unsuspecting sucker and HIS name never comes up cause nobody demanded identification.)
![]() 07/11/2018 at 23:02 |
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In 1990 my dad traded in his boat and trailer. It was in Jersey, and he just signed over the title to the trailer. Sometime around 1998, he got a call from the philly police that his trailer, filled with old tires, was abandoned under a bridge. It took a bit of wrangling for him to prove he traded the trailer with the boat. By that time the dealer was out of business. Tldr: don’t just sign the title.