A Guide for Buying and Selling a Car in Idaho

If you want to sell a car in Idaho, you need to know how to do it legally and efficiently. The laws in Idaho can be confusing, so you need to make sure that you follow the guidelines required in the state of Idaho.

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How to Properly Buy and Sell a Vehicle in Idaho

The first thing you should keep in mind when planning to buy or sell a car in Idaho is that a private sale is not regulated by Idaho’s DMV.

This is considered less regulation which is a good thing in many ways. However, it may leave you with a higher level of responsibility regarding the sale. This carries both legal and financial responsibility.

Some of the things that you should consider include:

• The transaction can be confusing
• A private sale is not regulated by Idaho’s DMV
• Make sure to keep a copy and record of any relating documents

Getting Your Car Ready to Sell

Even though the Idaho DMV does not regulate the buying and selling of vehicles in the state of Idaho, you do need to keep some things in mind when you’re planning to sell a car.

• Set a fair price – Before you can sell your car in Idaho, you need to decide on what you consider a fair price. This can vary according to your viewpoint, but you generally should refer to Kelly Blue Book and other references as a standard.
• Advertise – Once you have decided on a selling price, you should start advertising and try to find your potential buyers. You can use social media for this or purchase ads in your local town to generate interest in your vehicle. There are some other sites such as Cars.com that allow you to buy or sell your car.
• Execute the title transfer – There are also some steps that you must take to transfer your car title in Idaho. Follow the directions on the DMV site to learn more about transferring the title.

Tips for a Successful Sale

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When you sell your vehicle in Idaho, you need to make sure you understand the process of title transfer.

You are responsible for providing a bill of sale to the new owner, and you must provide them with the car title after the sale. Below is a list of important things to remember:

– Your Responsibilities When Selling a Car

• Assign the Vehicle to the New Owner – When you reach an agreement with the buyer, you should assign the vehicle to the new owner by finalizing the sale as per the rule of Idaho. Make sure both parties understand what they are getting as well as the appraised value of the vehicle.
• A Bill of Sale is necessary – Along with a legal contract outlining the sale, you should also have a bill of sale that proves that you sold the car to the new owner. The bill of sale should show the amount you sold the car for as well as a description of the vehicle and a brief statement about the car’s condition at the time of the sale.
• Original title and security of interest filing – You must transfer both the original title and the security of interest filing over to the new owner to make it legal.
• Return your license plate to Idaho’s DMV before canceling your insurance – You must also return your original car license plate to your Idaho DMV before you cancel the insurance on the car. The new owner will be responsible for purchasing their own insurance.
• Contact your insurance provider and let them know about the transfer – Once you have made the sale, you should contact your insurance provider

– If You Are the Buyer

If you are the buyer and are buying a car from an individual car owner rather than a dealership, here are some hard and fast tips that you should follow.

• Do plenty of research – If you are going to get a good deal with an individual car purchase, it’s important to do your research first. Look up different makes and models and get a feel for the type of vehicle you need before setting out to find one to buy.
• Don’t let the seller pressure you – Any seller should give you room to breathe, ask questions, and look up information about the car before you sign. Remember that you are the one spending the money. When you encounter overeager sellers remember that there may be a reason they want to get rid of it so quickly.
• Figure out how much you are willing to pay – Thinking about how much you are willing to pay before you get into seriously talking about a car deal is important to getting a fair deal. If you have a limit on what you will pay for a car, you will not overspend and purchase a car you cannot afford.
• Have the right documents in hand – You should also know what documents to have in hand when you make the deal and register your new car. We describe the specific documents in the section that follows.
• Get new license plates after the sale – Once you make the deal, you must have a new license plate that identifies your car. This is a state law.
• Register your vehicle – Make sure you get your new car registered after the sale so that you don’t get fined for this.
• Check the vehicle’s title history – You will want to check the vehicle’s title history before you buy so that you know you are getting a good deal. Look for hail damage, wrecks, and other events that can influence the quality of the vehicle that the seller may not tell you.
• See if the purchase price is documented correctly – See if the seller has documented the correct price on the assignment of ownership section. This is crucial and is considered admissible in court if there is ever a dispute on the matter of price.
• Contact your insurer – Once you have made the purchase, it is your responsibility to contact your insurer to add your vehicle to your policy. The seller will also contact their company, but you must also do this so that your car will be insured.

List of Required Documents

Keep in mind that you must have the following documentation to make it a legal purchase when you buy a car in Idaho:

• Certificate of Title – You must fill out a copy of the Idaho Certificate of Title form in order to make your sale legal. This doesn’t mean you cannot just purchase a car from someone in their front yard without the paperwork. But there should be some sort of document proving you own the title.
• Security of Interest Filing – This document is also needed to prove that you own the vehicle. Get this from the Idaho Department of Transportation.
• Bill of Sale – The bill of sale will be provided to you by the seller. If they do not do this, ask them about it.
• Auto Insurance Information – You need to make sure you have updated car insurance to cover your newly purchased vehicle. Remember that the seller will cancel his or her insurance shortly after the sale.

Remember that you cannot drive the vehicle until you have obtained your new license plates and registered the vehicle.

Tips for Getting the Best Deal on Insurance for Your New Car

Below are some other tips dealing with finding the best insurance for your new car. Remember that your new vehicle is different than your old car and you will need to make adjustments in your policy accordingly.

• Contact your insurance provider
• Get quotes on the new vehicle
• Discover coverage options

All of the included tips are important to follow once you have finalized the sale of your vehicle. You may even want to contact your insurance agent when you are still involved in the purchasing process. Find out how long your current provider will cover the new car before it is officially on your policy.

Do some comparison shopping to get the best insurance rates for your new car.

Buying and selling a car is a natural time to do some evaluation of your current policy and for checking around to see which company offers the best insurance for your new car. Remember every car is different. So find insurance that matches your vehicle.

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