I wanted to know the steps involved when you sell your privately owned vehicle in Maryland. I have a 2000 Cadillac and paid it off many, many years ago. I am the second owner and I have someone coming over tomorrow to look it over. Since I own the vehicle out-right I have the original title that the bank sent me. Other than signing off the "Assignment of Ownership" section, what are the next steps? Do I remove the plates and call my insurance company to remove the insurance? Do I wave goodbye as the vehicle leaves my driveway? Just kidding but you get the gist here.
ISO Information Steps When Selling Your Vehicle in Maryland
- Thread starter NBF
- Start date
Take your tags off the vehicle (and don't forget the registration card), make your deal with the purchaser, get your payment (cash, money order, cashier's check), assign the title to the purchaser, give them the title and keys. Your deal is done. The purchaser might want an inspection certificate, I would tell them the sale is "AS IS". Then do what @TPD said.
NorthBeachPerso
Honorary SMIB
Technically, meaning it's in the Motor Vehicle Code, the seller is responsible for the safety inspection prior to transferring ownership.
As already mentioned, turn in the tags to MVA before dropping the insurance. My oldest son did the insurance first, by one day, and ended up with a $150 fine/fee.
The buyer may be able to short circuit the safety inspection if he intends to register the vehicle as Historic.
As already mentioned, turn in the tags to MVA before dropping the insurance. My oldest son did the insurance first, by one day, and ended up with a $150 fine/fee.
The buyer may be able to short circuit the safety inspection if he intends to register the vehicle as Historic.
Blister
Well-Known Member
Also make sure you have a real Md. State title, and not a Lien Release.
Shortly after paying off the loan, we received a document from the bank that looks exactly like the blue Certificate of Title, but it’s red. This is called the Maryland Notice of Security Interest Filing.
What is the difference between a Security Interest Filing and the Certificate of Title
In Maryland, if you took out a bank loan (a lien) on you car, the bank is issued the “Notice of Security Interest Filing”, while you are issued the “Certificate of Title”. Your title will list your bank as the lienholder, and you can’t do anything with the vehicle (sell, trade) without the red Security Interest Filing document issued to you.
Actual Md. Cetificate of Title
Shortly after paying off the loan, we received a document from the bank that looks exactly like the blue Certificate of Title, but it’s red. This is called the Maryland Notice of Security Interest Filing.
What is the difference between a Security Interest Filing and the Certificate of Title
In Maryland, if you took out a bank loan (a lien) on you car, the bank is issued the “Notice of Security Interest Filing”, while you are issued the “Certificate of Title”. Your title will list your bank as the lienholder, and you can’t do anything with the vehicle (sell, trade) without the red Security Interest Filing document issued to you.
Actual Md. Cetificate of Title
OldHillcrestGuy
Well-Known Member
Just had a thing on Channel 4 about the Historic tags, if you register it as historic there is no inspection required in Maryland as long as its 20 years old. But there are restrictions as to when you can drive it, cant be everyday commuter to work but there is very little enforcement of that law the story said.
Just turned tags in December, my insurance would not drop it off my insurance till they saw a receipt. You can drop them off at a tag and title place but there is a small charge. MVA you need a appt. I believe to even drop them off there.
I understand I'll need to sign off the back of the actual title and add the second document that shows the lien has been paid off. The buyer will receive both of these documents and I'll remove my tags and thank them. Then I'll turn the tags into MVA and cancel the insurance on it only AFTER turning the tags in. Thank you all for your input. Much appreciated.
MVA won't issue tags and new title without current inspection certificate. If you get that inspection done beforehand, you could indeed go to a privately owned Tag & Title place like Fast Stop (the only way I ever do tag and title work...for 30 years) and get it all taken care right then. MVA requires an appointment to do that...can't just walk in.
what he said, wait a few days for the MVA to process your plate being turned in.
For some reason they get the insurance cancellation instantly and it takes much longer to get the returned plates into the system.
It wouldn't possibly have anything to do with the daily fine you are assessed for not having insurance on a vehicle, eh?
mitzi
Well-Known Member
When I sold one last year, I turned the tags in and then cancelled the insurance. Made the sale with lady, signed title over to her. It's hers. She got temp tags the next day for inspection. It passed and she came over the next day with her tags and away she went. Worked for both of us.