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Daily Archives: August 25, 2022

How Do I Transfer Ownership After I Sell My Junk Car?

junk car

Transferring ownership plays a crucial role when you’re selling your junk car for cash. A legal ownership document shows the vehicle’s legal owner, which is why it’s a crucial step you can’t skip. The process can be intimidating without proper knowledge, especially for beginners. 

Transfer Ownership after Selling Your Junk Car

You need to fulfill some requirements when you decide to sell your junk car. In this case, you need to contact reliable and reputable buyers who can help you keep the process simple. 

License Plate

Whenever you decide to sell your junk car, make sure you haven’t left your license plate along with the car. If you plan on buying another vehicle, having that license plate on your hand will be more helpful and budget-friendly.  

You can also turn the license plate to the DMV. However, DMV varies depending on different states. Each state has its regulations; you should contact your local DMV to see their requirements and plans accordingly.  

Insurance

You need to remember your insurance plan during or after the sale. Assuming you have an active insurance plan, you need to cancel it after you sell your car. Some insurance companies even require a cancellation fee, so be careful of that.

Since you’re giving away your vehicle, it doesn’t make sense to have car insurance. However, depending on the buyer, you can suggest the transferring option. The coverage doesn’t necessarily need to be canceled. If you opt for transfer insurance, it will save cost and time for the buyer. You can suggest this option to the buyer, and they may find this a simple solution. 

Regardless, you need to cancel your insurance if the buyer isn’t on board with this idea. Since you aren’t the car owner, you don’t need to pay monthly insurance for the worst-case scenario. 

Follow up with DMV or BMV

Following up after the sale with your DMV (Department of Motor Vehicle) or BMV (Bureau of Motor Vehicle) is an essential step that you shouldn’t skip. Their policies and regulations change from state to state, depending on which state you are in and their respective budget. You may need to report a change of ownership to them. 

In many states, there’s a deadline for this step. You should check in with your local DMV or BMV to ensure you adhere to different laws. However, to stay on the safe side, you should finish this report within a day or two.

Reporting the change of ownership also frees you from any liability. You won’t be held accountable if the car gets in an accident either.  

Free Junk Car Towing in Boston

Contact us at Boston Junk Car for more details on how to transfer ownership of your vehicle, and we’ll make sure to streamline the process. We are reliable and professional junk car buyers who guide you through the sale and after. As long as you take care of these steps, we can take care of the rest. 617-719-6436

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