I am planning on either selling or donating a car but I have never done either before. So, what are some things to know about selling a car via private party?

Well, if you have the title at hand, don't just hand it over.

Whoever you sell it to (and hand over the title), you must make sure that you:
--Have proper identification of buyer. (Get photocopies of Driver's licenses)
--Payment clears.
--All DMV paperwork is complete.
--Get addresses, not P.O. Boxes or business addresses.
--Maintain insurance coverage until completion of sale.


If you still owe on the car (title is with the lien holder), it will be a little bit more hassle, as payment must be divided between you and the lien holder. When payment clears, the title takes about 2 weeks to arrive to you, then you have to give that title to the new owner.

How about advice for BUYERS from private party? things to look for, telltale signs of a scam, negotiating tactics, etc?

Do you draw up any sort of contract or just follow those guidelines?

Do you draw up any sort of contract or just follow those guidelines?
Yes, you can. You don't need a lawyer; you just need all DMV documents, proof of identification, and proof of sale (transfer of funds and ownership).

How about advice for BUYERS from private party? things to look for, telltale signs of a scam, negotiating tactics, etc?
Buyers must be aware that:
--the car exists,
--the title exists,
--the seller is the owner of the car (prove with the title AND registration AND seller's driver's license; and make copies of everything, including your check),
--if there is a lien, you are sending payment to the lien holder (bank), not the seller.