So I'm selling my s2000 and need some help. I've never conducted a private sale before. The buyer will be giving me cash to pay off my current lease.

What steps do I need to take?

Thanks!

 

[QUOTE=stooken,Jun 28 2007, 09:18 AM] The buyer will be giving me cash to pay off my current lease.

 

Alright I just contacted Honda and this is what they told me. I just want to make sure I didn't leave anything out.

- I have to send in the payoff and fax a written statement of mileage
- Title comes home to me, I sign it and transfer it to the buyer
- Buyer handles the rest (goes to DMV to register and submit transfer of ownership form)

Anything else? It sounds so simple!

 

What are the sales tax consequences of purchasing your leased car from the leasing company in California. In Ohio, you pay sales tax when you buy the car from the lessor, then your buyer pays sales tax when he buys it from you.

 

You also might want to give the buyer a basic Bill of Sale (google for on-line examples) when he pays so he has some sense of protection.

 

I checked on that. As long as I transfer the title within 10 days, I don't have to pay anything.

 

 

That's pretty much it.

There's a form i think through the dmv that declares the mileage.

Title comes to you, but it takes awhile.

Once the title comes to you, you sign it over to the new buyer and you do the notice of transfer and release of liability within 5 days. https://mv.dmv.ca.gov/nrl/welcome.do

Have the buyer sign a bill of sale and send them on their merry way with the car and the paperwork for the DMV to register.

http://www.dmv.ca.gov/pubs/brochures...cts/ffvr32.htm