If you are looking to sell a financed car in NJ, it involves a pretty simple process. For a vehicle that is financed or leased, having all the paperwork is very important. Follow the below-given guide to know about the paperwork needed to sell a financed car in NJ.
Paperwork Needed To Sell a Financed Car in New Jersey
- The first thing after you sell your car is to remove your vehicle license plate and sign on the back of it and include the following details:
- Name and address of the buyer
- Date of sale
- Mileage odometer reading
- The sale price of the vehicle
Make sure to transfer the title to any NJ Motor Vehicle Commission (MVC) office or a regional service center within 10 business days from the date of the sale.
- Mileage odometer reading
As the seller, you should also provide the mileage odometer reading and if there is any discrepancy in the reading you must also sign and fill out a Universal Title Application. - When selling a car in New Jersey, You need an original certificate of title with all the information filled out on the rear side of it. Apart from this, you need to do the extra paperwork if your vehicle has a lien on it or it is exempt from sales tax. In this case, you’ll have to provide proof of insurance and sales tax payment.
- After going through all the documents, the buyer can visit any NJ MVC office to complete the registration and receive the new license plate after paying the required fee.
Most car lovers tend to upgrade their cars after every three years. Selling a financed car in New Jersey takes some extra time but it is an easy process. Follow the above guide to avoid any hassles and sell your car quickly and successfully.