What Are the Consequences of Selling a Car Without Transferring Ownership?

[VanKaylee]

Selling a car without transferring ownership poses significant risks, as the vehicle's ownership remains under the original owner's name. If an accident occurs requiring compensation, the original owner may still be held liable. Below are the key considerations for transferring ownership when selling a car: Vehicle Condition: When selling a used car, never conceal records of collisions, water damage, or other accidents. Provide an honest and detailed account of the car's condition. Promptly complete the ownership transfer procedures for both the vehicle and insurance to avoid disputes during later use. Contract: Before selling the car, settle any outstanding traffic violations. After agreeing on a price, it is advisable to engage a reputable company to handle the formalities, which can save considerable time. During the transaction, ensure both parties sign a sales contract upon reaching mutual agreement.