Steps In Purchasing a Vehicle From a Private Party
When Purchasing a Vehicle From a Private Party, the Following Paperwork is Required:
- A title, properly transferred from seller to buyer.
- If title is with a lien holder, a bill of sale, insurance on the new vehicle, and proof of ownership from previous owner will allow you to receive a temporary registration/tag.
- If the title is not a Colorado title, you will need to get a VIN verification (available at any emission station upon request for a fee, licensed Colorado dealer or Colorado law enforcement officer).
- Older Colorado titles may require a notary. If the title has a spot for a notary to sign, it needs to be notarized, or Statement of Transfer (in lieu of notarization of Colorado title), Form DR2445 needs to be filled out.
- A Bill of Sale
- If the vehicle is newer than 10 years old, an odometer statement is required.
- Most titles provide a place for the odometer reading.
- If you have a lien on the vehicle you will need a security agreement/loan agreement. The security agreement must list:
- Description of the vehicle including year, make and VIN.
- Total amount of payments (amount of lien)
- Signature in ink, carbon or copy, stamped as true copy of original.
- Lien holder's name and address.
- A certified weight slip will need to be submitted when titling a truck that weighs between 4,500 lbs. and 10,000 lbs.
- If the truck has a Colorado title, or an out of state title that shows the weight, a weight slip is not necessary.
- The same applies for a motor home.
- If you have plates you wish to transfer, bring your registration and plates from the old vehicle.
- Proof of Insurance on the new vehicle is required, a fax copy is acceptable.
- Sales tax and registration fees are collected at the time the title is processed. Credit Cards are not accepted