Buying used car in North Carolina is certainly much more affordable than buying a new one, but requires a thorough understanding of obtaining car ownership.
Buyers must make sure that they obtain the Vehicle Identification Number that can be used to order a vehicle history report. This report will provide priceless information about the history of the car and will help in determining whether the car is worth the price or not. You must also get that vehicle inspected for emissions and safety. This check is of particular importance as it can uncover hidden problems and should be carried out before you pay for the car.
As a buyer, you must realize that the ownership of the car will be in your name only when the title is in your name. For this purpose, you will have to apply for a title transfer. You can fill out the information on the back side of the original title which will include the buyer’s name and address, date of sale, and odometer reading (for a car that is less than ten years old). This title must be notarized and the seller must hand print his/her name and signature. In addition to this, you will need to take the following documents to the Vehicle & License Plate Renewal Office:
- Title application form MVR -1;
- Odometer Disclosure Statement MVR -180;
- Declaration of Eligible Risk MVR -615;
- Damage Disclosure Statement MVR-181;
- Lien release information if applicable;
- A Bill of Sale if purchasing the car from a dealership;
- Acceptable proof of identification.
The next step should be to apply for registration. For this you will have to furnish proof of liability insurance that covers the minimum requirements of the state of North Carolina.
Your payments for registration and title transfers must be in the form of cash, money order or checks. The North Carolina Division of Motor Vehicles will charge forty dollars in certificate of title fee and a 3% highway use tax. But if you do not apply for a title within 28 days, an additional fifteen dollars will be charged.