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Should I Buy a Used Car from my
neighbor?
Yes, you can buy a car, van, SUV, or Crossover SUV from
your neighbor just as you would through auto classifieds in newspapers or online.
Regardless of the source you use to find the used car though, you still have
to deal with the fact that, buying a used car, truck, or suv, is usually on
“AS IS” condition; that is, no warranty. So, the real question is,
can you still be friends with your neighbor if the car, truck or SUV you bought
from them turns out to be a lemon? As always, having a certified auto mechanic
inspect a used car before you buy it gives you some peace of mind.
If
you do buy a car from your neighbor, we suggest that you get a Car Bill of Sale
for Motor Vehicles, from the owner/seller, to help you transfer ownership. Also,
have them fill out the car title’s buyer section in the name of the new
owner, and signed over. Most Department of Motor Vehicle (DMV) require that
the purchaser of a vehicle must apply for title and registration within thirty
(30) calendar days of the date of transfer. Check with your local DMV for car
title and registration requirements.
Then
call your auto insurance agent to purchase coverage, as most states DMV require
that you have auto insurance coverage on a vehicle before title and registration
of the car you buy.
Finally, it’s all about being able to maintain
a healthy relationship with your neighbor, should the car you buy from them
disappoints!
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