Selling a Car Privately? What you legally need to know.
If you are among the near 100,000 Ontario residents currently listing their vehicle for sale on Kijiji, AutoTrader, Craigslist, etc there are a few things you should know. These apply to private sales only.
A “UVIP” will not be required on sales completed through CarbonOak.
By Ontario law, private sellers of most motor vehicles, including motorcycles, must provide buyers with a Used Vehicle Information Package.
The used Vehicle Information Package (UVIP) includes:
- Description of the vehicle
- Vehicle Indentification Number (VIN)
- Plate Number
- Year, Make
- Body Type
- Ontario vehicle registration history
- Odometer information
- Outstanding debts (link to liens) on the vehicle
- Wholesale and retail values for the vehicle’s model and year, if available
- Retail sales tax requirements
- Bill of sale
- Tips on vehicle safety standards inspection
Once you have a “UVIP” and find a buyer, it is now time to:
- Draw up the Bill of Sale with all the necessary information
- Fill out and sign the application for transfer on the back of your registration permit in the “vehicle portion”.
- Hand the Buyer the UVIP
- Keep your licence plates and the “plate portion” of the vehicle registration permit. You will need the permit if you decide to register your licence plates on another vehicle.
The UVIP is required to protect purchasers from making a misguided purchase, and is a necessary measure for anyone buying or selling a vehicle privately.
However, if you decide you do not want to deal with the hassles associated with selling your vehicle, we will buy your car. Learn more.
Information provided by www.mto.gov.on.ca and the full information can be found here
Keep in mind, a “UVIP” will not be required on sales complete through CarbonOak.
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