Question: What Do I Need For A Title Transfer In Illinois?

What do I need to bring to the DMV for a title change?

What Do I Need To Transfer A Car Title?Completed Title Transfer Application Form, Signed and Notarized.Proof of Car Insurance Coverage.Insurance Policy Documents with Name and Date.All Vehicle Documents from Seller, Including Bill of Sale.Driver’s License or Government Issued State ID.Required Title Transfer Fees..

Who pays sales tax when selling a car privately in Illinois?

The buyer must pay $95 to the Secretary of State, and a tax to the Department of Revenue. For vehicles worth less than $15,000, the tax is based on the age of the vehicle. It starts at $390 for a one-year old vehicle.

Do you pay taxes on a gifted car in Illinois?

At the time you apply for an Illinois title with the Secretary of State for a vehicle you purchased, leased, or acquired by gift or transfer, you are required to submit either payment of tax or proof that no tax is due before your vehicle can be titled. … You must make separate payments for tax due and title fees.

Can I use my old license plate on my new car in Illinois?

In Illinois, license plates belong to an owner, not the vehicle. Therefore, you cannot transfer ownership of license plates when you sell a car or transfer a title. You can only transfer license plates to another vehicle you own.

Does the title need to be signed?

Most states require that all owners listed on the title must print and sign their name when transferring ownership. Any fields that require information about a buyer/purchaser/transferee are asking for information about the person you are selling or donating the vehicle to.

How much is title transfer and plates in Illinois?

Correct fee for title is $150.00, transfer of plate fee is $25.00. registration fees vary depending on the type of plates required for the particular vehicle. If an original title is lost the vehicle owner can apply for a duplicate title.

What do I do after I buy a car?

Follow these steps after just purchasing a used car:Transfer the Title: First, have the seller transfer the title to you. … Get Insurance: According to Auto.com, you need to insure your car before you register and drive it. … Get an Inspection: Next, have your car inspected by a mechanic or dealership.More items…•

Do you pay sales tax on a used car from private seller in Illinois?

Illinois private party vehicle use tax is based on the purchase price (or fair market value) of the motor vehicle, with exceptions noted on the right (i.e., for motorcycles and specific situations). … The fair market value may be obtained from a licensed dealer. Note: A trade-in deduction is not allowed on this tax.

Can you transfer a car title online in Illinois?

You can do this online or by stopping at your local Secretary of State (SOS) office. Illinois residents will still need to pay a $95 charge for a duplicate, as well as any taxes or fees that may be outstanding on the vehicle.

Do I need a bill of sale to register a car in Illinois?

No. An Illinois bill of sale is not required to register a vehicle. However, a bill of sale can be a helpful document. A title is required and you are not allowed to operate the vehicle with the plates on the vehicle at the time that it is sold as those belong to the seller.

Is it better to sell or gift a car to a family member?

The buyer is responsible for sales tax on the actual sale value of the vehicle, and you aren’t liable for penalties even if the buyer never pays. This may make selling a car a better option than giving it to a friend or family member, which could cause the gift tax to come into play.

How much does it cost to transfer a car title to a family member in Illinois?

Obtain and complete the Private Party Vehicle Tax Transaction form, which can only be found at a local SOS office. Pay the $95 title transfer fee. There are other fees that may be assessed as well, including the following: Name changes: $15 per name.

What documents are needed to register a car in Illinois?

The documents required for car registration in Illinois are the car title, Odometer Disclosure Statement, and proof of insurance. If you’ve bought your car from a licensed dealer, they can handle sending the title and Odometer Statement to the Secretary of State.

Can you register a car without a title in Illinois?

Only your local DMV can. Call your local DMV, explain why you do not have a title, and ask if you could get a bonded title.

Does Illinois car title need to be notarized?

You will need to sign the existing title and make sure the buyer signs it as well, usually in front of a notary public. You will also need to complete the information on the back of the title after you’ve finalized the sale of your used vehicle.

Does a bill of sale have to be notarized in Illinois?

These documents protect both the seller and buyer and in many cases make it possible to register items with the state when needed. … These forms also prove change of ownership. If a document requires notarization, do not enter signatures until all parties are before a notary public.

Is it better to gift a car or sell in California?

tl;dr: You may end up paying less in annual registration fees if you process the transfer as a gift and provide a market value lower than the DMV-pegged value. It’s cheaper to register the car from what I understand. From my understanding, you won’t have to pay use tax if you transfer the car as a gift.

How long does it take to transfer car title in Illinois?

Please allow two to three weeks processing time for Duplicate/Lost Title applications and six weeks processing time for New/Corrected/Transfer Title applications.

How much does it cost to title a car in Illinois?

Standard tax, title and license fees charged on a new vehicle in Illinois are as follows: Sales Tax: 7.25% (additional county taxes may also apply) Title Fee: $150. License and Registration Fee: $151.

What part of a title does the seller keep?

On the next line, the seller(s) should print their name(s). On the line next to that they should print the date the vehicle was sold. On the next line, where it says “Signature(s) of buyer(s),” the buyer(s) should print their name. Again, if there are two buyers, both people need to fit their signatures on that line.

How do I sign over a car title in Illinois?

Where Do I Sign an Illinois Title? Sign on the front of the title on the lower left side where it is marked “Signature(s) of Seller(s)”. Print your name on the front of the title above “Printed Name(s) of Seller(s).” Remember to always sign your title in blue or black ink.