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Author Topic: Costs and Process of Private Selling in ON  (Read 185471 times)

Offline sirAQUAMAN64

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Costs and Process of Private Selling in ON
« on: June 16, 2006, 12:01:39 pm »
I'm sure this info is spread in posts here and there, but looking for consice summary.

High probability my car is going to be private saled in Ontario.

What are the costs and process for getting it certified and emission tested (or does it need to be emission tested - diesels are just 'visual inspection' so not worried if it does, but don't know)?

What is the process and cost if I sell 'as-is'?

I assume I just sign the back of the ownership over, or do I go into the MTO, orrrr...? I don't have clear understanding, obviously.

Any other tidbits or words of wisdom?

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Offline wing

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Re: Costs and Process of Private Selling in ON
« Reply #1 on: June 16, 2006, 12:05:14 pm »
You should go to the MTO and get the seller's package it is around $20-$25 it will have a history of your vehicle to show to potential buyers as well as the value that will be used for taxing the new owner (if higher than your selling price).

Safety is not regulated so expect to pay between $60-$120 if no repairs are required.  E-Test is $37 I believe after taxes, not sure if you need it for a diesel?

Then that is all on your end.
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Offline sirAQUAMAN64

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Re: Costs and Process of Private Selling in ON
« Reply #2 on: June 16, 2006, 12:28:03 pm »
I assume if I sell as-is I'm still required to pay the Seller's Pkg, right?
(Are you telling me the buyer only pays taxes on the black book value of it, or does he pay on the full price I sell it for? How can I have a value if we haven't negotiated yet?)

Do I have to pay the safety if selling as-is? I think it would pass anyway.

As for actually transferring ownership, is it as simple as signing the ownership or is there more involved?
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Offline wing

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Re: Costs and Process of Private Selling in ON
« Reply #3 on: June 16, 2006, 12:43:34 pm »
1)  The buyer pays taxes on the selling price or the RedBook which ever is higher, the redbook is in the seller package
2)  As-IS == no safety, if it passes safety you will get a better price for your vehicle with one.
3) Just sign and go....
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Offline sirAQUAMAN64

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Re: Costs and Process of Private Selling in ON
« Reply #4 on: June 16, 2006, 01:31:40 pm »
Excellent, thanks!  :bow2:
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Offline Ex-airbalancer

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Re: Costs and Process of Private Selling in ON
« Reply #5 on: June 16, 2006, 01:34:44 pm »
Quote from: wing on June 16, 2006, 12:43:34 pm
1)  The buyer pays taxes on the selling price or the RedBook which ever is higher, the redbook is in the seller package
2)  As-IS == no safety, if it passes safety you will get a better price for your vehicle with one.
3) Just sign and go....

I agree , having it safety will be easier to sell
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Offline DriverJeff

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Re: Costs and Process of Private Selling in ON
« Reply #6 on: June 16, 2006, 01:49:35 pm »
...and the Smog sniffer test too...
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Offline dr_spock

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Re: Costs and Process of Private Selling in ON
« Reply #7 on: June 16, 2006, 04:17:52 pm »
http://www.mto.gov.on.ca/english/dandv/vehicle/used.htm

Everything you need to know about buy and selling a used vehicle in Ontario.   It's helpful info as I recently bought a used car privately.  I had to teach the seller how to sell his car to me.  :) 

The basic cost to the seller is the cost of the UVIP package which is around $20.   It's the buyer's responsibility to pay the PST on the price sold (or the red book value on the UVIP whichever is higher) at time of registering the car at the MTO.   You'll need to draft a bill of sale. 
« Last Edit: June 16, 2006, 04:26:45 pm by dr_spock »
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Offline sirAQUAMAN64

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Re: Costs and Process of Private Selling in ON
« Reply #8 on: June 16, 2006, 05:03:22 pm »
Quote from: dr_spock on June 16, 2006, 04:17:52 pm
You'll need to draft a bill of sale. 

Just what the Dr ordered.

The bill of sale is included in the Selling Pkg, I just have to fill it it by the sounds of it?

Good official info  :)
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barrie1

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Re: Costs and Process of Private Selling in ON
« Reply #9 on: June 17, 2006, 06:07:14 pm »
The last and final thing is to make sure that the new owner does do the transfer within 6 days as well or legal problems for you and him can occur. Who knows what his intentions for the vehicle are going to be so you cover yourself by making sure he does this. Having the car safetied and E-Tested will command a higher dollar value for you so its a good investment to do.  :)
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dorin

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Re: Costs and Process of Private Selling in ON
« Reply #10 on: June 18, 2006, 12:05:59 pm »
You can't force the buyer to do the transfer but if you think he/she won't do it in a timely manner then you can go back to the licensing office a week later and have your name officially taken off the car.
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Offline ArticSteve

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Re: Costs and Process of Private Selling in ON
« Reply #11 on: June 18, 2006, 04:41:08 pm »
Quote from: dorin on June 18, 2006, 12:05:59 pm
You can't force the buyer to do the transfer but if you think he/she won't do it in a timely manner then you can go back to the licensing office a week later and have your name officially taken off the car.

You can't force the buyer to do the transfer

but you can also deny him the sale if he doesn't.  The "six days" transfer thing is very nebulous.  Highly recommended for you both to attend the office together.  You drive the car there and he drives it back.  Before hand make sure you can get the license plates off and bring tools to do so outside the office.  The buyer must have the tax ready.   I don't think they take cheques anymore.  They must also declare their insurance company and policy number.

If the buyer hasn't got the tax money or there are plate issues then have the buyer get a trip permit.  Triple check the safety inspection certificateprior for the exact serial number.  No numbers can be fudged or unreadable on those certificates.

If you are going to had over the car without going to the office together make sure you indicate the exact time of day the transaction took place.

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Offline mastershoe

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Re: Costs and Process of Private Selling in ON
« Reply #12 on: June 26, 2006, 11:04:56 am »
When do you collect payment from the buiyer and what is the best form - cheque, certified cheque, cash?
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dorin

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Re: Costs and Process of Private Selling in ON
« Reply #13 on: June 26, 2006, 12:05:21 pm »
IMO you can never go wrong with cash.  If it's a cheque then it should absolutely be a certified cheque.  Personally I'd ask the buyer to come to the bank with me and do the deposit with me in person.
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Offline Scaerio

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Re: Costs and Process of Private Selling in ON
« Reply #14 on: June 26, 2006, 03:34:40 pm »
Dorin,

Your comment on cash reminds me of when I sold my '78 Mercedes.  The guy paid for it in cash ($2000.00).  It was a Saturday - he got the money from three different ATMs - I had to deposit 100 $20 bills into one of my bank's ATMs.  It felt like I'd just done a big drug deal!  :D
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Offline safristi

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Re: Costs and Process of Private Selling in ON
« Reply #15 on: June 26, 2006, 03:46:58 pm »
..WHO KNEW NOSE !!??.... ;) :cp2: :stick: :fall:
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gta_driver

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Re: Costs and Process of Private Selling in ON
« Reply #16 on: June 28, 2006, 09:26:33 am »
I would get it safetied/certified when sold. I believe safety certficates have a time limit. If not sold quickly you may have to go an re-certify. Personally, I prefer certified cheque/money order. There are too many counterfeit bills floating around. I had a bad expereince with a cash sale many, many years ago.
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mdxtasy

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Re: Costs and Process of Private Selling in ON
« Reply #17 on: June 28, 2006, 09:32:27 am »
Quote from: Scaerio on June 26, 2006, 03:34:40 pm
Dorin,

Your comment on cash reminds me of when I sold my '78 Mercedes.  The guy paid for it in cash ($2000.00).  It was a Saturday - he got the money from three different ATMs - I had to deposit 100 $20 bills into one of my bank's ATMs.  It felt like I'd just done a big drug deal!  :D

My uncle sold his Mercedes E420 to a shady character....who paid with cash.  $17K US....the guy asked if it was okay to pay with $20 bills.  Uncle preferred $100 bills so the guy took his shoe off and took the money out right in the parking lot and paid the man.  Uncle thinks he had $17K in 20 bills in the left shoe, and the $100's in the right. 
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Offline DriverJeff

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Re: Costs and Process of Private Selling in ON
« Reply #18 on: June 28, 2006, 11:51:57 am »
Quote from: mdxtasy on June 28, 2006, 09:32:27 am
My uncle sold his Mercedes E420 to a shady character....who paid with cash.  $17K US....the guy asked if it was okay to pay with $20 bills.  Uncle preferred $100 bills so the guy took his shoe off and took the money out right in the parking lot and paid the man.  Uncle thinks he had $17K in 20 bills in the left shoe, and the $100's in the right. 

He must've had one leg longer than the other then.  :)
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mdxtasy

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Re: Costs and Process of Private Selling in ON
« Reply #19 on: June 28, 2006, 01:19:11 pm »
Quote from: Giant Dwarf on June 28, 2006, 11:51:57 am
He must've had one leg longer than the other then.  :)

He walked with a pimpin' limp....and he had a lean too. 
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