Selling a car privately: what to put in writing

What to write down

• Make, model, year, color, VIN and current mileage.
• The price, any deposit already paid, and when the balance is due.
• Known issues and past accidents or repairs. “None known” is an answer too.
• Whether the buyer had an inspection, or chose not to.
• Handover date and place.
• Who pays fines, tolls and insurance until the ownership transfer is complete.

A memo is not a title transfer

A signed memo documents the deal. It does not transfer ownership. In the US, the title is signed over and the change is reported to the state motor vehicle agency, and many states also expect the seller to file a notice of transfer or release of liability within a few days (California's is 5 days, for example). In the UK, the keeper change is reported to the DVLA using the V5C. Elsewhere in Europe, the national vehicle registry has its own form.

Some states and countries also require an official bill of sale form. Check the motor vehicle authority's website before the handover.

Payment safety

• Prefer a bank transfer that has arrived, or meet at the buyer's bank.
• Be careful with cashier's checks and payment apps from strangers; confirm funds before handing over keys.
• Never send the car's documents before the money is in your account.

Signing remotely

If the buyer pays a deposit before seeing the car in person, send the memo as a signing link. The buyer reads and signs from their phone, and both sides keep the same signed PDF.