Puchase a new car from friend

[ilovecar]

Hi,

I am going to purchase a new car from my friend. I live in Napervill, IL.

After purchasing, what are all the steps do I need to take to transfer the title into my wife's name.

Please advise me.

Please help :-)

With regards,

[somick]

I do not think this post belongs here. But as long as you post it here, I can tell you what steps I took in California. Ilinois could be different.
I went to DMV (department of motor vehicles). They have all necessary forms there.
If you put full price you will have to pay taxes for that amount.
I you declare that you paid him 1 (one) dollar you will pay taxes for 1 dollar.
Decide for yourself!

Sam

[Brian R.]

Why not have her buy the car under her name in the first place?

[KimMG]

Are you a AAA member? In California, I can go to the local AAA office instead of standing in line at the DMV.
Have you checked the website for the DMV in IL?
Have your wife go with you to sign any required papers, leave your name out of the transaction.

[ilovecar]

Hi,

Thanks for your reply.

My wife is going to drive the car . That is why i cam going to puchase on her name. Any problem with it ?

With regards,

[idmetro]

I believe anyone could drive the car whether their name was on the title or not. They do need to be listed on the insurance coverage though so that is where I'd focus my attention. In my case I get the bill of sale on a vehicle in my name and then add my wife when I do the paperwork at DMV. I also list them as Mr Jones OR Mrs. Jones. this way if a vehicle needs sold it only requires one signature. If you list it as Mr Jones and Mrs Jones then BOTH MUST sign off the title before it can be sold. if you purchase it and place only your spouses name on the title then ONLY your spouse can sell it. Even if they are in BF Egypt and the car is here their signature is REQUIRED! Call your lcoal DMV and make sure what the rules are in your area. Good Luck!

[KimMG]

If you want the car in your wife's name and not both of your names, take her along to sign the paperwork and leave your name out of the transaction. I have my cars titled with two names, me or, this way two signatures are not required if I want to sell or have to deal with a problem and if I am not available the other person can take care of business. Don't know about the community property laws of your state and how only having one name on the title will affect you or your spouse.