Tuesday, March 3, 2015

Filing a New Identity for Your Used Car

License plates of used cars aren't carried over to the new owner with the car itself. The plates are either destroyed by the previous owner or surrendered to authorities. This is to avoid using the plate for unlawful activity, as well as prevent the new owner from carrying any liability of the old owner.

The used car must then bear a new license plate. Normally, car dealers will help you go through the process of getting a new registration for a fee. On the bright side, vehicle registration is a deductible expense in Louisiana. To give you an idea on how registration for used cars work in the state, DMV.org explains a couple of key aspects.

Key Documents

Although vehicle registration comes with a bunch of paperwork, the essentials can be basically narrowed down to the Motor Vehicle Registration form, proof of insurance, and duly-completed title in the new owner's name. Other supporting documents are only required under certain conditions, such as:

·         Odometer disclosure statement (for private sale)
·         UCC-1 Financing Statement, security statement, or chattel mortgage (financing)
·         Notarized Bill of Sale (not necessary if the information is already in the title)
·         Proof of sales tax payment (out-of-state vehicles)
·         Current registration (out-of-state vehicles)

Plate Types

If you want a standard plate, the Office of Motor Vehicles (OMV) can get it done within the day. Special or customized plates can also be done in due time, but are only limited to select offices like Baton Rouge, Alexandria, and Lafayette.

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