Thursday, November 8, 2007

Consumer brief

NEW YORK (11/8/07)--When you sell your car, make sure you sign the title transferring it out of your name before handing over the keys. If you don't, you could be slapped with parking tickets--or worse--incurred by the next owner. Some shady used car lots don't transfer titles. Instead, they sell the car to someone with poor credit who can't make the payment. Then they repossess it, then sell it again. Take precautions: If you sell to a dealer, sign the back of the title to clear yourself of any liability. Some states require the dealer to sign the title. Then photocopy the front and back of the title for your records. Alert the Department of Motor Vehicles (DMV) that you've sold the vehicle, either by a form supplied by DMV, or by letter, return receipt requested (http://abcnews.go.com Oct. 22)...

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