Your car-buying dreams know no bounds or state lines. If you’re ready to invest in a car from an out-of-state seller, keep in mind the following tips.
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Just like a vehicle you’d purchase in your neck of the woods, and out of state car purchase needs a vehicle history report, according to U.S. News & World Report writer John M. Vincent.
“You should pay particular attention to any liens listed on the report, and make sure they are satisfied before you attempt to move the vehicle to another state,” he adds.
Along with knowing its history, you should understand its current state by obtaining a pre-purchase inspection from an independent and trusted automotive professional.
Taxes and applicable fees can be complicated even without crossing the border — be sure to find out tax, car registration, and title requirements in the state you’re buying and the state you reside in.
“Though some states have no sales tax, don’t expect to be able to buy a car there and take it to a state that has sales tax without paying the taxes. The jurisdiction where you will operate the car will require that you pay any applicable taxes and fees,” according to Vincent.
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Be sure to insure before you drive off into the sunset, too.
“You will want to check with your insurance agent and lender before you purchase the car to determine what insurance you will need and what the limits and deductibles should be,” advises Vincent. “Requirements vary by state, and different lenders can demand a certain amount of insurance to protect their collateral.”
News Source:U.S. News & World Report
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