by Armando Martinez
License Plate Transfer Process in Illinois
When selling your car in a private party sale in Illinois, you need to remove the license plates before completing the sale. The plates stay with you, the seller, and cannot be transferred to the buyer. You have 60 days from the date of sale to either transfer the plates to another vehicle you own or return them to the Illinois Secretary of State.
To transfer ownership of the vehicle, you need to provide the buyer with a signed and dated title, a Bill of Sale, and a copy of your registration card. The title should include the selling price, date of sale, and odometer reading. As the seller, complete and mail the Notice of Sale form (attached to the bottom of the title) to the Secretary of State’s office. If the title does not contain a Notice of Sale form VSD 703.2, may be downloaded at https://www.ilsos.gov/publications/pdf_publications/vsd703.pdf .
If there is a lien on the vehicle, the lien holder will have possession of the title until the loan is paid off. Once the loan is paid off, the lien holder will release the title to the seller or the buyer.
License Plate Fees in Illinois
The license plate fees in Illinois can vary based on the type of vehicle and other factors. Here are some of the fees you may need to pay:
- Title fee: $150
- Registration fee: $151 for passenger vehicles, $41 for motorcycles, and $118 for electric vehicles
- Sales tax: 6.25% of the purchase price
If you're obtaining a new license plate, there will be an additional fee of $101.
Conclusion
Selling your car in a private party sale in Illinois can be a smooth process if you understand the license plate transfer process and associated fees. Remember to remove the license plates and either transfer them to another vehicle you own or return them to the Secretary of State. Be sure to complete and mail in your Notice of Sale as soon as possible following the sale. Provide the necessary documentation to transfer ownership to the buyer, including a signed and dated title, Bill of Sale, and registration card. Buyers can expect to pay title fees, registration fees, sales tax, and a fee for new license plates. By following these steps, you can successfully navigate the license plate process and have a successful private party car sale in Illinois.
This article was written by Armando Martinez. Armando Martinez is among the nation’s experts on automotive titling, registration, DMV services and document operations. With nearly two decades of experience across a broad range of financial services functions and some of the largest names in auto, from Wells Fargo to Uber, Armando combines vision and ingenuity with a wealth of information so auto shoppers and sellers can learn from his experience.
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