How to Fairly Trade Vehicles With Another Person

All of us have driven a friend's car here or there. Most of us have tried to sell a car. We know that neither of these activities really benefits us as much as owning a car we want or that best suits our needs. However, there is a way to switch cars with someone else so that both parties are happy. Read on to learn how to fairly trade vehicles with another person.

Instructions

Difficulty: Challenging

Things You’ll Need:

• Internet connection
• Email account
• Phone
• Vehicle to trade
• Vehicle title
• Trade agreement form

1. Browse websites that allow users to post items to sell, buy or trade for free such as Craigslist.
2. Click on the "Post to Classifieds" link specifying that you are looking to perform an even trade--not to buy or sell.
3. When you get a response, choose a place to meet up to look over the two vehicles and decide if they are an even trade or if one is a little more valuable than the other.
4. If both parties are still interested in trading, negotiate if there are any extras to be included. For instance, an older truck might need new tires or other parts. Use this to negotiate a fair price if needed.
5. Both parties should sign off on the vehicle titles and fill out the buyer's section of the title of the vehicle they are receiving.
6. Bring along and fill out a letter stating the terms of the trade and have both parties sign. Each should retain a copy just in case.
7. Trade keys.

Tips & Warnings

• Remember you must still pay taxes on the new vehicle when you transfer the title to your name.
• Do not conduct the trade unless the other title is clear with no liens.