If the buyer never files the title after purchasing your car, LightSpeedBid protects you through documentation, legal compliance, and state specific reports that confirm you have sold the vehicle. When you sell your car, junk your car for cash, or trade in a damaged vehicle through LightSpeedBid, your legal responsibility ends the moment the buyer receives the signed title and you complete any state required notifications.
The buyer is legally obligated to submit the signed title and required forms to the DMV. LightSpeedBid only works with licensed buyers who always file their transfers because failing to file would violate dealership and salvage regulations. This means LightSpeedBid sellers do not face the risks that occur in private sales where individual buyers may delay or forget the transfer.
Even if a buyer somehow failed to file the title, LightSpeedBid provides several layers of protection for sellers. First, the bill of sale and pickup confirmation serve as legal proof that you no longer own or control the vehicle. Second, LightSpeedBid provides links to your state’s Notice of Transfer or Release of Liability form. Filing this form ensures the DMV immediately updates its records to show that the seller is no longer responsible, even if the buyer delays the transfer.
If the buyer does not file the title but you have filed the release of liability and LightSpeedBid provides your documentation, you cannot be held responsible for tickets, towing, impound fees, or future taxes. The DMV recognizes you as no longer associated with the vehicle. Additionally, LightSpeedBid’s buyers are professional auto recyclers, dismantlers, or dealers, so their incentive is to file titles quickly to avoid penalties.
In short, LightSpeedBid guarantees your protection even if a buyer does not file promptly and ensures the seller faces no negative consequences.