Am I liable for an auto accident if I'm a cosigner but not on the title, registration, or insurance policy?
You can be sued if some random stranger that you never had any interaction with gets in an accident. There is really no barrier to people suing you if they get it in their head that they want to. Winning that lawsuit is another matter entirely.  Whether you would be held liable and lose the lawsuit depends on whether someone can convince a court that you are partially responsible for a financial loss. Not sure how anyone could possibly successfully argue that in this situation. I am sure that laws differ from state to state.  My brother and I had to take over my dads finances due to his health.  He had a vehicle that had a loan on it.  We refinanced the vehicle and it was in our name.  One of our family members needed a vehicle and offered to take over the payment.  Our attorney advised us to be on the insurance policy with them and make sure if was paid correctly. We are in Indiana.  I know it is hard to discuss finances with family members.  However, if you co-signed the loan I think it would be wise to either have your name added to the insurance policy or at least have your brother show proof it has been paid.  If you are not comfortable with that it may be a good idea to make sure the bank has your correct address and ask if they would notify you if insurance has lapsed.  If your on the loan and there is no insurance at the very least if the vehicle was damaged you would still be responsible to pay the loan. It might be possible to sue you successfully if someone brought evidence that your brother was absolutely totally unsuitable to drive a car because of some character flaw, and without your financial help he wouldn't have been able to afford a car. So helping a brother to buy a car, if that brother is a drinking alcoholic, or has only a faked driver's license and you know it, that could get you into trouble.  A not unsimilar situation: A rental car company could probably be sued successfully if they rented a car to someone who they knew (or maybe should have known) was disqualified from driving and that person caused an accident.
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You could also trade the car in to a dealer if you purchase another vehicle from a dealer if they offer that option. (Trade-In's generally bring in less money than private sales as a general rule).  Some car places will do consignment requests to help you sell your car.  However, they will normally take a percentage of the sale as payment for this service. What paperwork? If you own your car, you should have the title in hand.  There are instructions on title on how to sign it over to another person.  If you have a loan through a bank, the bank would have this title and you would need to express your interest in selling the property to the bank and work out the details with them. You do not hand over a title to anyone until full payment is made and the property will become theirs. Beyond the title, you will need to fill out a release of liability or report of sale form for the state. Titles have a portion you can mail in or you can fill it out online. This is to report the sale to the state to release liability from your name. You will also need to create a ""bill of sale"" between you and the buyer.  There are many examples online or you can just create your own.  You really need just a statement saying I release all interest of the vehicle and no warranty implied to this person with the VIN of the car, model, make, year, the buyers name and signature, and the sellers name and signature.  This is your contract with the seller and they use this when they go to register the car in their name. Maintenance Disclosure? This is completely up to the seller on what they want to disclose.  You are selling a used car and the buyer should know that.  Vehicles with detailed records sell for more money and buyers are more interested in cars that have history records.  This is where buyers should be the most careful, so the more records and history you can show, the better they will feel about the purchase.  I believe you should share everything you know and any information about the history of the car.  The more positive information you can prove/share, the more money or chance of sale you could have. Most money? First, clean the car out.  I am amazed at the amount of people that try to sell a car and don't even bother to clean it out.  A detail job would be great to get.  You are trying to sell it, so you want it to look the best.  Next,  I would fix anything minor and cheap to fix.  The less things wrong can mean more money.  Back to your maintenance question, you will want to show how you have maintained the car.  People might also ask for a carfax report to prove its clean history.  Irresponsible and deceiving people tend to leave out important details in a car history like accidents, flood damage, or having re-built titles.  You want to give the most information you can.  Do not lie about any detail.  Though, this can be a little tough when you are a 2nd or 3rd owner of a car and do not know about the original owners." At minimum, put down the sale price less what insurance would pay if you got in an accident when driving home, OR purchase gap insurance. This auto loan calculator is fun to play around with.  The larger the down payment, the smaller your monthly payments will be.  Don't forget to budget insurance and gas!  Insurance on a car you make payments on is more expensive. http://www.bankrate.com/calculators/auto/auto-loan-calculator.aspx A buddy of mine had a string of bad luck and totaled his car a few months after the date of purchase.  He learned what it meant to be 'underwater', insurance paid him a few thousand less than the value of his loan.  What's worse than having no car, having no car and a loan! Accidents and tickets more than 3 years old generally won't affect you.   I use an insurance broker who shops a bunch of different companies and buys me the best policy. (He gets a cut as a middle-man, but saves me more than going direct and gives great advice when I have a question.)   Since you haven't been only your own policy lately, it will cost you more than someone with a 3 year history with a perfect record, but if you shop around, you will find something at a fair price.   Also, your credit score often factors into the price you pay for car insurance also. "3) NOT to claim her as my dependent. No additional tax return (since   she is NOT my dependent), but also no penalty. My end of year balance   would be $0 No. Not claiming her as a dependent does not save you from being responsible for her penalty. You are responsible for her penalty if she is your dependent (i.e. she meets the conditions for being your dependent), regardless of whether you claim her on your tax return or not. If you have the option of claiming her or not, then she is your dependent, and you are responsible for her penalty. 26 CFR 1.5000A-1(c)(2)(i): For a month when a nonexempt individual does not have minimum   essential coverage, if the nonexempt individual is a dependent (as   defined in section 152) of another individual for the other   individual's taxable year including that month, the other individual   is liable for the shared responsibility payment attributable to the   dependent's lack of coverage. An individual is a dependent of a   taxpayer for a taxable year if the individual satisfies the definition   of dependent under section 152, regardless of whether the taxpayer   claims the individual as a dependent on a Federal income tax return   for the taxable year. [...] Form 1040 instructions, Line 61: [...] If you had qualifying health care coverage (called minimum essential   coverage) for every month of 2015 for yourself, your spouse (if filing   jointly), and anyone you can or do claim as a dependent, check the box   on this line and leave the entry space blank. Otherwise, do not check the box on this line. If you, your spouse (if   filing jointly), or someone you can or do claim as a dependent didn’t   have coverage for each month of 2015 you must either claim a coverage   exemption on Form 8965 or report a shared responsibility payment on   line 61. [...] So you cannot check the box and must report exemptions for your sister, or report a shared responsibility payment. Form 8965 instructions, Definitions, ""Tax household"": For purposes of Form 8965, your tax household generally includes you,   your spouse (if filing a joint return), and any individual you claim   as a dependent on your tax return. It also generally includes each   individual you can, but don't, claim as a dependent on your tax   return. [...] Your sister is part of your tax household regardless of whether you claim her, and you must compute her shared responsibility payment for any months she did not have insurance and did not qualify for an exemption." Sounds like you need to contact your ex and sort it out. If you have co-signed the loan, changes are you are equally responsible even if on party chooses not to pay, then the bank will come after the other one. If you no longer wish to be part of the arrangement and your ex still wants the car, she will have to buy you out of the car and become fully responsible for the liability. Note that this kind of entry on your credit record may also affect your ability to get a job. Basically, you're going on record as not honoring your commitments... and unless you have a darned good reason for having gotten into that situation and being completely unable to get back out, it's going to reflect on your general trustworthiness. Title agencies perform several things: Research the title for defects. You may not know what you're looking at, unless you're a real-estate professional, but some titles have strings attached to them (like, conditions for resale, usage, changes, etc). Research title issues (like misrepresentation of ownership, misrepresentation of the actual property titled, misrepresentation of conditions). Again, not being a professional in the domain, you might not understand the text you're looking at. Research liens. Those are usually have to be recorded (i.e.: the title company won't necessarily find a lien if it wasn't recorded with the county). Cover your a$$. And the bank's. They provide title insurance that guarantees your money back if they missed something they were supposed to find. The title insurance is usually required for a mortgaged transaction. While I understand why you would think you can do it, most people cannot. Even if they think they can - they cannot. In many areas this research cannot be done online, for example in California - you have to go to the county recorder office to look things up (for legal reasons, in CA counties are not allowed to provide access to certain information without verification of who's accessing). It may be worth your while  to pay someone to do it, even if you can do it yourself, because your time is more valuable. Also, keep in mind that while you may trust your abilities - your bank won't. So you may be able to do your own due diligence - but the bank needs to do its own. Specifically to Detroit - the city is bankrupt. Every $100K counts for them. I'm surprised they only charge $6 per search, but that is probably limited by the State law.