What is necessary for a dealer to do before a buyer's vehicle can be sold?

In the context of selling a vehicle, obtaining financing approval is crucial for completing the sale. This step is necessary because it ensures that the buyer has secured the funds needed to purchase the vehicle. Without financing approval, the transaction cannot proceed since the dealer needs to confirm that the buyer can fulfill the financial obligation of the sale.

Securing financing is often one of the primary hurdles in the car-buying process, as it determines whether the buyer can afford the vehicle. Therefore, before moving forward with the sale, the dealer must ensure that financing has been approved to guarantee that the transaction can be completed successfully.

While notifying the buyer and obtaining the title are important steps in the process, they typically occur after the financing is in place. Filing a notice with the IRS is not a typical requirement for individual vehicle sales but rather pertains to larger transactions or specific tax implications, which are not standard for all dealership sales. Thus, financing approval stands out as the critical necessity to facilitate the sale of the vehicle.