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Do the paperwork together. Call the banks and licensing offices in the area where you'll meet to make the exchange. Find a bank that will deposit or cash the check; or can do an instant funds-availability check. If you just cash the check and it bounces, so what? You have the cash. Also, some banks have a notary on staff. That can be nice for certifying the bill of sale. Afterwards you can caravan (or carpool) to a licensing office. Just call ahead to make sure of their hours, possible fees, and that the necessary people will be working at the time.
I did this once. It worked out great because it was convenient for both parties. Neither party felt like they might get screwed. It was necessary paperwork for both of us, so since we had to do it anyway, we agreed to do it at the same time and place. When I did this, the bank's notary called in sick so we ended up driving to a different branch, but otherwise it was a beautiful plan.
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