Guys all of you have hit on valid points but this process is so simple....you both sign your titles to each other and trade keys..that is all...you do not have to go to DMV to do this....but when you get ready to title the vehicle then u must go to dmv...they do not recognize trades in va so you have to pay title tax and tags..the whole 1 dollar thing is bogus...also whatever price you put on the title (and u have to put a selling price on the title)make sure u both give eac h other a bill of sale dmv WILL ask for it if the selling price is lower than the book value of the vehicle...ALSO how to get the vehicles to your house...you can either trailor them or if you feel comfortable letting each other use the tags that are the vehicles to transport them...or you can to dmv and sign up for a transport tag if one or the other party lives out of town...just make sure you put ins on the vehicle before you pick it up and drive it all you need then is the vin# yr make and model of the car for the ins company....