Great points, especially on the loans. I'd like to add that you don't need REG 262 except in special circumstances, such as if the seller doesn't have the current title, or with loans (maybe that was part of the context though) [1]. But avoiding that trip to the DMV is a great blessing
When I sold my vehicle in CA, both the buyer and I filled out the transfer of liability online [2] - no appointments needed. The title ("pink slip") contains the bill of sale with the odometer reading that you would otherwise put on REG 262. The buyer and seller both sign the title which also has the paper version of the transfer of liability should you be inclined to mail it. The buyer generally will have to go to the DMV to pay use tax and turn in the old title.
When I sold my vehicle in CA, both the buyer and I filled out the transfer of liability online [2] - no appointments needed. The title ("pink slip") contains the bill of sale with the odometer reading that you would otherwise put on REG 262. The buyer and seller both sign the title which also has the paper version of the transfer of liability should you be inclined to mail it. The buyer generally will have to go to the DMV to pay use tax and turn in the old title.
[1] https://www.dmv.ca.gov/pubs/reg_hdbk/ch5/ch5_5.htm [2] http://www.dmv.ca.gov/online/nrl/welcome.htm