Selling a car can seem like an overwhelming task if you’ve never done it before. Luckily, it isn’t as hard as it seems. The process begins with thoroughly cleaning your car, removing all personal belongings and deciding how you’d like to sell it. You may decide to sell your vehicle in to a dealership, trade it in for another car or sell it privately, which will net you more money on average. No matter which option you choose, the paperwork required is the same.
The absolutely most important piece of paperwork required to sell a vehicle is the title to the car. If you own the car outright you should have a clear title in your possession with only your name. If you’re still making payments on the vehicle, your title will also have the name of the applicable lien holder. When you pay off your vehicle, the loan company will then release the lien on the car and you’ll get a new title issued with only your name. If you’ve paid off your car and have not received a clear title you’ll need to contact the lending company to inform them so they can contact your state’s Department of Vehicles. If you’re still making payments on a vehicle you wish to sell, make sure you contact the lender beforehand to make arrangements.
In addition to the title, make sure you bring your vehicle’s registration with you when you sell your car. The car’s registration is very important because the DMV tracks information about all vehicles on the road, such as the owner, plate number, VIN and title number associated with the car. If you don’t have the vehicle registered there may be a few things you can do when selling to get around this hurdle, depending on your state. The first step to sell a car without a registration is to write a bill of sale. This must include the following information: both your name and the buyer’s name, addresses, the vehicle VIN number, the year, make and model of the car and the amount that you are selling for. This should be signed in front of a notary. Next, go to the DMV for paperwork to sell the car. You must bring your title, valid ID and proof that you own the car. At the DMV you’ll be able to do a title transfer, signing the title over the the person buying the vehicle. There will be fees associated with this, depending on the state, that may include sales tax. The buyer is responsible for these fees, as well as paying for their own registration.
Additional paperwork you should bring with you when you sell your car includes any receipts for repair work and regular maintenance. If you have kept a regular log of maintenance you’ll also find you get a higher sale price for the vehicle. This also makes potential buyers more comfortable with the purchase because they are ensured the car was cared for. You should also bring a list of any parts that have been replaced on the vehicle and copies of any required safety checks in your state.
- How Much Does it Cost to Transfer a Car Title?
- How to Sell a Car?
- How much is Car Registration?
- Avoid DMV Headaches
- How Do I Sell A Car?
