So, you’ve decided to take the leap and sell your car. If only it was as simple as sticking a notice in the windscreen stating it’s for sale and hoping someone will knock on your door to purchase it; of course you know this, which is why you’ve come online to do some research. In this article, we’ll talk about some of the considerations you need to make when selling your car privately and when you sell your car to a dealership; some of the benefits of each and some of the things you should be cautious about.
When you sell it privately
When you sell your car privately, the main considerations are most certainly the legalities involved. You’re in charge of updating all the paper work and informing the authorities and insurance company. Here are some key points to remember when selling your auto:
• Sell a car in the state that it’s registered. If you want to sell it outside the state, you have to register the car within the new state and get new license plates. If you do sell a car to someone out of state, bear in mind they’ll probably want a lower price for your vehicle due to the legal hassles involved.
• If someone wants to test drive your car, don’t forget they need to be on your insurance or covered on their own. It’s a criminal offence to let an uninsured person drive your car.
• Once you’ve sold the car, tell your insurance company. Either transfer it to a new vehicle or cancel it. Also important is to tell your state’s Department of Motor Vehicles your auto has changed hands. The new owner will also have to register their ownership.
• If you’re going to sell privately, insist on cash up front or payment by bank transfer. Never accept a cheque; you might never see the person who bought your car from you again and the cheque could bounce.
• Essential information to include in the customer’s sale receipt: you’re selling the car in its current condition and without a guarantee, plus the price paid for the vehicle and the millage of the auto.
• Make sure your car is clean, fresh smelling, and in running order.
Places to sell my car privately
To get the best price for your car, sell in state using local newspapers, magazines, and websites. Don’t forget to park your vehicle in full view of other motorists and pedestrians with a large ‘for sale’ sign containing your contact information in the windows.
Understand that the longer it takes to sell your car, the higher the costs for advertising it in the newspapers, magazines, and on the websites will be.
Websites often charge another fee if you finally sell it online.
If your car is in particularly good condition or is in demand for parts, advertise it out of state; people will travel for a very good deal.
When you sell it to a dealership
If you’re looking for a hassle free sale and don’t mind not getting paid as much as you would if you were selling privately, then selling your car to a used car dealership is probably the way forward. Plus, you can often part exchange your old car for a new one.
You should shop around for a car dealer if you can, and find online car dealers too. Different car dealers will give you different prices, so keep this in mind when you’re looking for the best price.
The benefits of using a car dealership are a quick sale, hassle free legalities, and you can often part exchange your old auto for a new one.
On the flipside, you won’t get as much money for your auto as the car dealer is trying to make a profit too.
Whatever the way you choose to sell your car – dealership or privately – make sure you abide by the laws in your state, and ensure your car is clean and in working order.
A short note on Author: Susie, from North Wales, works as a weekend journalist. On weekdays, she works for Sell Your Car Today, sellyourcartoday.org.uk.