HOW TO SELL YOUR CAR
Odometer Disclosure Statement.
Power of Attorney
The best way to start is to arm yourself with information. Begin by determining how much your old car is worth. Online used car guides like those available at NADA are a good place to start.
To get the best deal on a trade-in, you'll want to remember a couple things:
Have a vehicle title in your name. You must have a title to the vehicle in your name, even if you have never driven the vehicle. You can't sell a car that isn't titled to you, unless you have Power of Attorney from the titled owner, or you are a licensed dealer. Car Sales Agreement
Pay what you owe before you sell the car. If you owe money for the car, your title will show a lien (a secured party). You must pay what you owe and get a lien release from the lender.
Out of sight — Focus on minimizing the problems you can see. Broken windows, scratched paint, exterior and interior blemishes, etc. Don't worry as much about changing the oil, getting an expensive tune-up or changing the spark plugs. Dealers almost always do these things on their own. They will most likely try and talk down your asking price based on what you both can see. The better the car looks, the better off you'll be.
Be prepared — Know what you old car is worth, know how much you want to get for it, and stand firm. Before you go in, set a baseline in your mind that you're not willing to break. If the deal isn't right, go somewhere else.
Flatter your car — First impressions are important and the way your car looks will be the first thing any potential buyer will notice. Give it a good scrubbing inside and out. Spend some time polishing with a good car wax and run through the inside with a vacuum. Clean the armrests, the ashtrays, all the nooks and crannies, and even the trunk. Stale French fries lodged between the seat cushions might not be a fair indicator of the car's condition - but it's quite a turnoff nonetheless.
Keep the motor clean — Consider hosing off the engine with a degreasing agent.
Perform a general maintenance check — Change the oil and make sure all other fluids are topped off. Make sure the tire pressure is at the level outlined in the owner's manual.
Change the spark plugs — Many buyers request to pull a spark plug to check for deposits of oil, and to assess the condition of the engine. And if they don't ask, pull the new sparkplugs for them.
Get all your paperwork in order — Prepare a folder containing a list of all maintenance records, the owner's manual, registration and title. The more organized you appear, the more confident a potential buyer will be that you've taken good care of the car. Odometer Disclosure Statement.
Set up a meeting — Once people start responding to the ad, you'll want to carefully consider the best way to meet with them in person. Most people won't buy the car based on a picture alone and will likely want to kick the tires. For your own personal safety, ask the potential buyer to meet in a public location like a nearby super market parking lot. Don't invite strangers over to your house.
Bring a friend — Bring another person along to the meeting if possible. There is always safety in numbers and you'll probably feel more confident with a friend nearby when it comes to any negotiations.
Protect yourself — If they want to go on a test drive, ask to hang on to their driver's license. If they don't have one, they shouldn't be driving around in your car.
Get paid! — If they like the car and agree to a purchase, request cash or cashier’s check. Don't accept a payment plan or personal check. Don't agree to accompany the buyer to "get the money." If the buyer is inclined to buy the vehicle an agreement can be struck to return to the same location at another date to make the exchange.
After you sell your vehicle
Once you've sold the vehicle, you must do the following:
Sign and date the title in the area for the signature of the selling owner or owners. If the title shows more than one owner and the names are separated by the word “and”, all owners shown must sign. If the word “or” separates the names, any of the owners shown may sign. If you lost the original title you will have to apply for a replacement title. Sign the replacement and give it to the buyer - even if you find the original. The original becomes invalid when a replacement title is issued.
Fill in the vehicle Odometer Disclosure Statement.on the title. This is required under federal law..
Fill in the selling price on the title. The Department of Revenue checks titles and investigates suspiciously low sale prices.
Fill in the name and address of the buyer or buyers on the title.
Provide the buyer with a lien release document from your lien holder; the buyer will need both documents to get a title.
Remove the license plates from the vehicle. You may transfer them to another vehicle you own. If the vehicle is a truck registered at 10,000 pounds or more, a farm truck registered at 16,000 pounds or more, a moped, a trailer or a mobile home, the license plates stay with the vehicle and do not need to be removed. To have a record of the sale, you may also complete form The Car Sales Agreement is provided for your convenience, it is not a required form. You may keep a copy with your records, and make a copy for the buyer as documentation of the sale.
If your car is less than 10 model years old, write in the odometer reading - even if you sell to a family member. The current calendar year minus your car's model year equals your car's age. The odometer reading is the number of miles on the vehicle, not on the engine (even if the engine is newer than the rest of the vehicle). Write the miles in the space provided on the title and show whether the miles are: Actual = The odometer has always worked properly and recorded all miles the vehicle has traveled.
Not Actual = The odometer was replaced and set at zero because of a repair; the odometer stopped working and the car was driven more than 30 days before repair; or, the odometer numbers were turned back.
In Excess of Mechanical Limits = The odometer showed 99,999 miles and turned to zero, instead of to 100,000.
Note: Only 6-digit odometers can record more than 100,000 miles. Don't record tenths of miles on the title.
Was it salvaged? A "salvage" brand is needed if your car is less than 7 model years old and was damaged more than 70% of its fair market value.
Was it flood damaged? A "flood damaged" brand is needed if water damage was more than 70% of its fair market value.
If your vehicle was salvaged, repaired, and passed inspection, your title should have the brand "rebuilt salvage." The brand "manufacturer buyback" on your title means the car was bought back under the lemon law. A brand of "stfarm not inspected" is placed on a vehicle declared by State Farm Insurance as a total loss, but not submitted as salvage, and was part of the State Farm settlement with the Department of Justice. The vehicle has not passed an inspection by a certified state salvage inspector. This is not a salvage brand.
Transfer plates to your next car
If you sell your vehicle and your plates aren't expired, you can transfer them to a car titled to you or your spouse. You can't transfer your plates to the buyer - even if it's another family member. If you don't use the plates, you can't get a refund for any remaining registration time.
Sell the right way to dealers
Tell the truth about your trade-in
Title branding laws that apply when you sell your car privately also apply when you trade it in to a dealer. A dealer may ask you to guarantee the condition of your trade-in under "Buyer's Representation" on the purchase contract. You must give accurate information, or the dealer may be able to sue you in court.
Junk it right
Junk the title if you junk the car
If you sell your car as junk, and you don't want the car to be driven again, write the word "Junk" across the title before you give it to the buyer or salvage dealer.
If you lost your title, you don't need a replacement title to junk the car. You can show the certificate of vehicle registration as proof you own the car, and sign a junk Car Sales Agreement.
Note: Once a vehicle is junked it can never be titled or licensed again, even if someone repairs or restores it.
Sell it right
Have a vehicle title in your name.
Pay what you owe before you sell the car.
Keep the title until the buyer pays you.
Give the most recent title to the buyer.
Have all owners sign the title.
Complete the odometer statement.
Get a title brand if needed
Here you download forms
