Selling a car is not as easy as selling other assets. Car owners cannot just accept payment from the buyer and hand over the keys. There are certain other steps that have to be followed in order to make sure the sale actually goes through properly.

Those who might not have ever sold their car to a private owner before may be wondering if they require a bill of sale to do so. This may or may not be required depending on where the sale takes place. Different states may have different regarding all the various different requirements for actually selling a vehicle.

The best advice that can be given about a bill of sale is to always make one if you are the seller. If you are the buyer, always request one. This should be the case regardless of what the individual laws are in a particular state. The reason is the bill of sale reflects a very important document that logs the transaction of the actual sale.

What is a Bill of Sale Document?

Not everyone may be familiar with what a bill of sale actually is or why it might be important. The best way to describe a bill of sale would be that it is an official document that accurately reflects the sale transaction between the two parties. Specific details about the sale are also logged. The seller gains a documented record listing when the document was sold and who it was sold to. Various selections of personal information about the buyer such as name, address, phone number, age, and so on are listed on the bill of sale.

Usually a bill of sale document for a vehicle has this kind of information on it:

• Vehicle year, make and model
• Vehicle VIN
• Seller’s name
• Buyer’s name
• Date and time of the sale
• Sale amount
• Odometer reading

You can write one up yourself or you can find various auto bill of sale templates online. They’re easy to find and print out. You can then just add in your own information.

Does it Need to be Notarized?

In certain states, merely writing a bill of sale is not enough. There may also be a requirement to have the bill of sale notarized. While this is an extra step that comes with a cost, no one can credibly claim the document is a forgery once is has been notarized.

The buyer obviously does not want a lemon. The buyer certain would prefer there was some documented proof of who the car was purchased from and how much money was paid for it. Furthermore, the bill of sale can offer a means of being able to check out the vehicle history report on the car.

Vehicle History Documentation

A vehicle history report is not a bill of sale but it may be something that the buyer will want to see. It might be something that they run themselves if you don’t run it. If you don’t want to be surprised when someone shows up with a vehicle history report, it’s best to order one yourself so that you know what’s on it and then you won’t be forced to lower your price.

The vehicle history reveals who many miles are on the car, how much regular maintenance work was done on the vehicle, and if any major repairs were performed on the car as a result of an accident. The vehicle history can be traced from the VIN number of the car as listed on the bill of sale.

Legal Vehicle Title Transfer

One thing that is necessary to point out here is a bill of sale is not a title transfer. The title of a car is the legal, valid state document that proves who actually owns the car. A title has to be ordered from the DMV. When a car is sold, a title transfer request has to be made and submitted to the state DMV offices.

A bill of sale categorically does not provide legal proof of ownership. It only provides documentation a sale has taken place and you should still have one but just know that is not the same thing as transferring the title and that still does need to take place.

The Bill of Sale Protects You

Anyone who sells a car does not want to have to deal with any lingering problems with a vehicle that has been sold to another person. A bill of sale can serve as legal proof that the car has been sold in case any bottlenecks in the registration process lead to unforeseen and unwanted issues. For example, two weeks after selling a car, a letter from the local police department may come in the mail with a citation enclosed. The citation might state a red light camera recorded the car committing a moving violation. The bill of sale could help get the ticket dismissed once the information is presented in traffic court.

This does bring up another point. Sellers should not give away the original bill of sale before making a copy. The copy should then be stored away with the seller’s personal financial records.

Conclusion

When the time comes to sell a vehicle, check with the local laws in your state. This way, you can be sure to remain in proper compliance with all steps. And once again, even if a bill of sale is not required, make one anyway to be safe.

We have more information here on this website about vehicle bills of sale as well as a downloadable and printable bill of sale here:

Bill of Sale Document for Selling a Car

If you have general questions about this topic, please leave them in the comments area below and we’ll try to help. We’re not lawyers but we might be able to give you a good answer. And then also please share this article with your friends over on Facebook.

Are you having trouble deciding whether to sell your car because you still owe money on it? There are a few things you can try and choices you have.

How to Privately Sell a Car That is Financed

A lot of people think that Carmax is a good and easy way to sell your car because they are all over the nation, and can give you fairly good terms when you want to sell your car. When you have the problem that you owe more than the car is worth however, the choices are not so easy, and it might be worth it to keep your car a little longer to find the best deal.

A dealer is probably the best option in that case. You can still sell it outright, but you will owe something on the balance.

Some people think this is a better option than trading for another car that you still owe more money on. It really depends on how comfortable you are with owing money on your car. Most people buy their cars with the debt still outstanding on their old car, and the dealer would make you what is called a ‘rollover’ loan.

You may find a private buyer at Carmax, and in such a case the company will pay your lien-holder and the individual can buy the car from Carmax. But this depends again on whether you owe more than the car is worth.

Selling it With a Loan

It’s easier to sell a car after you have paid it off. But under some conditions it may be necessary to sell it while you still owe some money on it.

It looks as if the best way to solve such a conundrum is to open an escrow account so that the buyer’s money will be safe, while the owner can sell the car to the bank or lender in order to pay off the loan. This isn’t quite so simple as it seems.

A Turn Off for Buyers?

It may turn potential buyers off if they find out that there’s an outstanding loan on the car. It means they’re going to have to jump through some hoops with you in order to close the sale and get the clear title transferred to them.

Other buyers may see it as an opportunity to get a lower price. They’ll gladly jump through the necessary hoops with you but they’ll want a lower price to pay for the car. Maybe it’s not a big deal – just know that they may ask for a lower price since there’s a loan out still.

Try to Pay it Off

If it all possible, try to pay of the car first. If you can maybe borrow money from someone or use some other money, then it might be a good choice to first pay it off. In doing so, you’ll attract more buyers for it and that means you can get a better price and sell it more quickly.

Then, once you have your successful sale, pay back the money that you borrowed to pay off the car. You’ll then be a bit ahead financially than if you tried to sell a car with a loan and had buyers talk you down in price because of the loan being there on the vehicle.

Other Options You May Have

One of the easier methods however, is to get the book value of your car and once you have found a prospective buyer, you can both sign a bill of sale, with the stipulation that the new owner will pay the outstanding bill or pay you until the balance is paid. In this event you must keep copies of all transactions so that there will be no question of who is paying what.

One more way to make the transaction is to find a private party that wants your car, and make an appointment with your lender. Then you both go to the lender or bank at the same time and have them help you with the paper work.

Your current lender is really the first place you should start however because they get asked questions like this all the time. When you do this through your local lending institution, they are happier as well. Before you start to sell the car, find out it’s worth, and check out all the options you have including searching the Internet. You may find it easier than you thought.

One more option to yet think about is to just wait and not sell the vehicle now. If you can pay it off in 6 months, then do you best to do that instead. Sometimes the best thing to do financially is to just wait and not make a move.

More Advice on Selling a Car With a Loan

The Sale of the Vehicle

If there’s a loan on it or not, remember all the other things you need to do to have a successful sale. You should clean the car, get some things fixed, take good photographs, write good ads, advertise the car both offline and online and then take the calls that come in and answer questions. Doing all these things will help you get more money for your vehicle.

You’ll have to put some effort in if you want to make some money or make enough money on the sale to pay off the loan and be free of that burden.

Conclusion

Again, it’s trick to sell a car when there’s money still owed on it because it’s not technically your property to sell. The bank or lender still legally owns all or part of it. In order to transfer the title of the vehicle to another person, the title must be clear – which means there can be no other lien holders, or in other words, no loan out on the car. It must be free and clear to sell it.

Here’s another great article we have here about this topic, which I invite you to read:

How to Sell a Car Privately When it is Financed

You’ll find more information and great tips there.

If you find this website helpful, please like it on Facebook, share the articles and bookmark it. If you have a question, then post it below in the comments section and we’ll do our best to answer it or maybe someone else visiting the website can answer it, too.

Just as the World Wide Web has revolutionized the way people conduct their businesses, so too it has produced new ways to sell one’s own car or house. It remains as complicated a process as ever, however, and you need to know how to do it correctly. This article will outline the correct way to sell your car online.

Remember: You are Selling a Product

When you sell your car, online or otherwise, what you are doing is marketing a product, and you want to present that product in the best possible light. Describe what you liked best about your vehicle and give a thorough description of all of its amenities, including radio, CD player, TV, Internet connection, air bags and the like.

When people are looking to buy a car, they’re trying to picture themselves in the vehicle. They might see small things that they like. In order for people to notice those things, you need good pictures and you need to be thorough with your description. Maybe these potential buyers are looking at similar cars and if the seller of another car like yours does a better job describing it and taking good pictures, then they will most likely get the sale instead of you.

Your car is a product. Like any other product you get interested in buying, you have to present people with the benefits. What do you really like about the car? Explain it to them. Write about the features they will really like and why. Get creative.

Prepare Your Car to Sell

Before you even put your vehicle up for sale, it is of utmost consequence that you make sure it is in top condition. Whenever people buy a car, if they are smart, they will examine it thoroughly for any defects it may contain, and may even have it inspected by a professional. No one wants to buy a new car, only to be saddled with the burden of cleaning it and taking care of any dents, scratches or other unsightly marks. That’s a turn off for sure. Try to minimize that as much as possible.

The first step in the cleaning process is to remove any unnecessary clutter so that potential buyers can easily see what the car has. Then, vacuum it to remove the dust. If there are any spills, try to get them out with stain remover; if they will not come out, then conceal them beneath the mats. Wipe the plastic surfaces clean with spray and wipes designed expressly for that material.

Use products like Wipe New to get your car looking really good / in showroom condition. Check over our tips on detailing your vehicle to easily add hundreds of dollars of value with just a little bit of elbow grease.

Having done the interior of the car, proceed to clean the exterior. First, hose down the car. Then wipe the metal parts to remove any dirt or bird droppings, and clean the windows and mirrors so that there are no spots on them (you can buy liquids used to treat windshields so that rainwater does not leave any residue on them; it can save you a great deal of work). Finally, have a professional repair any dents or scratches in the vehicle.

Do Your Research

Once you have gotten the task of preparation out of the way, you now have some research to do. Using the Internet, local car dealers and newspaper auto classifieds, find out how much a vehicle of your model is worth. This is an important step for sure. You want to price the car right to attract buyers.

Take Photos

Take photographs of your freshly-cleaned car and post them online. They should be taken from different angles so as to form as complete a picture of the vehicle as possible. They should also be clear and of high quality so make sure the lighting is adequate. If necessary, enhance the pictures on your computer but not to the point where you’re essentially lying – just fix things like lighting and shadows.

Take a lot of photos of the interior and exterior of the car in a nice location. If the background, behind the car is too cluttered or distracting, that won’t help. Make sure you show all four tires as well as under the hood and in the trunk.

Another, good idea is to create a video of the car. You can do it with a good camera phone even. Just show the interior and go around the entire exterior. It doesn’t have to be Hollywood quality but just an honest and thorough view of the car so that people can see more of it. You should even have it running so that they can hear how the engine runs.

The Online Selling Process

Once again, you must do your homework so you will encounter few surprises. Specifically, you want to know on which site to do your selling. Pick several sites and find out how reputable each one is by reading customer ratings and also seeing what the Better Business Bureau has to say. Posting fees must be considered too. Ask others who have successfully sold their vehicles online what sites they used and why. Avoid those that ask for your personal information; they are certainly not legitimate businesses.

We have a good article here you might enjoy that goes over the process of creating a good ad for your car:

Six Steps to Create and Effective Used Car Ad

Once you find sites on which to sell (you should use more than one to get the maximum number of buyers), follow all their instructions for posting ads. Fill in all the pertinent information about your car (its make and model, the year it was made, its mileage, technical specifications, options, the price for which you are aiming and your contact information). You may be asked for other things as well. If a fee is charged for posting ads, give your credit card details.

What I like to do is have a separate phone number and email account just for selling a particular car. That way, I can turn both of them off and I don’t have to worry about accepting calls or emails about the vehicle ever again. You can use Google Voice for a free phone number and then just up a separate email account with a free service like GMail.

Handle all Communication Promptly

When you do start getting interest in your vehicle in the form of phone calls and emails, make sure you get back to those potential buyers promptly. You’re a salesman/saleswoman now, so get in that mode. Be cheerful when talking with them and sound excited.

In the past, I’ve called people about cars I’ve seen in the paper and I’ve been really surprised at how they talk to me. Some sound like I’m bothering them or they maybe don’t give good answers and I have to keep asking them the same question over and over. Maybe they’ve never had customer service jobs but that’s not an excuse – we’ve all been on the other end of the sales game and have been sold to, so we know how we want a salesperson to act.

Conclusion

This isn’t the end. I want to give you some more, great articles that are here on this website. The more you know, the better – so check out these great articles on how to sell a car:

• What to Do When a Buyer Shows Up
• How to Protect Yourself When Selling a Car
• Bill of Sale Document for Selling a Car

Again, selling your car online is key. That is where your audience is. People can view your car listing while sitting in their living room or on their smart phone when they are riding a bus. They no longer have to come out and first look at it. This is great for you because the calls and interest you get will be genuine interest. Don’t forget to treat those people well and answer all their questions. Be honest and be glad they’ve contacted you… you do want their money after all, right?

If you have any comments or questions, please post them below. And don’t forget to like this website and share it with your friends!

Selling a vehicle isn’t always as easy as we first think. There are a lot of different methods that can be used to sell a vehicle and with each of these different methods comes different possible outcomes. Some of these outcomes involve the successful sale of the vehicle while others involve nothing but problems and headaches. The difference, of course, is in which method is used and how we go about using it.

How Things Have Changed

Before people began selling their vehicles online, it was typically straight forward. We would simply drive on over to the used car lot to get an offer, place a for “sale sign” in the window of the vehicle, or place an ad in the local paper’s classified section. One of these methods would usually end up working but it usually took much more time than anyone wanted to wait. Then the World Wide Web entered the picture and changed the way we buy and sell everyday items, including our vehicles.

The Internet is, by far, the most effective method used to sell vehicles today and for very good reason. When you place an ad in the local classifieds, or place a “for sale” sign in the window of a vehicle, the possibility of a final sale is limited by the number of individuals that actually become aware of the sale to begin with. To put it plainly, when more people are aware that a vehicle is available for purchase, the possibility of it being sold increases exponentially.

When you think about it, it makes perfect sense. The Internet isn’t called the World Wide Web for nothing. When you place an ad on the Internet to sell a vehicle, it’s ability to be viewed is only limited by the number of people with the ability to use a computer to get online. Now the “for sale” ad that was once limited to the local community is available for viewing by those in the entire state, country, and world.

While the ad being viewable by the entire world wouldn’t make much of a difference, when selling a vehicle, it being viewable by the entire state as well as surrounding states would. You’d be surprised at just how far people are willing to travel to take advantage of a great deal on a good vehicle. In fact, it isn’t uncommon to find people willing to travel from several states away just to pick up a vehicle that they purchased online.

Sell a Car Online

So now the question becomes how do we successfully sell a vehicle online and get cash for it? The answer to that question is actually much easier than you might think. There are a number of great websites that offer assistance with the sale of used vehicles. Most of these websites are geared towards individuals who want to personally sell their vehicle without having to deal with a middle man. Finding, and using, these sites is the best way to sell your vehicle for cash.

In most cases, you will be able to do enough research online to make a decision on whether or not that particular site will work for you. As a last resort, you can always enter the site name along with the word “reviews” into the search bar to bring up customer reviews on the success or failure of their attempts when using the website. The main thing to keep in mind is that, when it comes to the Internet, there are always other options. You never have to feel rushed into using one particular website if you are not comfortable with it.

Sell Your Car to a Dealer

One thing to consider is selling your car to a local used car dealer. Your car should be in good shape and not a junker because put yourself in the dealer’s shoes – they are going to have to try to sell it, so there should be some demand for a vehicle that they want to buy.

If you do sell a car to a dealer, just know that you won’t get very much for it. Again, they have to fix it up and then market it (advertise it) and sell it. They have to pay for the electricity at their lot. They have to pay a salesman. They have a lot of expenses. If you think your car is worth $5000, then only expect to get maybe $2500 to $2700 for it at the most.

This might not be the best option but if you need some quick cash for your car, then it’s one of the few options you have. To really get the most for your car, you’re going to want to sell it on your own. It’ll take more time and more work on your part but you’ll walk away with more cash than if you sold it to a dealer.

Scrap Your Car

Another option you have is to just junk your car and get cash for it. You can sell your junk car for cash if you want if you take it to a junk yard or place where scrap metal is bought. You won’t get a lot for it but if you need cash in your pocket, this is definitely an option.

Donate Your Car

Yet one more thing to mention is donating your car to charity. No, you don’t walk away with cash but you will walk away with a receipt and that receipt is good to show that you made a donation to a charity and you can use this as a deduction on your taxes (a write off). Make sure the charity is registered as a non-profit organization or else you won’t be able to deduct it.

Selling a Used Vehicle

Conclusion

The great thing now is that it’s much easier to sell a car than it used to be. When I was a kid, all there was were classified ads in the newspaper, hanging up signs at grocery stores and used car dealers. Today, you can do all of that AND also sell your car online. People don’t even have to leave their homes and they can find your car either on their computer or smart phone. That’s amazing if you think about it!

But to get some quick cash for your car, just posting it on Craig’s List might not be enough. It might not work fast enough. Sure, that’s a good place to start and you might try it for one weekend but if you need money faster, then we’d suggest going to a car dealer or scrap yard. Those are your best options.

If you have any comments or questions about this article, please leave them below and we’ll do our best to answer them. Please also be sure to like and share this article in your social media!

Selling a car has never been easier than it is today, thanks to the Internet. The Internet has opened up doors that no other method, for selling a vehicle, has ever been able to open. The reason for this is in the fact that there are very few people today who don’t use the Internet for one thing or another. With the number of people who get online increasing with each passing day, it is no wonder that online buying and selling has become the number one method used by those selling their cars today.

This article will explore selling a car online and through more traditional, offline methods.

The Basics

Placing a “for sale” ad online is actually quite simple and there are a number of different ways to accomplish this task when selling a vehicle. The difficulty comes when people find out that there are more ways to get money for a car than to just outright sell it. We’ll get to that in a minute but to cover the basics, make sure that you have your car ready to go (looking its best), priced well and then think about how and where to sell it.

It always helps to sell a car locally. When it’s local, people can physically come see it and test drive. This is always best, so you have to get your car out there where your ideal audience or market will see it.

Location, Location, Location!

If you have a more luxurious car, then maybe park it in a retirement community or office park area where people that can afford the car will see it. If your car is on the lower end of the scale, then park it areas where there are more apartments because a lot of your potential buyers will be in that area.

Where you can’t go wrong is places like a shopping mall or other area with all kinds of potential buyers will be. Just be careful and be sure to get permission if you actually park a vehicle for sale on commercial (private) property. If you don’t get permission (and maybe think about getting written permission), then you could get your car towed. Going with a city street is often your best bet.

Another good place might be outside a large church on a Sunday morning so that people coming to church and leaving the church will see it. I’ve done that.

Above all, think like a businessman and get your product (your car or truck) in the right place and at the right time so that you get it in front of the biggest audience of potential buyers as possible.

Online Auctions

There are more people auctioning off their vehicles today than ever before and the possibilities are incredible enough to surprise anyone.

There are a number of different benefits to selling a vehicle through an online auction. The biggest is in the fact that it is very possible to make more money than you might have ever thought to ask for in an outright sale. When you attempt to simply sell a vehicle online, you usually place a price on the ad and hope to get offers. However, when you use an online auction site to sell your vehicle, you allow people to bid against each other for a predetermined amount of time.

This might not seem like a very smart selling technique but it really is. There are ways to make sure that your vehicle doesn’t sell for any less than you are willing to take for it. When used properly, they will still allow the final selling price to get much higher than you would have expected in the first place. This particular technique is called a “reserve” and it is used for exactly that purpose. A “reserve” is a price that a seller sets into their auction telling the system that the auction will be voided unless the final price goes above that specific amount.

This is just one of the safety techniques that people who sell their cars through online auctions use to protect themselves from losing money. There is another technique that can be used when selling a car through an online auction and it involves setting a starting bid. A starting bid is simply the price that a person who is selling their vehicle would like the bids to begin at. This is an alternative for those who don’t like using “reserves” in an online auction.

You see, there are a number of different techniques that can be used when selling a vehicle through an online auction website. Each of these techniques has been set in place to help protect those who are selling their vehicles from losing money during an auction. By using these techniques, anyone can increase the possibility of making much more money than they would have ever expected. This is the main reason for the incredible increase in the number of people using online auction websites when selling their vehicles.

It isn’t difficult to find these auction sites because there are quite a few of them. The important thing to remember is that not all of them are going to produce the same results. This is where a little research can go a long way. By looking into the company running the online auction site, you increase the odds of the sale of your vehicle being a profitable sale. Online auctions can be a very valuable tool for selling vehicles when they are run by legitimate companies and when the tools offered to sellers are used properly.

Selling a Vehicle Online With Classified Ads

If an auction just sounds too risky or not your style, then you might choose to start with the more traditional method of classified ads. Places like Craig’s List, Auto Trader and other online car advertising websites is where you’ll find a lot of people looking to buy a car. It’s where people look now.

You will want to make sure you create an effective used car ad so that you say the right things and advertise your car well. We’ve got great articles here on this website that address that including this one:

How to Quickly Sell Your Used Car Online

And then here’s a good video with more tips and information:

Conclusion

Really, there are a lot of places to sell your car. The smart bet is to try to sell it both online and offline. Get your car looking its best and then get it out there. Even printing up flyers and hanging them up around town can’t really hurt. Be creative and smart about selling your car. Don’t get discouraged if you try and don’t get any interest. Don’t give up but keep trying.

Look through more articles here for even more advice on how to sell a car – there are lots. If you have a question or comment, please leave it below.

There are a lot of variables to making the decision of selling a vehicle. What are the pros and cons to waiting? What are the pros and cons to selling now? Hopefully this article can help you with your decision making process.

Why Oh Why?

First question you need to ask yourself is, why do I want to sell my car? Is it an extra car that you just don’t use much anymore? Did your transportation needs change and you are wondering if you can do without? If it’s the former than there are several things to consider. One would be maintenance, even if you rarely use the vehicle you should still maintain it for when you do end up selling it. Things like keeping it clean and making sure it’s still in good working order are important but because you aren’t using this car regularly those costs probably won’t add up as much. There’s less wear and tear and it’s not like you have to pay for gas as often as you would with a car that is used daily. You will, however, have to continue to pay insurance for it, so if that is a cost that you feel adds up then that is certainly a consideration.

As to the latter, then there are some additional considerations. One being, are you still actively paying off the car? If you have found other transportation means that you feel are adequate to your needs then having to pay probably hundreds of dollars a month, plus gas, plus insurance, plus other variables such as tolls or parking depending on where you live, then all of that can add up to quite the sum. While with bus fees in most cities, for instance, might cost you a $100 to $200 a month, depending on usage. If you have already paid off this vehicle well then the other fees associated with having a car day-to-day can still be more than using the bus or other transportation means.

By understanding why you feel the need to sell your vehicle you better understand the urgency of the situation. Another factor to consider is the market itself.

How is the Car Economy?

Since the recession began, the demand for vehicles has dropped because a lot of people have decided they cannot afford making such a large purchase. While there are differences in the used car market vs the new car market, it is important to acknowledge that demand for any type of car is currently weak and this affects all types of vehicles across the board.

A Buyer’s Market or Seller’s Market?

One might also call this time a buyer’s market because for those that can or need to buy a new vehicle they have a lot more power and options than they would in a healthier market, thus potentially making it more difficult for someone trying to sell.

On the other hand, there were a lot of older cars that were scrapped during the “Cash for Clunkers” government program and that means there are fewer older cars available – which there is always a demand for.

What is Your Car Worth?

One more aspect to examine would be the depreciation of your vehicle. Calculate how much you could potentially get for your car now and in a year or two. This is especially important if you still owe money on your car. If you are in the lucky spot of being able to get more for your vehicle than you owe, then it would almost be silly not to make the attempt at selling it.

The first thing you’ll want to do is find out how much you owe. Call your bank or lender and get the payoff amount. They will tell you what that is and then how long that amount is good for – like maybe 2 weeks or 30 days. It’s the amount you’d have to bring in to completely pay off the vehicle.

If you don’t owe anything on your car, then go to the next step…

The next thing to do is figure out how much you can get for your car. There are websites like Kelly Blue Book and others that will help you estimate what your car might be worth. Another good place to look is eBay Motors. We explain how to do this in another, good article here on this website:

What Should I Sell My Car For?

Are You Attached to Your Car?

Another thing to understand is that even for the most practical, logical, and/or pragmatic person, selling your vehicle might become somewhat emotionally difficult — it’s not uncommon for people to become attached to their vehicles. Not only is it a big purchase, but a lot of people spend time researching for one that fits not only their needs but also their style, there is a lot to get attached to.

Sell it Yourself or With a Dealer?

Finally, one last consideration would be if you plan on selling to a dealership or privately; the former will probably mean getting less for your vehicle but the latter will most certainly take longer to sell. Ideally, you want your car to sell quickly and get a lot for it. Sure, that’s ideal but it might not happen. It’ll depend on things like your market, the economy, the time of year and your vehicle. Going with a dealer might be the best option for you, so definitely think and consider it. You can even talk to a few dealers and get some offers.

Conclusion

Ultimately, you will have to make the decision if you want to sell your car or wait. If you’re not sure, then you can always put it out there for sale with a higher price and see if you get any interest. I’ve done that… I got it ready, advertised it and put a high price on it. I didn’t get any takers then but at least I knew that I didn’t miss out on anything – meaning, a buyer that really wanted it for about any price. You might get lucky and find such a person but to get in that situation, you have to make the decision to sell your car or not.

If you just can’t afford your car right now, then put it up for sale and at get at least what you owe on it. When you get rid of your car, you won’t have expenses like fuel, insurance, repairs and cleaning (car washes, etc.). You’ll save money. You can always save up or choose to finance a car later when things get better.

Thanks for stopping by and reading this article. We hope you share it with others. If you have any questions or comments, please leave them in the comments area below and we’ll be sure to answer your question.

When a vehicle costs more to maintain than it is worth, it is time to consider getting it out of your garage. Even though the book value may be minimal, the scrap metal price often makes it worth selling. There are multiple options to consider when you are ready to part with your junk. A phone call or two is all it should take to get an eyesore out of your yard and some cash in your hand.

Scrap Metal Recyclers

These businesses pay by the pound for all metal including cars and trucks. If you are able to bring it to them they will weigh the car and pay you the current metal price. The price can vary greatly day to day so if you are looking for the best price, you can call ahead to see what they are currently paying.

If you have no way to get the vehicle to them, most can come out and tow the vehicle away for you. When you choose this option, they will often quote you a price for the vehicle and pay when they arrive to retrieve it. You may make less than if you took it directly to the yard yourself, however you save on the time and cost of towing.

Garages

Most car service garages have a need for quality used parts at a reasonable price. Purchasing scrap vehicles is a method for them to attain parts. If you have a vehicle with some useable parts, you may find a garage willing to pay you for the car. Usually these are smaller, owner operated facilities, rather than dealer garages. They usually will pay only a minimal amount but most garages that are interested will tow away the vehicle themselves.

The downside is that you might spend a lot of time calling around to see who might be interested in taking your car. You might think the more rare your car, the better but that might not be true. If a car is rare, they might not use the parts quickly, which means they will hang around a while. If selling to a garage, the more common the car, the better.

Salvage Yards/Used Parts Dealers

Businesses who deal in used tires and parts are always on the lookout for reasonable sources for more parts. The price they offer will depend on the vehicle itself as well as how many parts are reusable. You may also need to have the vehicle towed to them.

Individual Scrappers

Many people today make a living from gathering scrap metal. You will only receive part of the value of the vehicle from them because they will still need to be able to also make a profit from the sale as well. This is a great option if you are not near a scrap yard and would have to pay to tow it somewhere. Finding these people might take some time or you could be lucky and have one fairly close to you. Ask around.

Classifieds or Auction

Even if your car has no value to you, there may well be someone out there trying to find parts for their own vehicle like yours. If your car is the same make and model as theirs, they will happily purchase yours for spare parts on their own car. It saves them money from buying retail or from a used parts dealer and they can scrap whatever is left when they are finished.

Post your junk car in an online classifieds website under the appropriate category. Craig’s List works well. Be sure to clearly state that what you’re selling is a car for parts or salvage. State that it does not run. This way, it’s clear and you won’t get the wrong kinds of people interested in your car. Someone might think they’re getting a really good deal on a running car when it doesn’t run.

Another good option is eBay. I’ve bought parts off of eBay for my MR2, which is a rare car. If your car is rare, then you can make some good cash just selling parts online – at auctions. You will have to remove the part and take good, clear pictures of it. People will want to know if the part works or not. If it doesn’t, then what are you doing selling it?

Fire/Rescue Departments

Fire departments are often looking for vehicles to use as training for accident recoveries. Some will have a budget that enables them to pay a small amount for the vehicle, others will give you a donation form for you to use it as a tax deduction. Either way you will be free of your junk and you will know it is going to a good cause.

Conclusion

The most profitable way to sell is typically through a scrap metal recycler. However, if your car is lightweight, yet has many parts that are still good for reuse, parting it out may earn you a higher profit. It’ll just take more time and you will have to do more work.

It is sensible to check several options and go with the one which offers you the best deal. If you are mechanically proficient, you may find a combination sale works best. You can remove the viable parts and resell them to a parts dealer and then sell the vehicle for scrap once it is stripped. You could make some good money doing this, actually.

Keep in mind you will need to have a title or proof of ownership to dispose of any vehicle and most states will require notification when a vehicle has been scrapped.

If you haven’t sold a car on your own before or even if you’ve sold a few of them, one thing you for sure want to make sure you do is have a car bill of sale document.

If you don’t have the buyer sign one, you could be heading for a mountain of trouble.

What is a Bill of Sale Document?

It’s can help serve as a legal document (sort of) but don’t worry, you don’t have to be a lawyer to make one. Also, there are places to download one yourself for free. What it needs to include is:

• Seller’s name
• Buyer’s name
• VIN of the vehicle
• Vehicle year, make and model
• Odometer reading / disclosure
• Sale amount
• Date of the sale
• Terms of the sale

This document is like a receipt but maybe even better. It states what you’re selling, what the buyer is buying, for how much and on what date. I like to always include that the vehicle is “as is” and does not include a warranty. It’s good to include that the sale is final / no returns – these are your terms of the sale and when the buyer signs it, they’re saying they agree to these terms.

Have a place for them to sign and date it. I like to have a place where they fill in their name, address and phone, too. When you conduct your sale, you should be asking them for their driver’s license. I look at it and will also ask if I can photocopy it or snap a picture of it with my phone for my records. Make sure it’s them and that the address matches up.

Two Documents or Copies

Either have two documents (one for you and one for them) which you both sign or if you have a printer at home with a photocopier, then make a copy of the one document. Make sure you both walk away with a copy.

Ok, So Why Do All This?

Quite simply, it’s protection – for you and them. This is for a number of reasons:

1. What if they want their money back? If they come back later and want their money back (I would bet this happens more often than you’d think), you have this document showing that the car was sold and there are no refunds. This is, of course, subject to local laws – as there may be what is called a “cooling off” period in some local laws where the buyer does have the chance to get their money back. Check with your local DMV for sure.
2. What if they never sign the title / register it? If the buyer of the car never registers the car with your local DMV, then according to your state, you look like the legal owner of the car. It might be abandoned, it might end up at a junk yard (where you might receive a bill for fees) or it might even be used in a crime. The bill of sale document helps to release you from these things. Really, is this not reason enough for you to have one? You might not ever see this person again, so when you have them with you, make sure you’ve both agreed on the terms of the sale. This document helps to prove that you did both agree in person.
3. What if they get in an accident on the way home or before they register it? Just like if they abandon the care or something, having a bill of sale document for the car you just sold helps to make sure you are not liable for that vehicle any longer.

Another Warning: Title Transfer IS Needed!

Please note: the sale might not be legally finalized until a title transfer is done. A bill of sale document does not prove legal ownership of a vehicle.

If possible, go with the buyer to the DMV and get the title transfer done. I know this isn’t probably considered normal but if you’re worried at all, doing this will help you sleep better at night. It’s a business transaction, so do what you need to do.

Where to Get a Bill of Sale Template

A template is something to start with, so a bill of sale template or form is a document which you can start with and edit until it has the information you need for the sale of your vehicle. We have another, good article here on this website about that and it includes a sample template form for you to download and use:

Bill of Sale Document for Selling a Car (cartips.com)

Conclusion

I’m not going to re-hash everything written so far about having a bill of sale since we have another article here on the website about that but I wanted to list some warnings and things to be careful of. No, the bill of sale document isn’t an official document but it certainly can help. It’s something and something is better than nothing. To be sure you’re safely legal and to be sure the transaction has been officially completed, the title transfer must be done because then, your state government is satisfied with the sale and it’s legal.

If you have more questions, please look through other articles here or else post a question in the comments area below. If you liked this article, please share it with your friends and others with your social media accounts so that everyone can find out about it and enjoy it.

Can I Sell a Financed Car?

First of all, yes – you can privately sell a car that is still financed. You can sell it yourself or trade it in at a dealer but you’ll get more for the vehicle when you sell it yourself (that’s sort of the point of this whole website – helping you sell your car quickly and get the most for it by doing it yourself).

The main thing you need to know is that you have to call your bank (or wherever it’s financed) and ask for the payoff amount. This is the amount you would have to pay in order to get rid of the loan and have the car just in your name.

Along with that, you’ll need to notify anyone coming to see the vehicle that the title is not clear and that there’s still a loan on the car. Be sure to tell them that you know the payoff amount. They’ll ask what that is and it’s fine to tell them. It just can’t be for more than you’re asking – you’d essentially be “underwater” with your vehicle loan-wise if this is the case.

Underwater With a Car Loan

Being underwater with your car loan means you owe more on the car than it’s worth. This is a problem if you want to sell the car. Your best option here is to wait or find the money to pay down the loan more so that you’re not underwater with it. You should ask yourself if you really need to get a different car or if you can wait.

I was in this situation once – I traded in a car that I owed money on and got a new car. The dealer and bank then rolled what I owed on the old car into the new loan. I look back and don’t know why they did that. It seems that today, banks would be less likely to do that.

One option is to try to sell the car, get the most you can for it and then take out a personal loan or home equity loan to cover the difference. You might even be able to take a loan out on your 401k or retirement plan but that’s not a good idea and it should be avoided if possible.

One more option might be to get a different loan on the vehicle if you have good credit. Maybe you can get a lower interest rate or extend the payments over another year or so and then you’d have a lower monthly payment. Often, these loans don’t take effect for 45 days, so you’d also be able to skip a payment, which might also help you.

Selling Your Car That You Own On

Let’s go through the complete process on how to sell a car that is not paid off so that you do it right and don’t run into problems. Know that you’ll have to do a little bit of extra work but if you really want to sell the car, you probably can. One important thing is to make sure potential buyers that come by to look at the car feel comfortable. If they ask you what you owe or what the payoff is and you don’t even know, they’ll probably leave.

1. Call your lender and find out what the payoff is. They’ll tell you how long that amount is good for. It might be a week or 15 days or 30 days.
2. Find out how much your car is worth and then price it properly.
3. Clean your vehicle and get it ready to sell. Take good pictures, write up good ads and get the word out (online and offline).
4. Make sure you have all the necessary paperwork ready for when people show up. You’ll need the title (with the lien note on it), a bill of sale document and any other paperwork that the Department of Motor Vehicles (DMV) in your state requires (smog test, etc.).

What to do When the Sale Happens

When you have agreed on a price with a buyer, you’ll need to get the title in their name. To do that, you will first have to go to your lender (bank) with your check or cash from the buyer and then have the loan paid off. The complicated thing here is that if you have a personal check, the bank might want to wait for the check to clear and this will delay things. If possible, get cash or a bank check. The bank check can be made out to you or your bank.

Your lender might be able to give you a lien release right then or it might take a few days. When you get it, you’ll need to go to your state’s Department of Motor Vehicles and get a clean title that does not show a lien on the vehicle. Once you have that, you can sign the vehicle’s title over to the new owner, like normal.

The buyer might want to go to the bank with you. If this is the case, then that’s fine. Plan a time where you can both do it together. Maybe call your bank ahead of time and ask what the best time is to do that and who you should talk to – just to ensure that everything goes smoothly. If you get in there during their busiest time, you’ll have to wait and let’s face it, that’s just awkward being there with someone you don’t know.

What Not to Do

Probably the worst thing you can do is not tell the buyer that the vehicle isn’t paid off. If you take their money and then tell them that you have to first go to your bank, they might not be happy. Be honest and tell them.

More Tips

If you want more tips and advice, I have another article here on this website that you should read:

How to Sell a Car Privately When it is Financed

Conclusion

Know that it is possible to sell a vehicle that is not paid off. It’s more work but it can be done. Your best bet is to find a way to first pay it off so that you don’t have to deal with all this extra work. You’ll also attract more buyers when the car title is clear as they know they won’t have to also work a little more to get the vehicle – it’s just a lot cleaner and easier this way.

Do everything you can to make the sale hassle free. Think of what questions someone might ask about the loan and have answers ready. Get the payoff and talk to your bank and see if they’ll work with you on your loan – just let them know what situation you’re in and they might even have some ideas that you haven’t thought of.

Thanks for stopping by the website and reading this article. If you have comments that might help someone, please leave them below. Please do share this article with others you know if you think this article is valuable and would help them.

In this article, we’ll go through the best ways to price your vehicle so that you get enough buyers interested and yet still make as much money as you can selling your vehicle.

What is the Car Worth?

There are a number of ways to find out what your car is really worth. We’ll walk you through some online tools to help you determine the right price for selling your car and then ways to test your price.

How Quickly Do You Need to Sell it?
Before you go through this process, it’s good to take a minute and think about how quickly you need to sell your car. The more time you have, the better. If you need to sell it quickly, then you’ll have to, of course, have a lower asking price to attract more buyers.

Find Your Used Car Value

Here are some websites where you can enter the year, make, model and mileage of your car to find out how much it is worth:

• KBB.com (Kelly Blue Book)
• Edmunds.com
• NADAGuides.com

Check the value for your car on all of these websites. Write down (or print out) the values that you get. You’ll be selling it privately (not trading in), so look at that price. Sometimes that’s the retail price.

Don’t forget to list all the features of your vehicle. If you have to go out the car and write them all down, then do it. I’ve done that as there were features I forgot about.

Average that out by adding up the values from all 3 websites and then divide by 3.

We’re not done yet. The next thing to do is see if this value is good or not. Next, go to websites like AutoTrader.com and eBay Motors and look at what people are asking and what cars like yours have sold for recently. This is a great way to tell if you need to go up or down on your price.

What’s great about checking your car on eBay Motors is the “See Completed Listings” link after you do a search:

Click that link for some really valuable information – the green listings are the ones that have sold:

Now, you might not find your exact year and model but this should help. Also look at the red listings and see which cars didn’t sell and which ones didn’t get very many bids – these cars were probably priced too high.

Check Your Local Area

At this point, you’ve done a bit of good research. One more thing to do is check your local area for similar cars being sold. Check local used car websites and classified ads in the local paper. This is going to tell you what your local competition will be like.

What Your Car is Really Worth

Ok, so everyone probably thinks their car is the best one out there or special – or maybe you really do have a piece of junk… but there’s one thing to remember – your car is worth what someone is willing to pay for it. Don’t forget this! It’s a basic rule of business.

Used car dealers are smart. The do a number of things well and you should take note:

• They put cars on their lot that they know they have a good chance of selling. You don’t have this option since you’re just selling one car.
• They make sure the cars look their best.
• They attractively price the car.
• They know how to sell a car.

The more you can hype up your car and point out its great features, the more you’ll get for the car. More about that in a minute.

To come up with the right price for selling a car, take the research you’ve done and arrive at what seems to be a fair price. Then, add $500 and then remove/subtract $5.

For example, if you think the car is worth $9000 after your research, your asking price should be $9495. This way, you have some wiggle room and taking the $5 off makes the price look more attractive (lower).

Steps to Selling a Car

First, prepare your car to be sold. This means wash it and detail clean it the best that you can. Even do things like remove the dealer sticker from it.

Second, know all the features of your car so that you can figure out the right price and create ads. You might even create a little website for your car.

Third, take photos of your car for use on your website and online ads.

Fourth, place your online ads and get the word out about your car.

Fifth, be available and wait for people to call or email you. Respond to those calls and email promptly so that these buyers don’t move on to the next car.

Sixth, when people show up, put on your salesman hat and sell it!

Be a Salesman

Yes, the image of used car salesmen (or women) isn’t the most pleasant. You think of high pressure and them being annoying and everything. This doesn’t have to be you but you do have to do some of the things that they do:

• Greet people with a smile and a handshake.
• Ask people where they’re from and what they do – try to make a connection of some sort. Maybe you both have young children or kids in high school and both like the same sports team.
• Give them a sheet about the vehicle – it should like the basic information (year, make, model, mileage) as well as all the features. I like to do a short write up about why I like the car and why I’m selling it. Be honest.
• Point out the great features of the vehicle.
• Mention what you just got fixed and what might need to get fixed soon.
• Try to think of a feature that suits the buyer. If they have kids, mention that there are 4 doors and how there’s space for kids or that the back seats have little wear on them, etc.
• Answer all their questions.
• When the time is right, ask for the sale… you don’t get it if you don’t ask.

Conclusion

You may have never sold a car before in your life, but coming up with the right price is important. It might be the most important thing. Don’t just pick a number out of thin air but do your research. What we’ve mentioned here will really help you come up with the best price for selling your car.

After you have the price nailed down, make sure the car looks its best and then advertise it properly. When people show up to look at it, be a hospitable and honest salesperson and then ask for the sale.

We have other great articles here on this website (CarTips.com), so look through them and get even more detailed help. Our aim is to help you get the best price for your car and sell it quickly.

If you have questions or comments, please leave them here and then please like and share this article with your friends.