Okay, so the wife and I bought a new "family" ride which is also the wife's daily driver. We're looking to sell her 2000 Honda Civic but I've never sold a car before. I'm 28 years old and I've only owned two vehicles since I was 15. My previous vehicle I traded in to buy my Tacoma. SO I have NO experience selling a car. I'm also thinking about posting her old car on Craigslist but that may be a last resort if the "For Sale" signs in the windows don't work. I don't want a bunch of strangers coming by my house to check out the car. Also, what if they wreck the car while they are test driving it? Does my insurance cover that or theirs? Should I request to see proof of insurance before they drive it? Do I notify the DMV or just rely on the DMV to figure it out when the new owner gets plates for it?
Insurance would typically be on the driver. However, if you have underinsured or uninsured that should take care of it if they don't have insurance. If you don't have those you probably should ask for proof of insurance. 2.Get a bill of sale signed at the sale and take your license plates off and it is his responsibility to register it and transfer ownership and pay taxes. The bill of sale signed by both parties covers you.
Insurance follows the car. Don't drop coverage on it until you sell it. It wouldn't be a bad idea to ask for proof of insurance before a test drive. It may weed out some people just wanting to joyride in your car.
Bill of sale for sure. What's the condition of the car? I got family in Virginia and I'm looking for a commuter car only, just good mechanical soundness needed I could work something out with the family members to come see it depending where you are?
I've sold 8 cars in the last two years. Craigslist is by far the best way to move a vehicle, unless you have a friend that has a car lot, in which I do. Look up the KBB, wholesale or trade in value and price slightly above that to move it. I buy my stuff at low wholesale value and sell it at high wholesale value. Your insurance will cover you, if they look sketchy ride with them or require proof of funds. Bill of sale is fine, but you have to sign over the title MAKE SURE YOU AND BUYER SIGN EXACTLY LIKE IT SAYS. If it says print, then print, always full name (first middle last). License plate bureau will bust your balls over signatures, it's best to go to a notary that has done car titles allot, it's worth the $5. Don't put OBO on your ad, unless you want to be low balled repeatedly, price a 3-600 above what you want and tell everybody that calls or stops, you'll take X amount no haggling. You can tell generally who has the money and who is just trying to get a steal. Be upfront with price, no need to waste anybodies time. You're a smart dude, but if you want me to tell you what you should get from it, PM the specs.
Thanks guys! I didn't even think about a bill of sale. I would consider it "clean," it's not excellent but it is in very good shape. Routinely maintained, new exhaust, new brakes/rotors 15K miles ago, new inspection. Decent tread on tires still. I live very close to Roanoke.
Do you guys make out your own Bill of Sale or print one from online? Most places I'm seeing online want to charge you for it. Nothing on our DMV site either.
Just make your own. List the Vin #, date, price, make, model, year, names, and that you sold the vehicle with no warranty "as is". Have both parties sign it and make a copy for both parties. Good to go.
I'm only 22 and I'm looking at purchasing my 6th vehicle. I have plenty of experience offloading them. First lesson, if you can ever afford to, never trade a vehicle in. Always brings more sold. Secondly, work any angles you can if you know guys with car lots. Online listings work good but it's a huge PITA. Many used car dealers can get you what you want out of a vehicle (private party value) and still charge more for their retail price ( they offer financing, trade ins, etc which allow them to charge more). You get the money you want, they make money without having to sink the capital into another vehicle to sit on the lot, and you save the headache of having to deal with it. Win win. I sold my first truck on my own. The past 4 have all been sold through a local lot. They love getting another vehicle to move without tying up $10-20k and I have zero headaches until I go pick up my check.
Here's a bill of sale I've used before... I make the buyer print their name and sign their name too. In addition, I usually add wording that the vehicle is "sold as is with no warranty of any kind" - believe I just copy and paste it into Word and then add what I want for wording.... http://www.state.sd.us/drr2/forms/mv/non0860v1-billofsale.pdf Craigslist is great, I've never had any issues - long as you stick to some basic rules... I never 'hold' the vehicle for anyone - first one to show up with payment gets it (would consider like an hour or two while someone is on their way over but I've had people ask me to hold a vehicle days or weeks - until payday or whatever), only accept cash or certified bank check (I even made a young kid call his bank on his cell speaker phone to make sure the check was GTG once), only deal face to face, I'm also picky about who drives it too - I don't let anyone drive it - normally I tell them if they are serious and planning to take it, I'll let them drive it - you can normally tell how serious they are...
The bill of sale form is probably right on the back of the title. You sign it over, take off your plates and you're done. You may want to accompany the buyer to the DMV to make sure he completes the process. It's still your car until he titles it in his name. And for heaven's sake. list the price. There is no point in having dozens of people calling you just to find out the price.
1. Check with your agent to see if they are covered if they wreck it while test driving. 2. Bill of Sale with both parties names and addresses, their DL#, both signatures with dates. 3. Cash only. 4. If you go Craigslist, always set up viewings at a public place other than your home during the daytime.
You may also want to check with the DMV where you live because in MN, the plates stay with the vehicle, not the person.
Thanks for all the tips. Actually had to go to the DMV today and get a replacement title. I was in/out in 30 minutes and only paid $10. The wife had NO clue where her title was. The DMV clerk said the title would act as the bill of sale but she also gave me another "bill of sale" form. She said I'd remove the plates before they drive off. Didn't really think about it at the time but what are they supposed to do if I take off the plates? If they're local, guess I could drive it to their house with my wife in tow. I've got it in my driveway with a For Sale sign, Craigslist, and my company's "agora page." Actually had someone stop by yesterday after having the sign out only 30 minutes. Hopefully it goes fast.
This is fascinating. Every state is so different. Here in Texas, you just sign over the title, that is the bill of sale. There is a section at the bottom of a clean title, for a new owner to fill out. They need to transfer the vehicle into their name before they sell it to the next person. It is a good idea, to go and fill out a form at the DMV to state that you sold the vehicle, so you don't get any red light tickets, or blown toll booth tickets in the mail (had this happen to a couple of buddies) Somewhere in there, the new owner has to pay tax on the vehicle. (I am deeply troubled by this, how can they tax a used item again and again?) Plates stay with the vehicle (the license plate # is also printed on the state registration and inspection stickers in the window) You keep your toll tag, or just call and deactivate it, they'll send you a new one.
