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Best Sites to Sell Your Car
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What Do I Need to Sell my Car?
Before you delve into the process of selling your car, finding out the required documents and associated steps is an important starting point. This article covers the documents and steps involved in selling a car.
Let’s start with the documents you need to sell your car.
What Documents Do I Need to Sell My Car?
A title is the official evidence of car ownership. It’s the most important document needed to sell your car, whether you are selling to a dealership or a private buyer.
The title will be in your possession if you’re the full owner of the car. If it’s a financed car, the title will be with the bank or lienholder.
If you want to sell a financed car, you’ll need to contact the lienholder, find out the payoff amount, and pay off the debt or reach an agreement to get the title.
You can contact your state’s department of motor vehicles (DMV) to replace a missing title.
In some states, you’ll be required to notarize the title when selling to a private buyer and the presence of the buyer and seller could be required at the notary.
Bill of Sale
A bill of sale is not always a requirement for selling a car. The requirement of a bill of sale differs from state to state.
The document details the terms and conditions of the sale transaction and serves the purpose of the release of liability.
Even if the bill of sale is not required in your location, we advise that you get it. You can get a copy from the local DMV office.
Release of Liability or Notice of Transfer
The release of liability or notice of transfer is a requirement in many states for selling a car. It plays a similar role to the bill of sale in absolving the seller of liability.
With the release of liability or notice of transfer, you are officially telling the DMV that you are not to be held responsible for anything associated with the car.
The importance of this document is that it absolves you of liability even when the buyer is yet to send the new title to the DMV office. You do not require the buyer’s signature to fill this document.
Your local DMV may also have an electronic version of the document.
Service records show the level of maintenance of the vehicle. You need this document to officially show the buyer that you have maintained the car according to a schedule.
If you’ve particularly paid attention to maintaining your car, present this document as proof to build the buyer’s confidence.
This is one of the state-specific requirements for states like California. Find out whether it is a requirement in your state or the buyer’s state. If it is required and the car is due for an inspection, present the car at the authorized inspection center, and get a certificate.
A vehicle history report, as the name suggests, is the history of the vehicle. With the report, you furnish the buyer with all details about the car, including the number of owners and the major and minor accident details.
While this is not a mandatory requirement, having and presenting a copy could smoothen the transaction. You could reach an agreement with the buyer on how to get a copy alternatively.
Vehicle Inspection Report
This is a state-specific requirement, applicable to states such as Texas and California. A vehicle inspection report is a comprehensive report of the inspection of multiple aspects of a vehicle.
A vehicle inspection report presents details that indicate the roadworthiness and overall safety of a car.
It’s noteworthy that the paperwork needed to sell a car differs according to your location. We highlighted the documents that cut across many locations.
Be sure to find out about any special requirements that could be associated with selling a car in your area.
How to Sell Your Car Fast
If you’re looking to sell your car fast and with minimal hassle, companies like Peddle should be your go-to option. You can sell your used car to Peddle and complete the entire transaction within 48 hours.
Peddle is a nationwide car-buying company that buys used cars, junk cars, and damaged cars in a particularly straightforward process.
The car buying services of this company are completely free. You can even sell a car that does not have a title but have to indicate as you fill the initial form that the car doesn’t have a title.
Selling a car to Peddle involves five major steps:
- Contact the company and share car details
- Receive an instant offer
- Review and accept the offer
- Schedule pick up
- Receive payment at the pickup point
Step 1: Contact Peddle and Share Your Car Details
Provide your car details through the online form on the company’s website.
You will be required to provide details such as:
- Current car location
Step 2: Get an Instant Offer
After sharing the required details about your car, you will receive an instant offer. The offer is based on the details you provided and is the amount the Peddle agent that picks up the car will pay you.
Step 3: Review and Accept the Offer
Every instant offer is valid for seven days. After this period, you will need to request a new offer for the transaction to be valid.
Review and accept the offer within the validity period and move on to step three. Peddle prides itself on offering some of the best rates on the market. Still, you can compare with general market values before you make a final decision.
Step 4: Schedule Pickup
After you accept the offer, the Peddle team schedules a pickup. The pickup is completely free and is scheduled according to your convenience.
Choose a convenient date and time considering your availability and the readiness of all required paperwork. Even if you don’t have a title and indicated that on the application, you should get other required paperwork ready too.
Step 5: Receive Payment Upon Pickup
As per the schedule, the Peddle team arrives and inspects the car and required paperwork.
After confirming all the necessary details, the Peddle agent gives you the check and goes away with your car.
In these five simple steps, you have sold your car to a well-established car buying company with minimal hassle. Peddle sells the cars bought to partner dealerships nationwide. Of course, that process does not involve you in any way.
How to Sell Your Car Privately?
If you don’t want to sell to companies like Peddle, you can opt for selling to private buyers. As with selling to companies like Peddle, you need to get the necessary paperwork ready before you start the process.
When it comes to pricing your car, it’s best to consult well-known resources such as Kelley Blue Book to get the accurate market value of your car.
Once you’ve decided the value of your car, it’s time to list the car on your preferred car selling platform. Make sure to provide extensive details and upload appealing pictures of both interior and exterior.
It is also quite impossible to sell a car to a private buyer without a title. Thus, if you lost the title, head on to the local DMV to get a replacement. If the title is with the lienholder, negotiate a payoff amount and work towards a payment agreement. You could also ask the lienholder for suggestions for selling the car privately, probably an office for meeting the buyer.
Note: Selling a car privately comes with the risk of fraud. This is why we suggested asking the lienholder for the possibility of some form of support.
To reduce the risk of fraudulent payments, opt to receive payments in cash or use an escrow service.
A final note in regards to selling a car to a private buyer is to ensure a proper transfer of liability. Notify the local DMV of the transfer of ownership as soon as the sale is completed.
Alternative Websites to Sell Car