Graph Your Car From All Angles
Ignore Scammers Or Bots
Complete The Buyers Application For The Title
With the original title filled out, the buyer will need to apply for a new copy in their name. To do this, theyll need to fill out an application, DMV Form 130-U, and present it to the DMV. This form will require your signature as well, as legal proof that youve agreed to the sale.
Form 130-U also functions as a legal bill of sale. Make sure to fill out the sales price accurately since the buyer will be responsible for paying sales tax based on the amount listed.
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Trade In Your Vehicle
If you are looking to get another vehicle, a trade is an efficient way to sell your current car and drive off with a new one. Your local dealership can usually accept a vehicle trade-in, and its a fairly simple process.
After ensuring that your current vehicle is paid off you can use the sale price of your vehicle to be taken out of your new vehicle price. This means that rather than cash like you would selling privately you will instead lower the price tag on your new car. But new cars are going for a premium, so it might not go as far as you would like.
How Do I Offer Potential Buyers A Test Drive
Once you’ve found a potential buyer, youll want to schedule a test drive. Let the buyer get a feel for how the car handles. Follow these tips below to create a safe test-drive experience.
- Screen buyers – Thoroughly vet potential buyers before scheduling a test drive. Speak to the person on the phone and ask them screening questions, such as whether or not they have financing lined up. Take questions from them as well to determine if theyre a serious buyer.
- Safety in numbers and visibility – Meet the potential buyer in a populated area. Never go on a test drive alone. Ask a friend to join you. Schedule the test drive during the day.
- Credentials – Check the buyer’s license and proof of insurance before they get behind the wheel.
The test drive is not the time to take payment but once completed, its appropriate to begin negotiating the price.
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How Do I Sell A Used Car In My Province
Every Canadian province has different rules, regulations and requirements around buying or selling a used car privately, and there are even differences when it comes to trading a vehicle in to a dealership. Depending on where you live, you may need a used vehicle information package , emissions test, safety standard certificate or other provincial requirements. Weve compiled the information you need no matter which province or territory you live in, in this helpful guide.
How To Blow The Competition Away With Awesome Photos
If you need to sell your car in a hurry, chances are you dont have all the time in the world to take your car to be meticulously shampooed and professionally photographed. All you need is your smartphone, a regular car wash and a bit of a tidy on the inside. Understanding how to shoot your car and at what angles doesnt hurt. Check out this car photography how-to for more details on how to take awesome photos.
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Cancel Your Vehicle Tax And Get A Refund
Sellers and buyers can no longer transfer existing tax when a car is sold.
Instead youll need to tax the car yourself and the old owner can apply for a refund.
However, new tax is now backdated to the beginning of the month and refunds are from the start of the next.
This means if you sell and then buy a car early in the month, you will be paying tax twice.
If you apply for SORN before the end of the month you can avoid paying tax on your existing car.
However, youre liable for a fine if you then drive on the roads untaxed. This could make it tricky if a buyer wants to test drive your car.
Finding Out The Wholesale Price Of Your Car
Wholesale value is based on the Canadian Red Book which has the wholesale and retail values of used vehicles. It is an industry standard used by car dealers, insurance companies and other provincial governments.
The values are based on the average amounts paid for vehicles of the same year, make and model. They dont take into account:
- optional equipment
- vehicle condition
These values can change from the day you pick up the Used Vehicle Information Package to the day the vehicle is transferred.
If you paid less than the Canadian Red Book value
If you paid less than the Canadian Red Book value, you can get the vehicle appraised before changing ownership.
If the appraisal supports a lower price than the Canadian Red Book, you will pay tax based on the higher of the purchase price and the appraised value.
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Sell Your Car At A Reasonable Price
If youre wondering, How much should I sell my car for? remember that most buyers are filtering their searches by price. That means that your cars year, make and model are often not the most important things on a buyers list of priorities. Make an honest assessment of your car, and be reasonable with your asking price. Buyers can easily check out the Carfax value of your vehicle. Find the right balance between a fair price and a good deal, and you might just attract the right person. This helpful car pricing guide suggests looking at similar cars for sale to compare asking prices.
What Else To Keep In Mind
- Make sure the cars title is clean, free of liens, loans or ex-husbands names.
- The buyers bank may also be able to wire transfer the cash to your account, typically for a small fee.
- Be sure to cancel the insurance on the car as soon as its sold
- You may need to return your license plates and a provide a bill of sale to your Department of Motor Vehicles check your local laws
- Be sure to clean all your items out of the car before the final transaction you dont need her enjoying your EZPass or Outerbanks overland permit.
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Selling A Car Privately
Selling a car privately can be time-consuming, but you might get a better price.
Heres what youll need to do:
- Advertise your car to potential buyers for example, a For Sale sign on the windows of your car and/or a shop, classified ads in local papers, or ads on websites such as Gumtree, PistonHeads, AutoTrader and Motors Or, you might be able to find a buyer among friends or their friends through social media like Facebook, or at work.
- Deal promptly with calls or emails from potential buyers.
- Arrange and be present at viewings and test-drives.
- Arrange a safe way of being paid for the sale.
Payment Options To Complete The Transaction
When the buyer chooses your car and negotiations end, the next step is to determine the payment option to complete the transaction.
Touchless online payment options, such as Zelle, PayPal, or an old school cashiers check or money order remain the safest ways to collect payment. These payment options keep your bank information hidden and the buyer will pay you directly for the car. These methods help protect a seller against fraud.
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Checklist For Car Sale Paperwork
If you are selling the car yourself, this is the list of paperwork you need for the sale.
First, gather the vehicle title and check DMV rules in your state and that of the buyer to learn how to manage the car title transfer. In many states, the buyer needs to retitle the vehicle, register the car and pay transfer fees, including state taxes. All these steps can be completed at the buyers state DMV site.
Be aware that most states require the seller to provide the buyer with a current smog check or state inspection certificate for emissions. It must show the vehicle passed the test prior to you transfer ownership of the car.
Sellers also must notify the county tax assessors office of the sale. This provides another layer of protection if the future owner fails to properly title the vehicle.
How To Sell More Cars At A Dealership
Cars are more sophisticated and convenient than theyve ever been, but people are buying fewer cars.
However, just because the big U.S. automakers are seeing a decline in sales, it doesnt mean your dealership has to as well. The fact remains that millions of cars are sold each year in the U.S.
With the right vehicles for sale and an effective approach to selling them, you can increase your profits.
Read on to discover how to sell more cars at a dealership, and close sales quicker.
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What Is The Value Of My Car
Setting a fair price is important to a smooth used car transaction. Set the price too high and youll miss out on leads, set your price too low and you wont get as much as youd like towards your next vehicle. Its tempting to just browse the listing sites and set your vehicles price alongside what comparable cars are listed for, but list prices and sold prices are very different things.
There are many factors that contribute to your vehicles value, including its history, odometer reading and condition. When youre considering the value of your vehicle, make sure you learn what similar vehicles in your area have actually sold for. You can use the average as a baseline for how much to value your vehicle at.
Has anyone smoked in the car? Has it been used as a taxi or previous daily rental? Has it ever been in an accident? Does it come with winter tires? Ask yourself about extra features or history that can impact its value.
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Notify The Dvla That Your Car Has Been Sold
With your old car speeding off home with its new owner, your only remaining task is to notify the DVLA of the change of ownership. You no longer need to post your V5 to Swansea as you can do it all online check out our guide to the new V5C logbook rules.
How to sell your car
Selling a car
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Try Direct Mail Marketing
Some customers may be on the fence about buying a vehicle due to costs or financing. However, you can target leads through mail campaigns that let them know their credit will be accepted without a hassle.
These direct mail pieces can have the dealership name on them, and even your name as the salesperson to contact. This will eliminate some of the worry and paperwork involved for your customer.
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Dont Get Ripped Off By Scams Or Thieves
While it’s nice to think that no one will get ripped off, some people out there will. To ensure it’s not you, there are a few simple measures that you can use to protect yourself. Firstly, when a potential customer calls up wanting to buy or test drive the car, make sure you have their full name, phone number and, if possible, their address.
Also, before you let anyone get behind the wheel of your car, make sure they have their driving licence and proof of insurance. If they do not, you can demonstrate the car to them buy driving it yourself.
It may make you wonder if there is any trust left in the world, but never let a potential buyer test drive the car on their own, and if you do leave them to look over the car, dont leave the keys in it.
How Do I Finalize A Private Used Car Sale
Youve found a buyer thats agreed to buy your used car. Now youre ready to hand over the keys but before you do, you need to officially finalize the sale. Each Canadian province has different regulations when it comes to transferring ownership. Be prepared with the required documents such as a used vehicle information package , safety standard certificate, bill of sale, emissions / Drive Clean test, transfer/tax form, etc. Depending on where you live, the requirements are different, so weve compiled the steps and information that you need to know, as well as provided links to the appropriate websites. When in doubt, its always best to contact your provincial government to make sure you and the buyer have covered your bases.
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Reasons You Might Not Want To Sell Your Used Car
It is tempting to try and get more for your vehicle before prices drop, but you may want to hold off if you dont have another ride to fall back on. New car prices averaged over $46,400 in December 2021, according to Edmunds. Thats a hefty amount, even if you get a good amount for your current car. Unless you can secure an excellent interest rate you might not walk away with more money in your pocket.
There is also the problem of inventory. You may not want to sell your vehicle if you dont have another one lined up. Lots are still sitting mostly empty, and continued supply chain issues mean that you likely wont find more anytime soon. As more businesses are going to a hybrid schedule, you may not be able to get around like you need to without a car.
If You Owe Money On Your Car
If you owe money on your car, the lienholder still legally owns the car. Find out how much you owe on the car by contacting the lienholder for a payoff quote. If you have enough cash on hand to comfortably pay off the car, thats the easiest path.
Some lienholders might not allow you to sell the car until the loan has been paid off. Some will, but theyll hold on to the title until they receive the payoff. If youre in that situation, youll need to be upfront with the buyer that you wont be able to sign over the title immediately. This is typically no big deal for a dealership or a buying program they handle these situations all the time.
However, it might limit your options if youd planned to sell to a private party, since individuals might not be comfortable with the idea of handing over money and waiting for the title. If your lender has an office nearby, you can meet the buyer there to complete the transaction. The buyer hands you cash or a check, you pay off the loan right there, and you both get the paperwork you need.
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Document Your Vehicles History
Running a vehicle history report is not technically a requirement to sell a car in the state of Texas. That being said, most buyers are going to want one. So if you have all your repair and maintenance receipts, make sure theyre organized and easy to examine.
It also helps to get a vehicle history report from a company like Carfax. Potential buyers could always run their own Carfax report, but it helps if you make the sale as easy as possible for potential buyers if you have one on hand.
Ensure Your Car Is Ready To Be Sold
Most people who have bought a car privately will probably have nightmare stories of filthy and neglected cars that they have seen. The overriding thoughts of a buyer looking at a car that’s been left dirty will be: ‘if the owner hasn’t taken the time to look after the interior of their car while they’ve owned it, what else have they neglected in terms of servicing and maintenance’? For some potential buyers, it could be enough to make them walk away without any further questions asked, as there are plenty of other vehicles on sale, and many will look like they have been maintained properly.
So the first step to selling your car, is to give it a thorough clean. This will sound incredibly obvious, but you only need to look at the classifieds yourself to see that many sellers still manage to fall at this first hurdle. Even if you just clear the car of rubbish, use a car shampoo, hoover the seats and carpets and clean the windows with glass cleaner to get the car looking tidy, it will help make a difference. Buying a car isn’t like buying a house for renovation: most buyers won’t want to look beneath the grime to see a car’s potential, they want something that’ll look good and be driveable as soon as they buy it.
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