Guide to Selling Your Car

    Thinking about selling your car? It may seem like a complicated process upfront, but once you know what documents you need and how to get started, you may find out that you can sell your car in just a few simple steps. If you’re looking for all the information you’ll need when you want to sell your vehicle, you’ve come to the right place!
What to do with your Car Title Before Selling Your Car
    Before you begin the process of selling your car, it is important to confirm that your vehicle is completely lien-free, so that the car buyer will be confident in buying your car. When a car has a lien, this means the vehicle is technically owned by more than one party. People might have a lien on their vehicle if they are still paying off the purchase of their car with an auto loan. Or, if you’ve ever had car title loans, you will know that title loan lenders will place a lien on a vehicle when they approve funding.
    If your vehicle has a lien, you cannot legally sell that vehicle until the lien is removed and you are listed as the sole owner on the vehicle title. To confirm your vehicle title is free of any liens, you can enter your Vehicle Identification Number (also known as the VIN) into the online VinAudit report tool. After you enter your VIN, you can retrieve a vehicle history report that will show your car’s history including your vehicle specifications, title records, and past issues such as accidents and theft, as well as confirmation whether or not the vehicle has a lien.
    It’s a good idea to have formal documentation of your vehicle history before you sell your car because anybody looking to buy your vehicle is likely to request this information right away. It is common to want all the information about a vehicle’s history before acquiring it or using it as an asset. For example, before title loan lenders like LoanMart accept a vehicle as collateral for auto title loan funding, they will run a VIN Check with the help of a service like VinAudit to make sure they have the most up-to-date and accurate data about a vehicle and its history.
    Since everyone from large companies to individuals can run a vehicle history report for your car on their own, it would be smart to have already done this for someone looking to potentially purchase your vehicle. The more upfront you are about the facts related to your car, the more comfortable people will feel about buying from you.
Documents You Will Need When You Sell Your Car
    While pulling a vehicle history report on your car is the best first step when looking to sell your car, it is not a required document. There are, however, other documents that are required when selling your car.
    Unless your vehicle is covered by an exemption, for example based on its age or weight, one of the required documents you need when you are selling your car is an odometer disclosure. Because of the Truth in Mileage Act enacted in 1986 by the United States Congress, anybody looking to sell their vehicle may need to provide an odometer disclosure with the following information:
  • Year, make, model, and VIN of the vehicle being sold
  • An accurate reading of the mileage on the odometer at the time of the vehicle sale or title transfer
  • The buyer’s name and address
    • In addition to the odometer disclosure, you will also need to provide the title to the vehicle when selling your car. To make a private sale of a car official, you will need to transfer the vehicle title to the person who is buying your car. After that, the buyer can opt to have a new title issued specifically in their name. To transfer a vehicle title, it might be a wise choice to complete the process at your local Department of Motor Vehicles. From there, a DMV associate can walk both the vehicle buyer and seller through the process of transferring the vehicle title to the car’s new owner!
      Once the sale of your vehicle is complete, the last document the buyer needs is a Bill of Sale to show that the vehicle has been purchased legally.
    Checklist for Selling Your Car
      Selling your car doesn’t have to be a daunting process when you know what to do. Check out this helpful checklist you can follow if you’re looking to sell your car:
      1.Get the Value of your Vehicle and a History Report – You can get current estimated market prices of your specific car using tools such as Kelly Blue Book. At that point, you can consider other damages, issues, or modifications you’ve had done to your car to help determine a selling price you want to offer.
      2.Take Pictures of Your Car and Prepare it for Sale – After you know the price you’re looking for on your vehicle, the next step is to give your vehicle a thorough wash inside and out to make sure it is looking its best. Then you want to take several pictures of the inside and outside of your vehicle, so potential buyers can get a general idea of the vehicle and its condition upfront.
      3.Advertise the Sale of Your Vehicle – There are several different ways you can go about advertising the sale of your vehicle. One option is to simply post a for-sale sign in the window of your vehicle listing your asking price, odometer reading and contact info; that way you are constantly advertising the sale of your vehicle wherever you go. You can also post your vehicle for sale online on sites like AutoTrader or Craigslist and wait for people to contact you.
      4.Gather Your Paperwork and Transfer Your Title – Once a buyer has contacted you and both of you have agreed to a selling price, the final steps are to gather the paperwork, receive your funds, and transfer the vehicle title. When you receive payment for your vehicle and prepare the odometer disclosure, transferred vehicle title, and bill of sale, you have successfully completed the process of selling your car!