Are you considering selling your car? If so you may want to read this article.
A vehicle is an asset. To sell the vehicle you should begin by evaluating what your vehicle costs. This requires an honest hard look at whether your car is marketable or not. There are certain models and makes with higher re-sale value. This usually depends on how the car has fared, its fuel economy and whether spare parts are easily and cheaply available. All these factors have to be taken into consideration when selling your car. You have to also evaluate the market. Compact cars with a good fuel economy will be popular in congested city centers and in and around college campuses. Trucks or Sports Utility Vehicles may be more popular in the suburbs. Similarly the market for station wagons is in leafy neighborhoods where soccer moms are going to want vehicles for utility. A vintage vehicle or a sports car will sell best amongst enthusiasts and the market for those kinds of cars is entirely different from the usual car market. Similarly classic cars like Ford Mustang or Chevy Camaro will have only one kind of buyer. Research shows muscle cars sell better in areas closer to military bases and facilities. Knowing your market when selling cars helps because when armed with the necessary research you should be able to sell your car with a certain amount of confidence.
Once you have determined your market, it is time to determine the price you are going to sell the car for. To determine the optimum price you will have to take into consideration factors such as the mileage, condition and any features that may be add-ons. If you have made any improvements to the vehicle, you may also want a price for it. Similarly if you put in new tires and rims, you may be able to add that as a selling point. It is important however to do the market research and see what a similar car of the same make and model is going for. It is also important to put your best foot forward. Get your car detailed and polished before selling it because presentation is half the battle when selling a car. Similarly you may want to determine where to sell your car. You can take your car to a used car dealer or you can sell your car online. Either way, you must be aware of the pros and cons of selling a car on line vis a vis through a car salesman. There are now many online websites and companies that help prospective sellers sell their vehicles for a good price. You can also auction off your vehicle to the highest bidder either through an auction house or online on websites such as Ebay or Craig’s list.
Whenever a car is sold, a state’s department of motor vehicles (DMV) has certain requirements which ought to be fulfilled. These requirements are necessary to ensure that the title when transferred is clear and that a seller is indemnified against future actions and incidents involving that particular vehicle. Therefore if you are considering selling a used car, you ought to follow these requirements, because they protect you and your interests.
The foremost requirement is to effect a release of ownership by signing off on line one of the title. Remember selling your car with title requires clearance from any lien holders. This happens when you finance a car. If the car is financed, the title should be cosigned by the lien holder. A properly endorsed title, i.e. the pink slip, is key to a successful legal transfer.
Next a person selling a used car is required to provide the buyer a smog certificate. Usually smog certificates are required to ensure that the car is in conformity with the requirements of the state you reside in. A smog certificate is usually good for 90 days from a specific inspection date.
The seller is required to provide the buyer with an accurate mileage detail and odometer reading as well as submitting it to the DMV through the proper form. The mileage must be signed off on both by the seller and the buyer. Contact the nearest DMV to get the requisite paper work.
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