When it comes to selling car in North Carolina, most people focus on advertising campaigns and revamping the outlook of their vehicle. While this move has its share of weight in procuring a good price, you need to keep your mind on other factors as well.
Before anything else, you should ensure that you have the car title with you. If the title is misplaced then the seller must apply for a duplicate title. Without this vehicle transactions cannot be completed. If you are unable to obtain a duplicate title, you can apply for an indemnity bond to proceed with the process of selling your car. If you have the title, you will be required to fill out the information regarding the buyer’s name and address, date of delivery/sale and odometer reading on the backside of the title. The seller must also hand print his name and sign the title in the presence of a notary to make it valid. In addition to this, the seller must provide a damage disclosure statement and an odometer disclosure statement if the car is less than ten years old.
The North Carolina Division of Motor Vehicles (DMV) also advises an application for the release of liability to ensure that the state records no longer associate future citations with you. A bill of sale is also not mandatory but recommended as it will act as an evidence of sale of car. If there are any liens applicable, you must arrange for their release.
When you plan to sell your car, you must understand different aspects that potential buyers evaluate while looking at used cars. They all want to avoid purchasing flood or storm damaged cars and cars with rolled back odometers or salvaged parts. You can show that your car is free from theses blemishes by ordering a vehicle history report through the VIN number.
Finally once the financial transaction is completed, sellers can remove their tags from the cars. These can either be transferred to your new vehicle or they can be turned in at the Vehicle and License Plate Renewal Office before the cancellation of auto insurance. This is mandated by the state of Carolina as auto insurance has to be in place as long as you have a valid license plate.