Do you have a junk car that you think might be worth selling? The good news is that you can offload the car that is just sitting in your garage or backyard and get some cash as a result. If this is your first time selling a junk car, knowing where to start or what steps to take next may seem overwhelming. To help you sell your car quickly, check out these 3 tips to guide you through the sale process
Consider where and how you would like to sell your car
There are a few different routes that you can take to complete the sale. A popular option is to list the vehicle for sale on social media, a used car website, or any other type of classified ad source. This is a good choice if you want to handle everything on your own, but you'll likely have to take care of all of the advertising yourself. Another course of action is to shop around at a few different scrapyards to find the best quote. A junkyard should give you a fair price, although you must be certain that the final estimate includes any towing costs if you can't drive your car to the location. Do some research before you begin the process to ensure that you are selecting the best option for your needs.
Make sure that you have all of the paperwork ready
Once you know the selling route you want to take, it's important to gather together all of the necessary documents to properly facilitate the sale. Your local DMV can give you a complete checklist of what you will need, but there are a few basic items that you should be sure to have on hand:
- Title - This is a vital document needed for the sale. If you hold the title, you'll just need to sign it over to the new owner. If a bank is in possession of the title, however, you must reach out to the lienholder to get a payoff amount and secure the title. In the instance that you are still making payments, you should include that fact in your ad so the buyer knows that it could take a few days to receive the title.
- Maintenance Records/Vehicle History Report - Your buyer will want to know the car they are purchasing is safe and well-maintained. To meet this demand, you should have any maintenance records or paperwork about the history of the vehicle handy.
- "As-Is" Bill of Sale - This documentation puts a clear acknowledgment in writing that the buyer is taking on the car as it is. In other words, an "as-is" document will release you from liability for performing any repairs on the vehicle in the future.
- Odometer Disclosure - You should be able to provide the new owner with the current mileage on the vehicle at the time of sale. You may be able to indicate the mileage listed on the title, but some states mandate that a specific disclosure form be completed during a transfer of ownership. Your state's DMV can confirm which requirements apply in your case.
- Warranty Documentation - You can charge a bit more on the sale price if you have a valid warranty on the vehicle. If you have a factory warranty that can be transferred to the new owner, be sure to include all of the pertinent details regarding the warranty as well as the provider's contact information.
Don't forget to remove the plates and any personal belongings
Take the time to check the entire interior of your car prior to selling the vehicle. Look in the glove box, under the seats, in the center console, and in the trunk for anything that you may have forgotten. You may be surprised by how many missing items you'll find just by doing a quick search of your car. You should also take the license plates off as well. Your DMV may require that you bring in the plates when you start a title cancellation.
Using the tips above, the process of selling your junk car and making some extra money doesn't have to be a hassle. To learn more about how to get money for your junk car, contact a dealer.