You have searched online, ‘how to sell a used car quickly, decided on the selling price, and published the classified. Now, you are all ready to sell your pre-owned car. However, before you sign the deal, gather all the paperwork. It will help you finalize the transaction quickly when the right buyers come.
We have put up a car selling guide specifying the list of documents you need to sell your car.
The Title.
In most states, a title is the bare minimum document you will require for selling used cars. It represents the ownership of the vehicle. If your car still has a lien, you must notify the lienholder about the vehicle’s sale. Before the title’s released to the new owner, you need to pay off the pending amount. You can also work out with the buyer to pay the remaining amount to the bank.
If you have misplaced your title, connect with your DMV to apply for a duplicate copy.
- Notice Of Transfer or Release Of Liability.
If you have sold your car privately and it is registered under your name, you might get in trouble if the new owner meets with an accident. Notify your DMV about this transaction to protect yourself from after-sale liabilities. Don’t forget to submit the Release Of Liability Form or Notice Of Transfer.
Not every state may require a notification; however, it is in your best interest to do so.
- Bill Of Sale.
A bill of sale is the transition record between the buyer and the seller. Some states may not require the bill of sale. However, we recommend completing this document. It legally ensures that you have released the liability and the potential buyer takes responsibility for the car’s as-is condition, including the odometer rating. It also establishes the date of sale as you are transferring your vehicle’s ownership.
You can contact your DMV to get a copy of this document.
- Emission Tests Documents.
If your state requests regular emission tests, you must include this document in your car sale paperwork. Your potential buyer may want to know that the vehicle is up-to-date in its emission checks.
- Warranty Documents.
If your car is still under warranty and is transferable, include it in your vehicle sale paperwork. It may also justify a higher selling price of your used car.
- Service History.
Legally, it is not required to share service documents with the potential buyer. However, it can help finalize the transaction.
Potential buyers will like to have proof that the car was taken care of and is well-maintained. Thus, keep the routine maintenance, fluid top-offs, brake service, and oil change documentation ready.
Promote Your Products (Used Cars) – Locally, Globally.
One of the best ways to sell used cars is to advertise your business on Puerto Rico And The World. It is a popular automobile advertising tool where you can publish your classified ads for a used car to connect with genuine local and global buyers.